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China CIX Technology Deals Electric eMobility eV Nio NIO Capital

NIO Capital ups bet on ARM CPU startup CIX Technology

Capital participated in a RMB hundreds of millions Series A round of funding for CIX Technology, after previously co-leading the company's Pre-A round.

(Image credit: NIO Capital)

CIX Technology, a Chinese startup that builds computer CPUs based on ARM architecture, recently closed new funding from several investors, including NIO Capital.

NIO Capital said today that it participated in CIX Technology's multi-hundred-million-yuan Series A funding round after co-leading the company's Pre-A round.

Following the completion of this round, CIX Technology will continue its efforts in the general-purpose CPU space to accelerate the design and development of next-generation CPU chips, according to NIO Capital.

Founded in 2021, CIX Technology is focused on developing general-purpose CPUs for scenarios including personal computing, in-vehicle computing, and metaverse infrastructure.

NIO Capital's press release today does not mention the amount or valuation of CIX Technology's Series A funding.

According to CIX Technology's press release, the financing was co-led by Tongge Venture Capital, 37Games, and followed by NIO Capital as an existing shareholder.

On July 18, 2022, LatePost reported that CIX Technology closed a new round of funding of about $50 million at that time, co-led by NIO Capital and Qiming Venture Partners.

It was also CIX Technology's fourth funding round in its nine months of existence, giving it a post-round valuation of about $300 million, according to the report.

While most startups want to enter the chip manufacturing market from server CPUs, CIX Technology's first product is a computer CPU, similar to Apple's M1 chip.

CIX Technology's founder, Sun Wenjian, was the former head of AMD's customer customization division in China. He saw the time as ripe to start a business in the field of CPUs based on the ARM architecture after Apple released the M1 chip in November 2020, according to LatePost.

CIX Technology joined Linaro's Windows on Arm Group in July last year.

CIX Technology will be responsible for native Arm development, native application support and localization to help build the global Windows on Arm ecosystem, NIO Capital said in a press release at the time.

NIO Capital reportedly leads investment in local computer CPU maker CIX Technology

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China Deals Electric eMobility eV Fund Raising Industry News Voyah

Voyah secures $2.1 billion in credit lines from 6 local banks

Voyah will raise a Series B round next and has plans for an initial public offering, its CFO said.

(A Voyah Zhuiguang on display at the Shanghai auto show. Image credit: CnEVPost)

Voyah, Dongfeng Motor's new energy vehicle (NEV) brand, has received RMB 15 billion yuan ($2.1 billion) in credit lines from six local banks, setting it up for future expansion.

Voyah held a signing ceremony for the partnerships with the Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, China CITIC Bank and China Merchants Bank.

Voyah will invest more in product development and marketing and launch more quality products, its CEO Lu Fang said, according to a press release.

The NEV maker has completed its Series A financing and will next raise Series B, Local media Shanghai Securities News quoted Voyah CFO Shen Jun as saying.

Voyah has plans for an initial public offering, and it will have more than 300 core employees holding shares, Shen said.

Voyah is the brand Dongfeng Motor announced in late 2020, when the first model, Voyah FREE, was also unveiled.

The Voyah FREE went on sale in China in June 2021 and is available in an extended-range electric vehicle (EREV) version as well as an all-electric version, with current starting prices of RMB 333,600 to 393,600 respectively.

On May 7, 2022, Voyah's second model, the Dreamer MPV, was launched with a starting price of RMB 369,900.

In November 2022, Voyah announced the completion of RMB nearly 5 billion Series A financing, valuing it at nearly RMB 30 billion.

On April 18 of this year, Voyah launched the Zhuiguang sedan on the first day of the Shanghai auto show, offering three versions with a starting price of RMB 322,900.

Voyah has had a lukewarm sales performance over the past two years, selling 3,003 vehicles in May, bringing combined January-May sales to 12,024 units.

For comparison, (NASDAQ: LI), which currently only offers EREVs, delivered 28,277 vehicles in May for a combined January-May total of 106,542 vehicles.

($1 = RMB 7.1631)

Voyah deliveries in May: 3,003

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Arun Plus CATL CATL Thailand China Deals Electric eMobility eV

CATL to supply CTP battery pack production line to Thailand’s Arun Plus

and Arun Plus have entered into a CTP partnership agreement to provide the Thai company with a CTP production line and share CTP production technology.

(Image credit: CATL)

Chinese power battery giant CATL has entered into a new agreement with Thailand's Arun Plus, following the signing of a CTP (cell to pack) technology licensing agreement between the two a year ago.

