Tag: asia
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Elon Musk says The Boring Company will launch in China this month
Elon Musk Wishes to drill holes in China. Even the Tesla founder has tweeted to reveal that his tunnelling and transportation startup, The Boring Company, will be launching in China later this season. Musk is due to speak at an AI seminar, known as the World Artificial Intelligence Conference, taking place in Shanghai on August…
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Joy Capital closes $700M for early-stage investments in China
Joy Capital, the venture financing firm that’s backed Luckin, NIO, Mobike and other investor darlings at China, simply raised $700 million for a new fund focusing on early-to-growth stage startups. Launched in 2015 with a group of former investors in Legend Capital, the investment arm of PC manufacturer Lenovo’s parent company, Joy Capital made the…
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Tesla ‘on track’ to begin Model 3 production at China factory by end of year
Tesla stated Wednesday that Model 3 production is on track to start in its Shanghai factory by the end of the season — a critical milestone for the automaker if it hopes to continue to raise sales and avoid the high cost of transport and tariffs. The Gigfactory Shanghai “continues to take shape,” Tesla composed…
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Chinese electric carmaker Xpeng says Nio stock swings a ‘good lesson’ for rivals
Seeing your competitor undergo dramatic changes in fortune can be unnerving as there’s the fear that the same will happen to you. For electric vehicle maker Xpeng, Nio’s period of stock swings is a wakeup call for China’s EV startup boom. Xpeng and Nio are Tesla -like Chinese startups competing with more established automakers such…
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How China’s first autonomous driving unicorn Momenta hunts for data
Cao Xudong turned on the side of the street at panties and a black T-shirt printed with the term “Momenta,” the name of his startup. Before founding the firm — that last year topped $1 billion at valuation to become China’s first autonomous driving “unicorn” — he’d led an undercover life, but he was convinced…
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Tesla’s new China-made Model 3 opens for pre-order with a 13% price cut
Tesla’s big bet on China-based production is critical to a brand new effort to lure Chinese consumers with cheaper costs. Now the U.S. firm revealed that its incoming Model 3, which will be created in China, will market out of 328,000 RMB — which ’s around $47,500 plus some 13 percent more affordable than its…
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Review of Elon Musk’s DC-to-Baltimore ‘Loop’ system reveals safety concerns
The Boring Company’s Loop transit system that aims to shuttle people in autonomous electric vehicles between Baltimore and Washington, D.C. fails to fulfill several key national safety standards, a review of its proposal reveals. The system appears to lack emergency exits, ignore the most recent engineering practices and suggests passenger escape ladders that one fire…
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China’s Tesla wannabe Xpeng starts ride-hailing service
There’re a lot of synergies between electric vehicles and ride-hailing. Drivers have the ability to save more steering an EV compared to a gas vehicle. Conscious consumers will opt to hire an electric car. And EVs are designed with compatibility with driving, which is expected to hit on the road in the coming decades. Really,…
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Africa Roundup: Paga goes global and 4 startups raise $99M in VC
Jake Bright Contributor Jake Bright is a writer and Writer in New York City. He is co-author of The Next Africa. More articles by this contributor Polestar unveils first Manufacturing EV with aim to overtake Tesla Liquid Telecom goes on Africa’s startups as future clients Nigerian digital payments startup Paga is gearing up to get international growth…