BYD charging ahead with capacity investments at home and abroad

BYD charging ahead with capacity investments at home and abroad
Sep 26, 2018
BYD has announced ambitious plans to extend its battery manufacturing capacity by a further 30 Gwh with a new facility in Xi’an, Shanxi Province. The investment is likely to cost around USD 1.74bn. This comes on the back of an announcement in August that the company will invest in a 20 Gwh factory in Chongqing City at a cost of USD 1.4bn.

The company has also announced it will be making a further investments in the US, albeit on a more modest scale, spending USD5m on a warehousing facility to assist with the manufacture of its electric buses.

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Future looking clearer for Lucid

Future looking clearer for Lucid
Sep 18, 2018
US Electric Vehicle hopeful Lucid Motors received a major boost to its prospects with the announcement from the Saudi Public Investment Fund (PIF) that it will provide USD 1bn in financing to the company.

Lucid is aiming to begin production of its first car the high-end Sedan, the Air, in 2019, ahead of the vehicle being launched in 2020. Targeted output for 2019 is around 10,000 units, which will then be ramped up to a total capacity of 50,000 units per annum.

Lucid has yet to build its planned facility in Arizona, which is expected to cost USD 700m.

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Nio IPO raises USD 1bn, but it’s not enough

Nio IPO raises USD 1bn, but it’s not enough

Sep 12, 2018

The first Chinese EV start-up to attempt public listing on the New York Stock Exchange has failed in its bid to raise USD1.8bn, raising USD1bn. This will likely slow down its expansion plans including the development of its next vehicle, reducing research and development spend and a scheme to offer to swap batteries for its vehicles while on the road. It also raises questions over the 300 or so EV startups in the country most of whom are loss making, and indeed the model for raising finance for projects that have high capital requirements in the early stages and a long wait for future cash flow.

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