CATL recently entered into a CTP partnership agreement with Arun Plus to provide the Thai company with a CTP production line and share CTP production technology, according to a press release yesterday.

The two parties will work to meet local demand for electric vehicle (EV) production in Thailand and help Thailand become a battery production hub in Southeast Asia, according to the release.

Arun Plus, the EV subsidiary of Thai state energy group PTT, has well-established energy infrastructure in Thailand.

In November 2022, Arun Plus established an EV manufacturing subsidiary to capitalize on the growing demand for electric vehicles in Thailand and Southeast Asia.

The latest partnership will help enhance Arun Plus' EV production capacity and drive the building of a power battery ecosystem in Thailand and Southeast Asia, CATL said.

It is also an important step in CATL's efforts to improve its global footprint and will help the company explore diverse partnership models in markets including Southeast Asia to accelerate the global electrification and clean energy transition, the power battery giant said.

On May 13, 2022, CATL announced that it had signed a strategic partnership memorandum with Arun Plus, licensing the latter to use CTP technology.

Arun Plus and CATL will supply battery products to Horizon Plus, a joint venture between Arun Plus and Foxconn that plans to produce EVs in Thailand in 2024, and other EV brands, according to last year's press release.

CTP is a technology that integrates cells into battery packs without modules, increasing the system energy density of packs, simplifying manufacturing processes and saving costs, CATL previously said.

On October 27, 2021, CATL announced an agreement with Hyundai Mobis, the parts division of Hyundai Motor, to license its CTP technology.

CATL will support Hyundai Mobis in the supply of CTP-related battery products in South Korea and globally, it said at the time.

Thailand in talks with CATL over potential battery plant

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China Deals Didi Chuxing Electric eMobility eV Self-driving Valeo

French auto parts maker Valeo to invest in Didi’s autonomous driving unit

Valeo and Didi Autonomous Driving will set up a joint R&D team to work on safety systems for L4 robotaxis.

French auto parts maker Valeo to invest in Didi's autonomous driving unit-CnEVPost

(Image credit: Didi)

French auto parts maker Valeo will invest in Didi Global's autonomous driving division to bet on the fast-growing segment in China.

On May 29, Valeo and Didi Autonomous Driving entered into a strategic partnership and investment agreement in which Valeo intends to invest in the latter and will jointly develop safety solutions for L4 robotaxis.

Valeo and Didi revealed the development in their respective press releases but did not mention the amount of the planned investment.

"Today, we are proud to sign this agreement to invest in DiDi Autonomous Driving and join our R&D efforts to develop safety solutions," Geoffrey BOUQUOT, Valeo Executive Vice President Strategy and CTO, said.

Valeo and Didi Autonomous Driving will form a joint R&D team to work on safety systems for L4 robotaxis.

To provide additional safety to users, Valeo and Didi Autonomous Driving will complement the main system of L4 standard technology with another set of hardware and software that will enable robotaxi to navigate autonomously and safely, according to their press releases.

This Automated Safety Pilot will provide redundancy for the primary system in the event of a sudden failure, as well as customized safety features designed for specific operating scenarios.

The customized intelligent safety solution will be able to take over and control the robotaxi to perform actions that ensure the safety of passengers and other road users.

This intelligent safety solution will initially be deployed on Didi Autonomous Driving's L4 robotaxis, according to their press releases.

Didi's autonomous driving team was founded in 2016, and the ride-hailing giant opened its first overseas AI lab in California in March 2017.

In 2019, Didi began ramping up its bet on autonomous driving, upgrading its autonomous driving division to a standalone company on August 5, 2019.

On April 13, Didi unveiled its driverless concept vehicle Didi Neuron at its autonomous driving open day event, eliminating the driver's seat and expanding the passenger space compared to Didi's first custom car, the D1, which was released in 2020.

Didi's autonomous driving team reached nearly 1,000 people, which is a threefold increase from 2020, Didi Autonomous Driving COO Meng Xing said at the time.

French auto parts maker Valeo to invest in Didi's autonomous driving unit-CnEVPost

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China Deals Electric eMobility eV Fund Raising Neo Fusion Nio

NIO invests in nuclear fusion startup Neo Fusion

has acquired a 19.9 percent stake in Neo Fusion and NIO Capital has acquired a 10.1 percent stake.

(Image credit: CnEVPost)

NIO (NYSE: NIO) has invested in a new nuclear fusion startup, its second such investment in the past year or so.

