More

    NIO plans to issue 69 million ADS shares to raise a maximum of US$412 million

    Suzan
    -
    0
    NIO plans to issue 69 million ADS shares to raise a maximum of US$412 million

    On June 10, NIO issued an announcement saying that 60 million shares of American Depositary Shares (ADS) would be issued at an issue price of $5.97/ADS. NIO also plans to grant the underwriters an additional 30-day placement rights to purchase up to 9 million additional ADSs. If all 69 million ADSs are issued, NIO will raise a maximum of US$412 million, to prepare for the capital injection of NIO’s China headquarters.

    Morgan Stanley, Credit Suisse and CICC are the joint underwriters for this ADS issue.

    NIO said that its shareholder Tencent showed interest in subscribing to the ADS valued at no more than US$10 million in the offering, and the offering price was the same as the terms of other American depositary receipts to be issued in the offering. Assuming that the issue price of ADS per share is $5.97, Tencent can purchase up to 1.675 million shares of ADS, accounting for approximately 2.8% of the ADS issuance.

    NIO said that the funds raising this time will be used for cash investment and other working capital needs of NIO China project. NIO China is expected to use funds for research and development, manufacturing and supply chain, operation and expansion of sales and service network, and other business support.

    On April 29, NIO and its strategic investors such as Hefei Construction Investment Holdings (Group) Co., Ltd., SDIC China Merchants Investment Management Co., Ltd., Anhui High-tech Industrial Investment Co., Ltd., and Hefei Economic and Technological Development Zone reached an agreement on the project of NIO China headquarter. According to the investment agreement, the above strategic investors will invest 7 billion yuan in NIO China, and NIO will invest 4.26 billion yuan in NIO China.

    NIO delivered a total of 3,436 electric vehicles in May, setting a monthly delivery record. Since March, NIO’s delivery volume has been growing for three consecutive months, and the number of deliveries in May increased by 215.5% year-on-year.

    NIO once predicted in the first quarter of 2020 financial report that the total delivery in the second quarter will reach 9,500 to 10,000. At present, this target has been completed 65.9% to 69.4%, and it can be completed by delivering 2090 to 3409 vehicles in June. If the goal is achieved, NIO will create the first single-season record of breaking 10,000.

    JAC Jiayue X4 to Launch soon in China with a 1.5T engine

    Tate
    -
    0
    JAC Jiayue X4 to Launch soon in China with a 1.5T engine

    Recently, we learned from JAC official that its all-new small SUV, Jiayue X4, will be officially launched in the middle or late June. The new SUV will be powered by a 1.5T engine, meeting CN-6b emission standard. At present, the real car has been produced in small quantities.

    From the appearance, the new car adopts a new design language. The narrow-strip front grille is adorned with chrome trim, and the bar-type air intake below, looks neat. The side of the body adopts a double waistline design, which brings a dive attitude and highlights the sense of movement of the new car. At the same time, the new car uses a hidden B/C column design to create a suspended roof effect.

    From the rear, the overall design of the rear is round, but the use of lines is richer, which brings a certain sense of hierarchy. At the same time, the new car will also adopt a bar-type tail light unit design. In terms of body size, the length, width and height of the new car are 4410/1800/1660mm, the wheelbase is 2620mm, and it is positioned as a small SUV.

    In terms of interior, the new car adopts an all-black design style, and is adorned with chrome elements in many places in the car. The new car uses a three-spoke multi-function steering wheel, with a floating 10.25-inch central control LCD screen and LCD instrument. Among them, the new car central control screen integrates J-Link Zhiling 3.5 car networking system and iflytek car voice 3.5 system, it also supports mobile App remote control. In addition, the 10.25-inch LCD instrument can switch among 3 modes freely, display the navigation path, and improve driving safety.

    In terms of power, JAC Jiayue X4 is powered by a 1.5T engine with a maximum power of 150 horsepower (110 kilowatts) and a peak torque of 210 Nm, which meets the national six b emission standard. In terms of the transmission system, it is matched with CVT and 6MT gearbox.

    NIO issued a statement: “NIO EC6 explosion” is a rumor

    Suzan
    -
    0
    NIO issued a statement: “NIO EC6 explosion” is a rumor

    June 9th, NIO Automobile issued a statement in the early morning that anonymous persons posted multiple rumors against NIO on the online platform on June 7th to 8th, the anonymous persons continuously used pictures of other brands’ spontaneous combustion, fabricated rumors that the incident in the picture was the NIO EC6, and claimed that there were casualties, and even lied to the Jiading (Shanghai) police to confuse the audience.

