Singulato’s fundraising follows an around $1 billion financing deal for another Chinese EV start-up WM Motor, again largely involving a municipal government. Other well-funded Chinese electric car start-ups include Future Mobility, LeEco’s LeSee, Next EV, Ch-Auto’s Qiantu Motor, and Changjiang Auto, as well as U.S.-based Chinese-funded start-ups Atieva and Faraday Future.
Indian conglomerate Mahindra & Mahindra is re-thinking the strategy for its loss-making Korean automaker Ssangyong Motor Co, tapping the brakes on its planned push into the United States to focus instead on China. Mahindra‘s Executive Director Pawan Goenka told Reuters the company was in talks with Chinese firms to enter into… Read more »
The Swedish automaker once known as Saab has emerged as part of China’s push to make electric vehicles a mass-market alternative to petrol cars, after getting a $12 billion order for EVs. Chinese-owned National Electric Vehicle Sweden (NEVS) – the company that acquired Saab‘s assets, though not its name – said… Read more »