Motors Tracker

Xpeng, a Chinese smart electric vehicle producer, seeks to raise USD1.1 billion from its initial public offering on the New York Stock Exchange  with a ticker ‘ XPEV ’, being the 3 rd  Chinese carmaker to get listed in the  world ’ s largest capital market  after Nio and Li Auto.  The Guangzhou-based firm is selling 85 million American depository shares (ADS) with a price between USD11 and USD13, according to the firm’s files submitted to the US Stock Exchange Commission  yesterday . XPeng ’ s market capitalization is expected to be USD9.17 billion if the share price is fixed at USD13.  BofA Securities, Credit Suisse Securities (USA) and J.P. Morgan Securities are acting as joint book-running managers of the offering and as representatives of the underwriters.  Simplicity Holding Limited holds 2 6.4  percent of XPeng, the e-commerce giant Taobao China Holding holds 14.4  percent, IDG entity has 6.2 percent, while the executive team has 4...

Chengdu Auto Show, one of the first key auto shows after the Covid-19 outbreak this year, begins today. The Southwestern city-based auto show will run until August 8, with more than 1500 vehicles from 120 car brands attracted.  Below is a list of some new models for this event.  Nio EC6: This is the Chinese EV start-up’s third car after ES8 and ES6, priced between CNY368,000 and CNY468,000. It has an NEDC range of 430 kilometers to 610 kilometers, and one model is expected to deliver in September.   Haval Dagou ‘Big Dog’: This is regarded as a replacement of the traditional H5 by the Great Wall.   Ora Baimao ‘White Cat’: This electric vehicle of the EV brand of Great Wall is priced between CNY75,800 and CNY88,000. BYD Song Plus and BYD Song Plus EV: the ICE model is equipped with a 1.5-liter petrol turbo engine, while the all-electric version had an NEDC range of up to 505 kilometers.   Wuling Hongguang X concept: This is the concept car under the new Ursa brand...

Nio’s new battery asset management company will start operating next month making the Chinese electric vehicle startup’s vision of separate ownership of car and battery a reality. Battery giant Contemporary Amperex Technology is keen to invest in the new venture, technology media 36Kr reported today, citing people familiar with the matter. Nio’s battery swap concept has been a long time in the making and it is currently the only new energy vehicle maker in China with battery swap technology. Consumers can buy the battery with the vehicle or they can choose to rent a battery. The new unit will manage Nio’s power battery assets and offer Battery as a Service products, in other words the rental of a range of electric car batteries that can be adapted to fit the particular needs of different car owners and minimize costs. Battery rental can lead to savings of CNY100,000 (USD14,290), according to the Shanghai-based firm’s website. Batteries can also be exchanged immediately, doing away with...

Nio's stock price rose to a historic high after it said that Chinese tech giant Tencent Holdings, the new energy vehicle maker's second-biggest shareholder, has bought more shares. Nio's equity price [NYSE: NIO] reached an all-time high of USD16.44 intraday yesterday in New York, after which it closed 7.6 percent down at USD13.84, with a market cap of USD15.4 billion. This year, the shares have nearly quadrupled in price. Tencent had a 16.3 percent stake in Nio as of July 8, according to the Shanghai-based car company's filing with the US Securities and Exchange Commission yesterday. The Shenzhen-based internet firm has been increasing its holdings lately. Nio issued 60 million American Depositary Shares on June 9 at a price of USD5.97 and Tencent bought 1.7 million of them, spending USD10 million. It had a 15.1 percent stake after that.  

Chinese new energy vehicle start-up Nio, which is fast running out of money, has secured CNY10.4 billion (USD1.5 billion) in loans from the local branches of six big state-owned banks. The Anhui province branches of the China Construction Bank, the Industrial and Commercial Bank of China, the Bank of China and the Agricultural Bank of China together with the Industrial Bank and China Merchant’s Bank’s Hefei offices agreed to extend the loans today. The good news saw a collective surge in the shares of mainland-listed NEV makers. Anhui Jianghuai Automobile Group [SHA:600418], also known as JAC Motors and also based in Hefei, hit the exchange-imposed daily limit of 10 percent to reach CNY11 (USD1.57). BYD [SHE:002594] had climbed 7 percent to CNY90 a share by early afternoon.