    NIO said that the content released by the anonymous person about NIO EC6 was deliberately fabricated and was malicious harm to NIO and employees.

    In addition, NIO also said that In view of the fact that this behavior has caused extremely bad influence on NIO’s corporate reputation, NIO has taken the necessary legal measures to protect its own rights and interests.

    According to the data, EC6 is the third mass-produced EV on NIO Day on December 28 last year, and it is also its first coupe SUV model.

    As the third mass-produced model launched by NIO after ES8 and ES6, NIO EC6 can be regarded as a slip-back version of ES6. Compared with ES6, it has a stronger sense of movement. it has a maximum NEDC range of 615km, which surpassed ES6 and ES8 models. It is reported that NIO EC6 will be on sale in July and then delivered in September.

    Spy Photos of all-new Haval H6 leaked with new appearance

    Tate
    -
    0
    Spy Photos of all-new Haval H6 leaked with new appearance

    At the beginning of April this year, it was revealed that the Haval H6 will usher in a new generation. The new car is built on the new platform of Great Wall Motors. The space performance is better, and it will have hybrid, HEV and PHEV. Recently, a set of spy photos of a suspected new Haval H6 was revealed online. The exterior of the car uses a new design language, adding many sports elements. In terms of power, the new Haval H6 is expected to be powered by the third-generation 1.5T engine of Great Wall Motors, which is stronger than the 1.5T currently used.

    The new car gives the first impression that it is very capable. The headlights on both sides are slender and flat, which widens the overall visual width of the head. It is expected that traditional lens headlights and matrix LED headlights will be used according to different configurations. The design of the front grille is flat, the internal trim is denser, more imposing than the current model.

    The shape of the bumper area is significantly different from that of the current model. The fog lamp areas on both sides are triangular in shape, incorporating vertical strip-shaped LED light strips and adding chrome trim. The lower bumper adopts a three-stage air inlet or incorporates a black matte trim. On the side of the body, the new Haval H6 uses a bar-type double waistline design, the rear window area is larger than the current model. The body length and the riding space in the car will perform better.

    The new Haval H6 adopts the design of a penetrating tail light group that flows from now on, the tail looks layered. In addition, the new car uses a hidden exhaust layout design, with a large black area underneath. The new Haval H6 uses the Great Wall Motor’s new B30 platform, with a body length of about 4.65 meters (4600mm in cash).

    In terms of interior, the new Haval H6 has also undergone major adjustments, it is equipped with two LCD screens that are not small in size, which are particularly conspicuous. In addition, the new car also uses a knob-type gear shift and is equipped with an electronic handbrake, which is very similar to a new energy model. In addition, the “T” shaped area in front of the armrest is hollowed out to further enhance the storage capacity and is expected to increase the wireless charging function.

    The new car will most likely be powered by the Great Wall Motor’s third-generation 1.5T engine. The engine has been slightly adjusted for the bore and stroke. The maximum thermal efficiency can reach 38%, which meets the national VI b and Euro VI d emission standards, the transmission system is expected to still match the 7DCT gearbox.

    Great Wall Motors PAO Off-road pickup officially launched, price started at 169,800 yuan

    Tate
    -
    0
    Great Wall Motors PAO Off-road pickup officially launched, price started at 169,800 yuan

    We learned from the Great Wall Motors official that its PAO off-road pickup was officially launched, it is offered in three variants, all of them are gasoline models, with a guide price range of 169,800-199,800 yuan (~US$23,980 – US$28,217). There will be also diesel model available soon and is expected to be listed at the Chengdu Auto Show in July.

    “PAO” in Chinese means “Cannon” or “Big gun”, GWM’s official spokesperson once said during an auto show: “The “PAO”, when heard, is a plosive, it is a sense of power and bursts of power, through the pronunciation of “PAO”, and the meaning of Chinese characters, gives our product more explosive power and aggressive.”  GWM has achieved great results in pickup lineup in the Chinese market, the launch of the PAO series represents the ambition of the GWM to conquer the international global market

    Compared with the PAO passenger pickup and commercial pickup, it uses a more rugged appearance kit, further strengthens the off-road ability, which also makes its appearance look wild. Although the visual grade is not as good as PAO passenger pickup, for the later maintenance and modification, the cost will be greatly reduced.