The Chinese electric vehicle (EV) maker has invested in nuclear fusion startup Neo Fusion and told CnEVPost that the project will be funded by multiple parties, including NIO and NIO Capital, in phases, and that it plans to attract additional strategic and financial investors to support the project's long-term development.

The investment was first reported by Reuters earlier today. NIO invested RMB 995 million ($142 million) for a 19.9 percent stake, while NIO Capital, an investment firm founded by its founder, chairman and CEO William Li, invested RMB 505 million for a 10.1 percent stake, according to the report.

The newly formed Neo Fusion will research and develop technologies aimed at making controlled fusion available for global commercial use within 20 years, the report noted.

Neo Fusion has a registered capital of 5 billion yuan and is 50 percent controlled by China's eastern province of Anhui government-owned energy companies and investment arms, according to the report.

"Fusion power is a clean and efficient energy source, and also potentially one of the ultimate clean energy solutions to sustainability, making fusion power strategically significant to carbon peaking and carbon neutrality, as well as solving the global energy crisis," NIO said in a statement sent to CnEVPost.

Staying true to the original aspiration of Blue Sky Coming, NIO aims to facilitate the R&D and commercialization of nuclear fusion technology by making financial investment into this project, so that it can play a bigger part in realizing long-term suitability and enhance its influence industry-wide, the statement said.

Notably, NIO Capital had invested in a company engaged in a similar business a year earlier.

On February 25, 2022, Energy Singularity, a startup researching nuclear fusion technology, announced the closing of a nearly RMB 400 million round of funding, its first since founding in 2021.

NIO Capital and local gaming giant miHoYo were co-leaders in the funding, with Sequoia China Seed Fund and Bluerun Ventures participating in the financing.

The funds will be used primarily to develop and build the world's first small-scale tokamak experimental device based on high-temperature superconducting materials, and to develop advanced magnet systems that can be used in the next generation of high-performance fusion devices.

($1 = RMB 7.0217)

NIO Capital invests in nuclear fusion technology startup

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Autoliv China Deals Electric eMobility eV Nio

NIO signs deal with Autoliv, world’s largest maker of airbags and seat belts

and Autoliv are working together to develop a new airbag concept that provides comprehensive protection for different seating positions.

(Image credit: CnEVPost)

NIO (NYSE: NIO) has entered into a partnership agreement with Autoliv Inc, the world's largest manufacturer of airbags and seat belts, as the Chinese electric vehicle (EV) maker continues to expand its partnerships.

Autoliv China, a subsidiary of Autoliv, signed a strategic cooperation framework agreement with NIO that includes several new safety technologies for EVs, according to a press release from the Swedish company.

NIO and Autoliv will develop safety products for EVs and sustainable technologies, which will include a passenger airbag that deploys from the headliner using an environmentally friendly inflator.

The two are also co-developing a new airbag concept that provides full protection for different seating positions, according to the press release.

This could provide better protection and offer more freedom in the design of vehicle interiors, Autoliv said, adding that it also includes biology-based materials for both airbag cushions and seatbelt webbing.

"We have a shared commitment to innovation and sustainability, and we expect the cooperation will be extended to more areas, as we strive to enhance the driving experience and provide pleasant journeys for all global users", said Yu Pan, vice president of supply chain development at NIO.

This is the latest collaboration between NIO and auto parts suppliers.

On May 2, Dutch-headquartered computer chip maker NXP Semiconductors announced that NIO will use its 4D imaging radar solution, which offers benefits far beyond those of conventional radar.

4D imaging radar will significantly improve the performance of front-facing radar in today's vehicles, and NXP's imaging radar technology extends the functionality of radar from measuring range and speed to include direction, angle of arrival and altitude measurements, the chipmaker said.

NIO delivered 6,658 vehicles in April, up 31.22 percent from 5,074 a year ago, but down 35.85 percent from 10,378 in March, as its product switch continues.

The EV maker is now marketing the new ES6 with unprecedented intensity, with the model set to be officially launched on May 24 and deliveries to begin on May 25.

NIO pins high hopes on new ES6 with unprecedented delivery efficiency and marketing campaign

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BYD China Deals Electric eMobility eV

BYD secures new land in Guangdong for NEV projects

Since October 2021, BYD has acquired five mega industrial sites in the Shenzhen-Shanwei Special Cooperation Zone, with a combined area of more than 4.1 million square meters.

