Topics

Posted 8/28/2023, 2:04:05 AM

China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744 mln

Chinese electric car company Xpeng will acquire Didi's smart electric vehicle unit in a strategic partnership, with Xpeng's shares surging 16%, and plans to launch a new A-class model under the brand MONA to expand in the mass-market segment.

reuters.com

Relevant topic timeline:

8/3/2023

Xpeng’s head of autonomous driving quits, rumored to join Nvidia

The main topic is the resignation of Xpeng's vice president of autonomous driving, Xinzhou Wu, and the impact it may have on the company's autonomous driving path. Key points include: - Wu played a pivotal role in helping Xpeng gain an edge over its EV rivals in the intelligent driving race. - Xpeng is recognized for its in-house, full-stack development team responsible for creating the advanced driver assistance system Xpeng Navigation Guided Pilot (XNPG). - Xpeng aims to reduce the number of manual takeovers per 1,000 kilometers when using its highway navigation to one or fewer by the end of 2023. - Tesla has not made its Full Self-Driving (FSD) system available in China yet. - Wu may be taking up a senior position in Nvidia's autonomous driving division. - Xpeng recently announced a promising investment from Volkswagen for co-developing electric vehicle models for the Chinese market. - Wu's resignation marks the end of an era at Xpeng and highlights the talent loss for the company. - The resignation comes amid escalating tensions between the US and China, leading to downsizing of Chinese tech giants' US operations.

8/28/2023

Stocks making the biggest moves premarket: 3M, CrowdStrike, Xpeng and more

Chinese electric vehicle company Xpeng's U.S.-traded shares rose 5% premarket after announcing its acquisition of Didi's smart electric car business for $744 million.

8/28/2023

XPeng Stock Surges on Plan to Buy DiDi’s Smart Vehicle Unit

XPeng stock surges as investors respond positively to the company's plan to acquire DiDi's smart vehicle unit.

9/1/2023

NIO, Li Auto, and XPeng Combined Deliveries Set a Record. That’s Good for Tesla and BYD.

Chinese electric-vehicle makers NIO, Li Auto, and XPeng have achieved record-breaking delivery numbers, a positive development for both Tesla and BYD, as well as for investors in the EV sector.

9/4/2023

Continental Taps Google’s AI Technology for Cars: Munich Update

Europe's automakers are showcasing their latest electric vehicles at the IAA Mobility car show in an attempt to compete with Tesla and counter the increasing competition from Chinese companies such as BYD and Xpeng.

9/4/2023

UPDATE 1-Xpeng says it plans to expand into more European markets next year

Chinese electric vehicle maker Xpeng plans to expand into more European markets, including Germany, Britain, and France in 2024, following its successful entry into the Netherlands and Norway.

9/7/2023

U.S. electric carmaker Lucid is exploring China entry; confirms mass market models ahead

Lucid is exploring the possibility of entering the Chinese electric car market, but has not yet set a timeline for its entry, according to a top executive at the company. Lucid recognizes China as the world's largest and fastest adopting EV market, but wants to ensure it enters on the right terms to avoid mistakes. The company is currently assessing the viability of entering the market and considering factors such as pricing and manufacturing strategy. Additionally, Lucid plans to expand its product range to include lower-priced vehicles, with a mid-sized car potentially being unveiled in 2026. However, entering the mass-market segment will take time and require a strong supply base and the right pricing.

9/8/2023

Chinese Electric Vehicle Makers Showcase New Models in Europe, Aiming to Expand Despite Geopolitical Tensions

Chinese electric vehicle (EV) makers are making rapid advances and gaining a competitive edge, with their cheaper EV models infiltrating global markets, including Europe, Australia, and Southeast Asia, leading to concerns that Chinese brands might dominate the global EV market in the future, according to industry experts and auto analysts.

9/18/2023

Singauto Launches Electric Refrigerated Trucks in China, Pre-Orders for 20,000 Units

Singapore-based startup Singauto Technology is set to enter the Chinese electric vehicle (EV) market with fully electric refrigerated trucks, which could become a lucrative niche as the cold-chain logistics market is currently dominated by internal combustion vehicles; the company has already received 20,000 pre-orders for its new truck model.

Topics

Posted 8/28/2023, 2:04:05 AM

China's Xpeng to acquire Didi's smart EV unit in deal worth up to $744 mln

reuters.com

Relevant topic timeline:

8/3/2023

Xpeng’s head of autonomous driving quits, rumored to join Nvidia

8/28/2023

Stocks making the biggest moves premarket: 3M, CrowdStrike, Xpeng and more

Chinese electric vehicle company Xpeng's U.S.-traded shares rose 5% premarket after announcing its acquisition of Didi's smart electric car business for $744 million.

8/28/2023

XPeng Stock Surges on Plan to Buy DiDi’s Smart Vehicle Unit

XPeng stock surges as investors respond positively to the company's plan to acquire DiDi's smart vehicle unit.

9/1/2023

NIO, Li Auto, and XPeng Combined Deliveries Set a Record. That’s Good for Tesla and BYD.

Chinese electric-vehicle makers NIO, Li Auto, and XPeng have achieved record-breaking delivery numbers, a positive development for both Tesla and BYD, as well as for investors in the EV sector.

9/4/2023

Continental Taps Google’s AI Technology for Cars: Munich Update

9/4/2023

UPDATE 1-Xpeng says it plans to expand into more European markets next year

Chinese electric vehicle maker Xpeng plans to expand into more European markets, including Germany, Britain, and France in 2024, following its successful entry into the Netherlands and Norway.

9/7/2023

U.S. electric carmaker Lucid is exploring China entry; confirms mass market models ahead

9/8/2023

Chinese Electric Vehicle Makers Showcase New Models in Europe, Aiming to Expand Despite Geopolitical Tensions

9/18/2023

Singauto Launches Electric Refrigerated Trucks in China, Pre-Orders for 20,000 Units