    In terms of body size, the length, width, and height of the new car are 5437/1958/1893 (1918) mm, the wheelbase is 3230mm, and the length, width, and height of the truck bed rails are 1520/1520/538mm.

    In the rear part, the new car is also equipped with a full LED tail light group, it is equipped with a ramp ladder slot on truck bed, which is convenient for loading and unloading goods. As an off-road pickup, its off-road configuration is also armed to the teeth. For example, it is equipped with T-MAX nylon rope winches with metal front and rear bars and a maximum pulling force of 9500 pounds. The Cooper DISCOVERER AT3 specification is 265/65 R18, wading hose, optional sand cup, maximum wading depth 700mm, rear double trailer hook and trailer lighting power interface, etc.

    The interior part is what we are familiar with. It is basically the same as PAO passenger pickup. It uses a bolder black and red color matching in the color matching and adds diamond stitching to the details to enhance the interior texture. The internal width is good, it uses relatively straight lines, so sitting in the car will make you feel that the lateral space of the vehicle is ample. A large area of soft slush plastic wrap is added to the center console side of the materials. The visual effects and touch have good performance, and the overall sense of grade is well established.

    In terms of power, the gasoline version launched this time is powered by a 2.0T turbocharged four-cylinder engine, with a maximum power of 190 horsepower (140 kW), a maximum torque of 360 Nm. The diesel version that is going to be launched in July is expected to use a 2.0T diesel engine with a maximum power of 166 hp (122 kW). The transmission system is matched with the 8-speed automatic transmission from ZF, and it has 7 all-terrain driving modes: economic/standard/sports/snow/muddy/sand/4L.

    NIO: delivery hits new record in May, more than three times the same period last year

    Suzan
    -
    0
    NIO: delivery hits new record in May, more than three times the same period last year

    According to the news on June 4, NIO released the delivery data for May 2020. Its May delivery volume totaled 3,436 units, which was more than three times the same period last year and an increase of 215.5%. As of May, NIO delivered 6591 units in the second quarter.

    Among them, NIO ES6 delivered 2685 units in May. Since the delivery began in June 2019, the cumulative delivery of ES6 has exceeded 20,000 units, with a total delivery volume of 20668 units; NIO ES8 delivered 751 units in May since 2020, the cumulative delivery of ES8 has reached 21,674 units. As of May, the cumulative delivery number of NIO brand exceeded 40,000 units, reaching 42,342 units.

    NIO revealed that according to the recent sales trend, the total number of deliveries in the second quarter 2020 is likely to exceed the expectations of 10,000 units, creating the first single-season record in NIO’s history.

    On May 28, NIO gave the expected number of second-quarter deliveries of 9,500 to 10,000 ES8 and ES6 in the first quarter of 2020 financial report. Li Bin, founder, chairman and CEO of NIO, also said in the earnings conference call that evening that he was confident of reaching the historic quarterly delivery high in the second quarter.

    In addition, Li Bin said that the company’s gross profit margin is expected to be positive in the second quarter, of which the gross profit margin of the automotive business is expected to exceed 5%.

    CFO Feng Wei said that although the number of working days in May has decreased, it is good to see NIO’s monthly delivery momentum is strong. “We expect to achieve the delivery target for the second quarter of 2020, while the company will continue to increase gross margins and reduce operating losses.”

    NIO ES6 Night Explorer

    It is reported that since April, NIO’s work in the supply chain, manufacturing, sales, service, research, and development has gradually returned to normal. As of June 4, NIO has opened 116 stores nationwide, including 22 NIO Centers and 92 NIO Spaces, with a sales network covering 76 cities across the country.

    In addition, a series of changes have recently occurred in the external environment. It is reported that on April 24, the Chinese government issued a new policy for new energy vehicle subsidies: models with a price of higher than 300,000 yuan (~US$42140) will no longer be eligible for new energy subsidies, except for vehicles with battery-swapping models.

