Nio

From China's attempts to end the property crisis, OpenAI dissolving its Superalignment team, China's Nio challenging Tesla with Onvo, and ByteDance seeking to expedite its TikTok lawsuit, here's a look at recent business developments around the world.

Rise of China’s EV makers threatens Western firms, UBS says

Led by BYD Co., Chinese carmakers will almost double their share of the auto market to 33% by the end of the decade, UBS analysts including Patrick Hummel and Paul Gong wrote in an Aug. 31 report.

Dead EV batteries turn to gold with US incentives

China handles virtually all EV battery recycling in a global market projected to grow from $11 billion in 2022 to $18 billion by 2028, according to research firm EMR.

China's Nio to get near $740 million investment from Abu Dhabi-backed firm

Under the deal with CYVN Holdings, Nio will issue about 85 million new Class A shares at $8.72 per share to the firm.

EV maker Nio plans new 40 GWh battery plant in China: Sources

The new plant will have an annual capacity to produce 40 gigawatt hours (GWh) of batteries, which can power about 400,000 units of long-range electric vehicles (EVs), the people said on condition of anonymity as the matter is private.

EV maker Nio to build 1,000 battery-swap stations in China in 2023

Nio will build 400 along highways and 600 in urban areas with a focus on third- and fourth-tier cities and counties, Li said in a post on Nio's social media platform.

In China, an electric-car maker loses money, but thinks big

Investors see promise in Nio, which has the advantage of being able to tap into China’s vast supply chain for electric vehicles

China electric car startup Nio raises over $1 billion from Tencent, others: Sources

New investors in the round include U.S. hedge fund Lone Pine Capital, Chinese investment firm CITIC Capital and Scottish fund manager Baillie Gifford, said one of the people.