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Stellantis & Leapmotor joint venture gets approval from Chinese regulator

Teslarati

It acquired 20% of the Chinese automakers, making it a significant shareholder. The Chinese automaker also said that the executive team for its joint venture with Stellantis is in place as C10. In November, Stellantis repurchased €934 million shares from Chinese automaker Dongfeng based on a pre-existing share repurchase framework.

Chinese 122
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Stellantis CEO on the threat of Chinese EV plants in Italy

Teslarati

Stellantis NV CEO Carlos Tavares clarified the company’s position on Chinese electric vehicle brands coming to Italy. The Stellantis CEO also talked about Italian politicians and their discussions with Chinese automakers. Stellantis isn’t the only automaker prepared to fight Chinese companies coming to Europe.

Italy 111
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Chinese EV company Xpeng Motors raises US$400M in Series C; Xiaomi strategic investor

Green Car Congress

China-based Xpeng Motors has closed a US$400-million Series C capital funding from a group of strategic and institutional investors. Xiaomi Corporation, a global leader in the technology and consumer electronics sector, is joining as a strategic investor. — Lei Jun, CEO of Xiaomi Corporation.

Chinese 199
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Daimler takes 12% stake in Chinese parter BAIC Motor; first non-Chinese automotive company to acquire an interest in a Chinese OEM

Green Car Congress

Daimler AG is taking a major step forward in its China strategy with the closing of the company’s 12% investment in long-standing partner BAIC Motor, the passenger car unit of Beijing Automotive Group (BAIC Group), one of the top automotive companies in China. MBLC); Daimler Northeast Asia Parts Trading & Services Co.

Chinese 259
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Toyota and Beijing SinoHytec form JV to produce and sell FCRD fuel cell systems for commercial vehicles

Green Car Congress

Toyota Motor Company and Beijing SinoHytec have established a joint venture company to promote the commercial vehicle fuel cell system industry in China. Last year, Toyota Motor and five Chinese OEMs—China FAW Corporation Limited (FAW); Dongfeng Motor Corporation (DFM); Guangzhou Automobile Group Co.,

Toyota 396
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Hyundai Motor Group opens CRADLE Beijing

Green Car Congress

Hyundai Motor Group (HMG) has completed its creation of a global innovation network with the establishment of Hyundai CRADLE Beijing. China is the world’s largest automotive market and has one of the largest start-up cultures globally, making it an ideal location for Hyundai Motor Group’s fifth CRADLE office.

Hyundai 207
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BYD, Toyota jointly to develop battery electric vehicles for Chinese market

Green Car Congress

and Toyota Motor Corporation have signed an agreement for the joint development of battery electric vehicles (BEVs). Core parts for electrified vehicles such as batteries, motors and power electronics are among the products that BYD develops in-house. BYD Company Ltd.

BYD 186