Author: Andrew Wang

Mirattery, the battery asset management company linked to Nio Inc., said it has completed the C3 tranche of its Series C financing, raising about 1 billion yuan ($145 million) and bringing total funding in the round to nearly 2 billion yuan. The latest investment introduces two state-owned enterprise shareholders from Hefei — Hefei Construction Investment Holding and Hefei Economic and Technological Development Zone (HETDZ) Investment Promotion — reinforcing the city’s ongoing support for Nio’s ecosystem. Hefei hosts multiple Nio manufacturing facilities and previously provided financial backing to the automaker during a liquidity crisis in 2019. See also: Mirattery Completes RMB…

Xiaomi’s electric vehicle division has delivered its 600,000th car, the company said on Friday, underscoring the rapid expansion of the consumer electronics maker’s automotive business less than two years after its market debut. The milestone comes about 22 months after Xiaomi began customer deliveries on April 3, 2024. The company announced the achievement on its official Weibo account, marking a significant benchmark for one of China’s newest entrants to the competitive EV sector. See also: Xiaomi Files Updated SU7 Electric Sedan Ahead of April Launch in China Xiaomi first revealed plans to enter vehicle manufacturing in March 2021 and launched…

China’s new energy vehicle (NEV) market recorded a sharp decline in January, with domestic registrations falling 19% year-on-year to 643,000 units, as seasonal weakness and revised subsidy policies weighed on demand. According to the China Association of Automobile Manufacturers (CAAM), total wholesale NEV sales — which include vehicles produced in China for both domestic use and export — reached 945,000 units in January 2026. That figure was broadly stable compared with 944,000 units a year earlier, representing a marginal increase of 0.1%. However, sales were down 44.7% from December 2025, when more than 1.7 million NEVs were sold. See also:…

Mirattery, the battery asset operator of Nio Inc, has completed a RMB 501 million ($72.5 million) Real Estate Investment Trust (REIT) issuance as part of its ongoing asset securitization efforts. The issuance, which closed on Wednesday, is backed by power batteries provided to vehicle owners under a leasing model. The company said the transaction represents the world’s first held-for-investment power battery REIT, structured as a held-type asset-backed security (ABS), marking a new step in securitizing battery assets tied to electric vehicle operations. See also: Nio Targets Profitability in Power Business After 100 Million Battery Swaps Held-for-investment REITs are typically designed…

Xiaomi has halted production of the first-generation SU7 electric sedan as it prepares to introduce an updated version in April, the company said. The final first-generation SU7 has rolled off the production line and is being delivered to its owner, founder and Chief Executive Lei Jun said during a live video broadcast on Tuesday. See also: Xiaomi Says It Has No Plans to Enter U.S. EV Market After YU7 Sighting “This marks the official end of production for the first-generation Xiaomi SU7,” Lei said, adding that cumulative deliveries for the sedan were approaching 370,000 units. He later clarified on Weibo…

Xpeng has released new interior images of its upcoming GX flagship SUV, offering a first detailed look at the cabin design as the model moves closer to market launch in China. The GX features an all-new, minimalist dashboard layout with no physical buttons, centered around a large central touchscreen, a dedicated driver display and an augmented-reality head-up display. Interior images show an oval-shaped steering wheel with a large diameter, dual wireless charging pads and two cup holders in the front row. Rear passengers are shown with a pop-down entertainment screen, tray tables, a panoramic sunroof and a spacious cabin layout.…

hina’s electric vehicle maker Nio has set profitability in its power and energy services business as its next major objective, following the completion of its 100 millionth battery swap service, founder and CEO William Li said in an open letter to users. The milestone was reached on February 6, around 2,800 days after Nio launched its first battery swap station, marking what the company described as large-scale market validation of its battery swap model. Daily swap volumes have now exceeded 100,000, underscoring the system’s growing role in Nio’s broader vehicle ecosystem. See also: Nio Tests Vehicle-to-Grid Power Supply Using Battery…

Nio said it has completed a cumulative total of 100 million battery swap services, marking a major milestone for the energy replenishment model that has become a defining feature of the company’s electric vehicle strategy. The 100 millionth battery swap was completed at 22:33:18 Beijing time on Feb. 6, the company said, with founder, chairman and chief executive William Li joining employees to mark the achievement. To commemorate the milestone, Nio added special animated effects to its in-car charging map, the company said. See also: Nio Forecasts First Quarterly Profit in Late 2025 on Sales Growth and Cost Cuts Nio…

CATL said on Thursday it has begun deploying sodium-ion batteries in production-ready passenger vehicles, marking a milestone as the world’s largest battery maker seeks to establish an early lead in an alternative to lithium-ion technology. The company unveiled a sodium-ion battery–powered vehicle jointly with Changan Automobile in Yakshi, Hulunbuir, in China’s Inner Mongolia region, with market launch targeted for mid-2026. CATL said the model represents the world’s first mass-produced passenger vehicle equipped with sodium-ion batteries. See also: CATL, BYD Retain Over 55% Share of Global EV Battery Market in 2025 – SNE Research While several Chinese automakers announced plans for…

BYD has previewed the Song Ultra EV, which is set to become the newest addition to its best-selling Song series, as the Chinese automaker continues to expand its battery-electric SUV portfolio. Lu Tian, head of sales for BYD’s Dynasty lineup, shared the first official image of the Song Ultra EV on social media platform Weibo on Wednesday, describing it as the brand’s first B-class pure electric SUV. No further technical or commercial details were disclosed at the time. See also: BYD Launches Linghui Sub-Brand Targeting Ride-Hailing and Corporate Fleets The Song Ultra EV has already appeared in a regulatory filing…

China will require all electric vehicles sold domestically to be equipped with mechanical door handles on both the inside and outside, effectively phasing out fully electronic door-opening systems that have become common on modern EVs. The regulation will take effect on January 1, 2027, with a transition period allowing already approved models to comply by January 1, 2029. The change follows a multi-agency safety review triggered by a series of fatal crashes in which electronic door systems were suspected of failing after power loss, complicating escape and rescue efforts. Flush, motorised door handles—first popularised by Tesla and later adopted across…

Chinese electric vehicle maker Avatr Technology, backed by Changan Automobile, CATL, and Huawei, has previewed a new model designed to enter a new vehicle category for the brand. The model, named the Avatr 06T, is part of the Huawei Qiankun–Avatr strategic partnership 2.0, the company said on Tuesday. Qiankun is Huawei’s smart car solution brand launched in April 2024, focusing on intelligent driving systems and smart cockpit technologies. See also: Avatr Releases Official Images of Updated Avatr 12, Adds Tri-Motor AWD Option Avatr said the 06T will be among the first vehicles to feature Huawei’s next-generation LiDAR hardware, though it…