Exclusive: Faraday Future to get $310 million lifeline from Chinese state-owned enterprises
A cash injection into would-be EV maker Faraday Future is being made on behalf of the government of Zhuhai, a source tells TechNode.
Autonomous car startup Uisee raises $150 million from state-backed fund
Uisee is benefiting from investor interest in Chinese AV startups as the Covid-19 pandemic pushes unmanned transport applications.
Shares of Evergrande EV unit surge 50% after raising $3.4 billion
China Evergrande New Energy Vehicle Group closed the sale of 952 million shares to six investors for a total of $3.35 billion)
China-made Tesla Model 3 explodes in a Shanghai garage
A collision with a manhole cover could have caused significant damage to the vehicle and triggered the subsequent incident, Tesla said.