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China’s Xiaomi unveils first EV

December 28, 2023 10:09 AM EST

Chinese smartphone maker Xiaomi unveiled its first electric vehicle (EV) on Thursday, while also announcing the companys ambitious goal of becoming one of the worlds top five automakers.

The upcoming sedan, named SU7 (with SU standing for Speed Ultra), is generating a lot of excitement. Chief Executive Lei Jun has highlighted its "super electric motor" technology, boasting acceleration speeds faster than those of Tesla (NASDAQ: TSLA)... More

Nio (NIO) announces closing of $2.2B investment deal

December 27, 2023 1:36 PM EST

Chinese electric automaker, Nio Inc. (NYSE: NIO) announced Wednesday that the company has closed the US$2.2 billion strategic equity investment from Abu Dhabi-based CYVN Investments.

CYVN completed a significant strategic equity investment of US$738.5 million in the Company back in July. As part of... More