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Didi Chuxing sets up JV with China EV maker BAIC-BJEV; next-gen connected car systems; Transportation Brain

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Ltd (JingJu) aims to combine the two companies’ strengths in new energy fleet operation and AI transportation solutions to develop next-generation connected-car systems. DiDi started partnership programs with automakers and fleet operators in 2016, and launched the DiDi Auto Alliance, an industry-chain partnership network in April 2018.

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GM 5-year growth strategy for China; 10 New Energy Vehicles in the coming mix

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Working with its Chinese partner SAIC, GM will replace several current vehicles for growth markets based on multiple architectures with an even larger family of vehicles based on one core architecture. In addition to vehicles, GM is also addressing business opportunities in value-added services such as automotive financing and insurance.

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Volkswagen picks up pace of transformation with new ACCELERATE strategy

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In 2016, Volkswagen kicked off its far-reaching transformation and the industry’s biggest electric offensive with the TRANSFORM 2025+ strategy. To be able to finance the sizable future investments, the company will systematically work on increasing its efficiency with ACCELERATE. —Ralf Brandstätter, CEO of Volkswagen.

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A123 Systems and Wanxiang execute definitive agreements for investment of up to $465M in A123

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Pursuant to the terms of the definitive agreements, Wanxiang would provide A123 with up to $75 million in initial debt financing under a Senior Secured Bridge Facility. Further, Wanxiang has demonstrated its commitment to partnering with and investing in U.S. — David Vieau, CEO of A123.

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Volkswagen Group to spend >$40B over next 5 years to develop electric mobility, autonomous driving, new mobility services and digitalization

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In 2016, the corresponding capex ratio stood at 6.9%. These companies finance the investments in the Chinese plants and products from their own resources. According to the new planning round, each of the two ratios will decline to a competitive level of 6.0% from 2020 onward.

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A123 Systems in non-binding MoU with Wanxiang for strategic investment of up to $450M; Wanxiang would own up to 80% of A123 common stock

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The agreement would also include the potential for Wanxiang to invest up to an additional $175 million if it exercises the warrants that would be issued in connection with the Bridge Facility and the Convertible Notes for cash. —Weiding Lu, CEO of Wanxiang Group.

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