BYD secures new land in Guangdong for NEV projects-CnEVPost

(Image credit: CnEVPost)

BYD (OTCMKTS: BYDDY) has secured a new land parcel in Guangdong to prepare for its construction of new projects.

On May 15, a plot of land of more than 520,000 square meters in Shenzhen's Shenzhen-Shanwei Special Cooperation Zone was acquired by BYD for RMB 376 million ($5.4 million), according to an announcement by the local government yesterday.

This is the fifth mega industrial site BYD has acquired in the special cooperation zone, which will be used to build BYD's automotive industrial park projects, according to the announcement.

Shenzhen-Shanwei Special Cooperation Zone is an enclave of Shenzhen, located in Shanwei city, Guangdong province, but managed by Shenzhen, the first special cooperation zone in China.

BYD has been granted a land area of 522,400 square meters, with a building area of 1.12 million square meters and a land use term of 30 years.

BYD secures new land in Guangdong for NEV projects-CnEVPost

(The 5th plot of land acquired by BYD in Shenzhen-Shanwei Special Cooperation Zone.)

Since October 2021, BYD has been granted five mega industrial sites in the Shenzhen-Shanwei Special Cooperation Zone, with a combined area of over 4.1 million square meters.

These sites will all be used for BYD's automotive industrial park projects, which are important for the zone to create an industrial pattern with a new energy vehicle (NEV) industry as the main focus, complemented by new energy storage, new materials and intelligent manufacturing robots, the local government's announcement said.

The first and second phases of BYD's project here have a total investment of RMB 25 billion, and the annual output value is expected to exceed RMB 110 billion when all production is reached, according to the announcement.

In June last year, BYD acquired a plot of land with an area of over 554,500 square meters in the special cooperation zone for RMB 403 million, which will be used for the first phase of the local BYD industrial park.

The first phase of the project, with a planned total investment of RMB 5 billion, will mainly produce auto parts and is expected to have an annual output value of about RMB 10 billion and 18,000 employees after it goes into operation, according to a report by Shenzhen Economic Daily at the time.

($1= RMB 6.9525)

BYD posts Apr NEV sales of 210,295 units, up 1.55% from Mar

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BYD China Deals Electric eMobility eV Weichai Power

BYD to supply batteries to China’s largest diesel engine maker

BYD and Weichai Power will build a power battery development and manufacturing base in Shandong province, where the latter is headquartered.

(Image credit: CnEVPost)

BYD (OTCMKTS: BYDDY), one of the world's largest manufacturers of power batteries, is expanding its customer base.

BYD and Weichai Power, China's largest diesel engine maker, signed a strategic cooperation agreement in Shenzhen on May 12 to collaborate on the joint production of power batteries, according to a post by the latter on Weibo.

Tan Xuguang, chairman and CEO of Weichai, and Wang Chuanfu, chairman and president of BYD, attended the signing ceremony, according to the article.

(Image credit: Weicai Power)

The two sides will produce power batteries in a joint venture in Shandong to build a power battery R&D and manufacturing base to promote the development of new energy commercial vehicles in China, the article said, without providing further details.

Weichai, based in Weifang, Shandong province, posted revenue of RMB 53.4 billion ($7.67 billion) and net profit of RMB 1.86 billion in the first quarter, according to its financial report.

Weichai began its involvement in the new energy business in 2010, especially in the fuel cell sector.

The company has a new energy engine base in Weifang, and its chairman, Tan, is also chairman of Sinotruk, which has a new energy heavy truck manufacturing base in Jinan.

BYD is the world's largest maker of new energy vehicles (NEVs) and the world's second-largest maker of power batteries.

BYD installed 21.5 GWh of power batteries in the first quarter, ranking second globally with a 16.2 percent share, behind 's 35.0 percent, according to data released earlier this month by South Korean market research firm SNE Research.

In China, BYD installed 7.32 GWh of power batteries in April, ranking second with a 29.11 percent share, according to the China Automotive Battery Innovation Alliance (CABIA). CATL ranked first in China with a 40.83 percent share in April.

In Shandong, where Weichai is headquartered, BYD has a car assembly plant, a power battery factory and a chip factory.

($1 = RMB 6.9637)

China EV battery installations in Apr: BYD regains top spot over CATL in LFP market

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China Deals Electric eMobility eV Gotion High-Tech Industry News Volkswagen

Gotion becomes VW’s designated battery supplier for markets outside of China

The purchase order involves LFP Unified Cell products with the same design style and specifications as those for the Chinese market for Volkswagen's full range of NEVs.

