Changan Motor's Stake in Changan NIO Rises to 95.38%

-
On August 31, Changan Automobile released its 2020 half-yearly report showing that its stake in Changan NIO New Energy Vehicle Technology Company Limited ("Changan NIO") increased from 50% to 95.38%, and that it will acquire Changan NIO through a new wholly-owned subsidiary, Chongqing Changan Automobile Software Technology Company Limited ("Changan NIO"). In April 2017, Changan and NIO signed a strategic cooperation agreement to carry out multi-faceted cooperation mainly around the smart grid connection and new energy vehicle industry chain, and jointly funded the formation of Changan NIO. The cooperation between Changan and NIO is an important part of its entry into the new energy sector, and even NIO is an important bargaining chip in promoting the landing of mid- and high-end electric car brands in this project. Why has Changan started to break up with NIO now? Some related insiders said that Changan is to build its own high-end new energy brand. Changan has yet to reply.

Comments

Post a Comment

Popular posts from this blog

NIO Opens China HQ in Hefei

-
Image
On the morning of October 9, NIO announced the opening of its headquarters in Hefei, the economic and opening block of the Anhui Pilot Free Trade Zone. NIO China HQ (Credit: NIO) As previously reported, NIO will establish a headquarters management, research and development, sales and service, and supply chain manufacturing integration base in Hefei. At the end of April this year, NIO signed an agreement with Hefei Construction Investment Holding (Group) Co Ltd, State Investment and Merchants Investment Management Co Ltd, and Anhui High-Tech Industry Investment Co Ltd, securing a 7 billion RMB investment from the latter three to establish NIO (Anhui) Holding Co Ltd. The majority of Celeste's domestic business and assets (valued at RMB 17.77 billion) will be injected into the company. NIO INC (the listed entity) will hold 75.9 percent of the joint venture, while investors will own 24.1 percent in total. The implementation of NIO China means that NIO has a concrete entity to raise fun...
Read more

NIO Launched The 100kwh Battery Pack

-
Image
NIO launched the 100kWh battery pack on Nov 6. The new battery pack will be compatible with all existing models. The new battery pack costs RMB 5,400 for non-BaaS users to upgrade from 84kWh to 100kWh, and RMB 58,000 for 70kWh users. William Li, founder, chairman, and CEO of NIO said at the scene that all models support battery pack upgrade, and the NEDC range of ec6 will increase to 615km, es6 to 610km, and the new es8 to 580km.  The new 100kWh battery pack supports all-weather temperature control, non-heat spreading safety design, and highly integrated CTP, which increases energy density by 37%. New option owners and permanent upgrade owners can book the service from November 7, with deliveries to follow in December this year.
Read more