16 h. ago Chinese EV maker Nio eyes US$1.1 billion in proceeds from share placement

Chinese electric vehicle (EV) maker Nio plans to raise more than US$1 billion in fresh funds with a share sale to enhance its development and replenish capital amid a price war. In a statement on Wednesday, the Shanghai-based carmaker said 181.8 million new shares would be issued, which would be allocated between its American depositary shares (ADS) and its ordinary stock. Nio is listed in the US, Hong Kong and Singapore. Investors can subscribe to the ADS, to be traded on the New York Stock...

Economics

20 h. ago China aims to dominate the skies in the race to make flying cars the transport of the future

AeroHT, an affiliate of Chinese electric vehicle (EV) maker Xpeng, is preparing to enter European airspace as it edges closer to mass production of its flying cars following more than 5,000 orders. The start-up – controlled by Xpeng co-founder and CEO He Xiaopeng – will also conduct its first overseas test flight of its eVTOL (electric vertical take-off and landing) vehicle in Dubai next month. “We are not sure about the recognition or acceptance of products by the customers yet, but I’m happy...

Sport

3 d. ago Chinese battery maker CATL expects Hungarian production to start by early 2026

Chinese battery maker CATL expects Hungarian production to start by early 2026  Reuters

Politics

5 d. ago Chinese gadget maker Baseus launches premium sound line at IFA Berlin

Chinese consumer electronics maker Baseus launched a premium line of audio products at a global trade fair on Thursday, bolstering its international presence at a time when intense competition at home is pushing more domestic gadget firms to look overseas. Shenzhen-based Baseus unveiled its Inspire line at the Internationale Funkausstellung Berlin, also known as the IFA Berlin trade fair, which includes three headphones and earbuds developed in partnership with Bose, the US company known for...

Politics

9 d. ago Chinese humanoid robot maker UBTech gets US$1 billion funding boost

UBTech Robotics, a leading Chinese manufacturer of factory robots, has secured a credit line of up to US$1 billion from a Hong Kong investment firm to finance its production expansion, including a joint venture in the Middle East. The Hong Kong-listed company said in an exchange filing on Sunday it would receive funding from Infini Capital, an investment conglomerate headquartered in Hong Kong and Abu Dhabi. The support would come through share allocations, convertible bonds and expedited...

Economics

1 week ago BYD profits fall as mainland price war swamps EV export surge

China’s electric-vehicle (EV) king BYD reported a 30 per cent drop in profits in the second quarter as surging overseas sales failed to offset the negative impact of a brutal price war in the domestic market. The Shenzhen-based company earned 6.4 billion yuan (US$894.6 million) in the three months to June, down 29.9 per cent from a year earlier. Revenue grew 14 per cent year on year to 201 billion yuan. The second-quarter numbers are derived by comparing BYD’s interim earnings to its results for...

Economics

1 week ago A Chinese robot vacuum maker is not only trying to build luxury EVs, but compete with Bugatti

A Chinese robot vacuum maker is not only trying to build luxury EVs, but compete with Bugatti  Electrek

Politics

2 w. ago Li Ning’s interim profit dips 11% amid tough competition in sportswear market

Chinese sportswear and equipment maker Li Ning posted a drop in interim profit, as weak consumer sentiment weighed on spending and intensifying industry competition squeezed profitability, with management warning of “stronger-than-expected” challenges in the second half. Net profit for the six months to June fell 11 per cent to 1.74 billion yuan US$241.9 million from a year ago under global accounting standards, according to a statement late on Thursday. Sales rose 3 per cent to 14.82 billion...

Economics

3 w. ago Drone leader DJI’s latest challenger is a Chinese robot vacuum maker

Dreame Technology, a Chinese brand known for its robot vacuum cleaners, is actively recruiting drone experts in what is seen as a move to compete with DJI, the dominant player in the market, amid growing competition from innovative hardware start-ups. The company is advertising at least 10 positions – including drone navigation modelling algorithm engineer, drone test pilot, drone operations sales director and business director for the pan-aviation industry – according to job postings on the...

Politics