(Image credit: CnEVPost)

Gotion High-tech, a Chinese power battery manufacturer, has become a supplier to Volkswagen for the German automaker's overseas markets, furthering the partnership between the two.

Gotion's wholly-owned subsidiary Hefei Gotion High-tech Power Energy Co Ltd recently received a procurement letter from Volkswagen, making the company a designated supplier for the automaker's overseas markets, according to a stock exchange announcement on May 10.

This is the latest collaboration between Gotion and Volkswagen, which is its important backer, after becoming the designated production point for Volkswagen's NCM and LFP products in China in early 2022.

The purchase order relates to LFP Unified Cell products, which will be used in Volkswagen's models in markets outside of China.

These cells use the same design style and specifications as the Chinese market and are intended for use in Volkswagen's full range of NEVs, according to the announcement.

Volkswagen and Gotion have had a long-standing relationship, with a strategic cooperation framework agreement reached in July 2021 in which Gotion developed the first generation of Unified Cells for Volkswagen's regular production models in China.

In December 2021, Volkswagen China increased its stake in Gotion to 26.47 percent, making it the largest shareholder of the Chinese battery maker.

Unified Cells can significantly reduce costs by adopting a unified design standard and are expected to cover 80 percent of Volkswagen's models in the future, according to Gotion's press release.

In early 2022, Gotion was awarded the official production point for Volkswagen China's NCM and LFP Unified Cells. In February this year, the company won the Volkswagen Cell Test Lab qualification.

In addition, construction of a high-nickel NCM material project built by Volkswagen's private placement has begun in Lujiang, Hefei, and is expected to go into production this year, Gotion said in the press release.

The 20GWh Volkswagen Unified Cell project in Xinzhan, Hefei, has almost completed the main workshop and supporting buildings and is expected to start production in the second half of this year, Gotion said.

Gotion is one of the largest power battery makers, with 2.9 GWh installed in the first quarter, ranking 8th globally with a 2.2 percent share, according to data released earlier this month by South Korean market research firm SNE Research.

Global EV battery market share in Q1: CATL 35%, BYD 16.2%-CnEVPost

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Changan China Deals Electric eMobility eV Geely

Chinese auto giants Geely and Changan sign strategic cooperation deal

In the first quarter, Changan and Geely ranked third and fourth, respectively, in China in terms of retail vehicle sales.

Chinese auto giants Geely and Changan sign strategic cooperation deal-CnEVPost

(Image credit: Geely)

It's interesting to see tow of China's largest automakers announce a cooperation agreement, even though they are rivals.

Zhejiang Geely Holding Group and Chongqing Changan Automobile signed a strategic cooperation framework agreement on May 9, according to press releases issued today by the two companies.

The two sides will launch strategic cooperation in areas including new energy, intelligence, new energy power, overseas market expansion, and mobility to jointly promote the upward development of Chinese brands, according to their press releases.

This this will help create a better consumer and travel experience for users and help transform and upgrade the Chinese auto industry and develop with high quality, the two companies said.

Changan chairman Zhu Huarong, Geely chairman Eric Li, and Fu Bingfeng, executive vice-president of the China Association of Automobile Manufacturers (CAAM) attended the signing ceremony.

Changan and Geely are excellent representatives of Chinese auto companies, and the open cooperation between the two is conducive to building the image of Chinese auto brands and spawning industry synergies, said Fu.

Intelligence and electrification are the focus of the strategic cooperation between Geely and Changan.

In the field of new energy, the two sides will cooperate on battery cells, charging technology, battery swap technology, new energy vehicle (NEV) product safety, and new energy industry layout.

In the field of intelligence, they will cooperate around chip, operating system, vehicle system interconnection, high-precision map and autonomous driving.

The two sides will also work together on power platform and power technology, explore cooperation in overseas development and mobility ecology, and cooperate in the fields of industrial internet, block chain and carbon trading.

The two companies will work together to enhance their core competitiveness and help Chinese vehicles enter the middle and high end of the global automotive value chain, said Geely's Li.

Neither Geely nor Changan -- which ranks in the top five in Chinese auto sales -- provided more details on their partnership in their press releases.

In the first quarter, Changan sold 302,898 vehicles at retail, making it the No. 3 brand in China for the period, according to the China Passenger Car Association (CPCA).

Geely ranked fourth with retail sales of 269,701 units in the first quarter. The top two were BYD and FAW-Volkswagen, with retail sales of 508,706 and 368,762, respectively.

Geely Galaxy brand officially launched, to roll out 7 models by 2025

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