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Archive for the ‘Nio’ Category

Tesla Updating Software After Latest Battery Fire

Two recent incidents raise new concerns about EV safety.

by on May.16, 2019

A security camera caught images of a Tesla spontaneously catching fire in a Hong Kong garage.

Responding to the latest in a series of fires involving its electric vehicles’ battery packs, Tesla will updated its digital control software.

The move comes in the wake of a pair of fires in China, a critical market for the manufacturer, both involving parked vehicles. Since the original Tesla Model S was introduced, the company’s products have been involved in more than a dozen vehicle fires.

Electrifying News!

“As we continue our investigation of the root cause, out of an abundance of caution, we are revising charge and thermal management settings on Model S and Model X vehicles via an over-the-air software update that will begin rolling out today, to help further protect the battery and improve battery longevity.” Tesla said in a statement released on Wednesday.

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China Car Sales Tumble for 10th Consecutive Month

Downturn comes as US trade war escalates, domestic economy slips.

by on May.13, 2019

Klaus Bischoff, VW design chief, shows off the SMV Concept at Auto Shanghai last month.

For much of the past two decades, China’s new vehicle market was the envy of the world, with routine double-digit annual growth approaching triple-digit gains on several occasions – but the numbers were down 14.6% in April, marking the 10th consecutive monthly decline.

At 1.98 million vehicles, China remains solidly in the lead as the world’s largest automotive market, but the downturn raises troubling issues for both foreign and domestically owned brands, such as General Motors, Volkswagen, Toyota, Geely and Great Wall, impacting industry earnings around the globe.

Global News!

With China locked in an escalating trade war with the United States and the country’s overall economy showing signs of weakness, industry analysts question how soon the car market will show a recovery. The downturn could force automakers to look for ways to export products from increasingly underutilized Chinese plants, according to observers.

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Topping 1,000: An Ultra-Exclusive Club Continues to Expand

This year’s Geneva Motor Show brought an array of new entries.

by on Mar.11, 2019

The Pininfarina is one of an assortment of 1,000+ hp models that debuted in Geneva.

This month’s Geneva Motor Show brought the debut of dozens of new models, from little city cars all the way up to mega-million dollar exotics. It also brought several new entries into one of the automotive industry’s most exotic clubs: vehicles topping 1,000 horsepower.

It’s been 14 years since the original Bugatti Veyron 16.4 captured a spot in the Guinness World Records by becoming the first model to deliver four-figure power. With the debut of models like the Aston Martin AM-RB 003, Hispano Suiza Carmen, Koenigsegg Jesko and Pinfarina Battista in Geneva last week the number of models topping the 1,000 hp mark is now over a dozen, with several other models reportedly in the works.

Performance News!

As you’d expect, the price tag for these products is equally astronomical. A special one-off version of the Bugatti Chiron last week was announced at $19 million. But, if you have the cash and access to a long stretch of pavement, here’s what you might want to check out:

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Chinese EV Maker Niro Charged Up for Battery Swapping

Swapping dead for new is faster than recharging.

by on Mar.05, 2019

Chinese EV Maker Nio is swapping batteries instead of plugging them in to "recharge" them.

While most EV makers and battery producers scramble to find a way to reduce battery charging times, Nio – known as China’s Tesla – is taking a different approach by swapping batteries as a way of recharging in the same amount of time it takes to refill a gas tank.

Owners of Nio’s ES6 and ES8 sport-utility vehicles can already access the entirely automated battery swap service it calls “Power Swap. It’s already available in nine cities in China and it’s expected to grow to at least 40 by the end of this year.

News You Can Trust!

Basically, the driver enters a swap station and waits while an autonomous robot removes a vehicle’s drained battery and replaces it with a fully charged one. (more…)

Chinese EV Maker Nio Eyes $1.8B IPO on NYSE

EV maker joins other Chinese automakers on exchange.

by on Aug.16, 2018

Chinese EV maker Nio is preparing its $1.8 billion IPO for the New York Stock Exchange.

A Chinese electric vehicle start-up, Nio, which is backed by one of China’s largest technology companies, is preparing for a $1.8 billion initial public offering of its American depositary.

It represents the biggest U.S. listing by a Chinese automaker, according to reports from China.

We Keep You Plugged In!

Nio is backed by Tencent Holdings Ltd, a company with holdings the internet, technology and gaming as well as other ventures, including the emerging automotive-oriented mobility industry, has is seeking a float of up to $1.8 billion, according to its filing with the Securities and Exchange Commission. It will go public on the New York Stock Exchange under the symbol “NIO.”  (more…)

Chinese Automaker Nio Aims for $2b U.S. IPO

Move underscores China’s aggressive aims for American auto market.

by on Mar.01, 2018

Nio is selling its ES8 battery-electric SUV in China. Will it be the company's entry vehicle for the U.S.?

It has yet to sell a single car in the United States, but that hasn’t stopped Chinese electric vehicle startup Nio from putting together a consortium of American banks charged with setting up a U.S. IPO that could raise as much as $2 billion in capital.

While that’s a fraction of the $25 billion stock offering floated in 2014 by China’s massive e-commerce service, Alibaba Group Holding Ltd., it underscores the ambitious goals of Chinese automakers aiming to crack into the world’s second-largest automotive market.

Global News!

So far, only a handful of Chinese-made vehicles have come into the U.S. and, like the Buick Envision, they’re offered by Western brands such as Buick and Volvo. But a number of domestic Chinese manufacturers are hoping to crack the code over the next few years, including GAC which showed off a variety of models at the North American International Auto Show in January. (more…)