    Soueast DX7 Facelift Debuts with a New Name: Xing Yue

    James
    -
    0
    Soueast DX7 Facelift Debuts with a New Name: Xing Yue

    Soueast Motor officially stated that the new Soueast DX7 was officially named Soueast DX7 Xing Yue, and the official image was also released. As a mid-term facelift model, the new car has undergone major changes in appearance. According to previous reports, the new car is expected to be officially listed in the second half of this year.

    Compared with the current model, the Soueast DX7 XinYue has more obvious changes in the front face part. The front face mesh uses a polygonal shape, and the interior is matched with a lattice grille design, which looks more fashionable. The front grille of the new car is connected with exaggerated headlights. The official name is the “star & feather” design.

    The design of the double waistline on the side of the body makes the new car look more three-dimensional. The new Soueast DX7 Xing Yue maintains a high degree of similarity with the current model. In terms of body size, the length, width and height of the new car are 4570/1905/1720mm and the wheelbase is 2700mm. In addition, the new car also uses 18-inch metal cutting two-color aluminum alloy wheels, more visual impact.

    In the rear part, the new DX7 Xing Yue also has very obvious changes. The new car has replaced the smaller taillights with LED light sources inside. At the same time, the rear bumper of the new car also echoes the front face in shape, and the rear LOGO has also been updated to the latest letter style.

    Interior design of Soueast DX7 facelift
    Interior design of 2019 Soueast DX7

    For the interior, we don’t expect much adjustment. The new car will be equipped with a 10-inch floating LCD screen, which creates a sense of quality through piano paint panels, metal texture strips, and wood-grain decorative panels. It is reported that the new car will further improve the materials used in the car.

    In terms of power, the new car will be powered by aerospace Mitsubishi’s latest 4A95TD 1.5T in-cylinder direct-injection engine. The previously reported information showed that the maximum power of this engine reached 197 horsepower, which reached the same level as the current DX7 1.8T engine.

    Spy Photos of new-gen Haval H6 leaks with a new style

    Tate
    -
    0
    Spy Photos of new-gen Haval H6 leaks with a new style

    We obtained a set of spy photos of Haval’s new SUV from Chinese media. We have reported the patent images of the car before. The new car is likely to be the all-new Haval H6. According to previous news, the new car will be mass-produced off the assembly line in July and is expected to be officially launched in August.

    The one in the left is speculated the new-gen Haval H6, the other one is Haval B06

    In terms of appearance, the front face of the new car adopts Haval’s new family-style design. You can see the use of a larger hexagonal front air intake grille. The front bumper uses a fangs design, which is more imposing than the old model, LED daytime running lights are integrated in the headlights, and it is expected that traditional lens-type headlights and matrix-type LED headlights will be used according to different configurations. The new gen Haval H6 will use Great Wall Motor’s new B30 platform, and the body length is expected to be around 4650mm.

    In the rear part of the car, the spy photos are covered with thick camouflage in the middle of the tail lights, but it is not difficult to analyze, it should be bar-type tail light design on the patent map; in addition, the new car also uses a hidden exhaust design. At present, there is no official picture information for the new Haval H6 model. The spy photos are also wrapped in heavy camouflage, and we can’t know more details.

    In terms of power, the new car is expected to be available in three power combination: fuel, HEV and PHEV. The fuel version is expected to be equipped with a third-generation 1.5T turbocharged four-cylinder engine, with a maximum power of 183 horsepower, a maximum torque of 235 Nm, and a maximum thermal efficiency of up to 38%, which meets China VI b emission standards. The transmission system is expected to match the 7-speed dual-clutch transmission.

    1...113114115...266Page 114 of 266

    Deliver the latest vehicle news from Chinese car industry.

    Company

    Headlines

    Volvo Revives XC70 Nameplate with All-New SMA Architecture

    0
    On May 7th, Volvo unveiled its all-new SMA architecture...

    BYD Breaks Ground on Cambodia Plant with 10,000-Unit Annual Capacity, Production Slated for Q4 This Year

    0
    Marked the groundbreaking ceremony for BYD's passenger vehicle plant...

    Baidu’s Apollo Auto Project Ends as Geely Takes the Reins at Jiyue

    0
    According to publicly available information, Zhejiang Jiyue Automotive Technology...

    Geely Unveils Rugged New “Boxy” SUV! Geely Galaxy Battleship Set to Launch in 2026

    0
    We learned from the Shanghai Auto Show that the...

    Newsletter

    Subscribe

    * indicates required

    Intuit Mailchimp