We have been incurring loss since inception. We incurred operating cash outflow for the year ended December 31, 2024 and our current liabilities exceeded current assets as of December 31, 2024.
Based on our going concern and liquidity assessment, which considers our business plan including revenue growth, working capital management and the ability to raise funds from banks under available credit quotas when needed, we believe that our financial resources, including our available cash and cash equivalents, restricted cash and short-term investments, cash generated from operating activities and funds from availa-ble credit quotas will be sufficient to support our continuous operations in the ordinary course of business for the next twelve months. Read more…
Hyundai officially opens new production site in the US
The Hyundai Group is celebrating the official opening of Hyundai Motor Group Metaplant America (HMGMA) in the US state of Georgia. And the South Korean carmaker confirmed that it would extend the facility’s production capacities from 300,000 to 500,000 vehicles per year – not only purely electric ones, but also hybrids. Read more…
BYD Fang Cheng Bao to start pre-sales of Tai 3 SUV on Mar 31, shares more images
Fang Cheng Bao will start pre-sales of the Tai 3 on March 31, as BYD continues to push forward with intensive new product launches.
The Tai 3 will be Fang Cheng Bao’s first pure electric model and the brand’s third model.
Daimler Truck customers can offer chargers to third parties
Under its brand TruckCharge, Daimler Truck wants to make company-owned charging facilities available for public use. The offer is supposed to close the gap in charging infrastructure for electric trucks, making it Europe’s largest semi-public charging network for electric trucks. Read more…
Rivian spins out micromobility startup
US electric car maker Rivian has spun out a new startup called ‘Also,’ with 105 million dollars in funding from Eclipse Ventures. The new company will be independent of Rivian, though the two will work closely together. Read more…
The Audi A5 Plug-In Hybrid Has A Bigger Battery Than The Original Nissan Leaf
The electric motor is sandwiched between the gas engine and the transmission, so you get a seven-speed EV (sometimes). Read more…
Donald Trump imposes 25% tariffs on auto imports
As expected, US President Donald Trump announced new tariffs on imports for the automotive industry, which will be collected from Thursday. The new directive not only concerns vehicles manufactured abroad but also car parts and components, meaning that it will have a severe effect on the industry. Read more…
Machine learning slices powertrain development phase
Researchers at Graz University of Technology (TU Graz) have used machine learning to shorten the development phase of battery EV powertrains by several months, writes Nick Flaherty.
The 10-year Optimisation of Electric Drives (OPED) project combines simulation models of components with evolutionary optimisation algorithms, cutting development time to one day. Read more…
Li Auto open-sources its in-house developed car operating system Halo OS
The open-sourcing of Halo OS is expected to help the automotive industry save RMB 10 billion to 20 billion in research and development resources each year, said Li Auto CEO.
Li Auto expects Halo OS to be available in the open-source community starting at the end of April.
Xpeng P7+ deliveries exceed 40,000 units 4 months after launch
This means that the P7+ has delivered 7,153 units so far this month.
Xpeng’s other sedan, the Mona M03, is about to see cumulative deliveries exceed 100,000 units.
Xiaomi teases the 681hp dual-motor version of the upcoming YU7
Fresh from the successful launch of the SU7 sedan, Xiaomi is close to unveiling its next electric vehicle, the YU7 SUV. The latest images shared by CEO Lei Jun give us the clearest look yet at the new model, showing its design and key features. Visually, the YU7 maintains the same design language, featuring a front fascia almost identical to… Read more…
Chevy is the fastest-growing EV brand in the US right now
The fastest-growing EV brand in the US is not Tesla or Rivian. It’s GM’s Chevrolet. With the electric Equinox, Blazer, and Silverado rolling out, Chevy is now the fastest-growing EV brand in the US. Although Tesla still accounts for about 50% of EV retail share, new models are eating away at its lead. Read more…
Tesla starts production of cheaper new Model Y non-Launch Edition
Tesla has started production of the new Model Y non-Launch Edition, which is going to be cheaper without all the options bundled together. Read more…
Trump imposes tariffs on all car imports: here’s where all EVs available in the US come from
President Trump has announced that the US will impose tariffs on all cars and trucks imported into the country. Read more…
Nissan teases new Micra and Leaf plus flurry of new EVs ready for global markets
Nissan finally decided to commit fully to the EV transition with a major push toward electric cars and hybrid technology. The company has revealed its future plans and a lineup of new and updated vehicles designed to attract a very wide range of drivers. The Japanese automaker plans to introduce a slew of models over the next two years, and… Read more…
Rivian spinoff focuses on small EVs, “ways to move beyond cars”
Spinoff starts with $105 million VC investment, Rivian maintains “substantial minority stake” Products to be affordable, vastly more efficient than today’s cars or SUVs In-house-built for core components, may share sales space with Rivian Flagship product coming in early 2026 Do we really need a new generation of EVs that are bigger… Read more…
Flint Engineering launches new heat pipe technology
UK-based technology startup Flint Engineering has unveiled IsoMat, which aims to reinvent traditional heat pipe technology through a flat aluminum sheet design, featuring an internal network of sealed channels. When exposed to temperature differentials, the liquid within the channels undergoes a rapid cycle of evaporation and condensation, resulting in near-instantaneous heat transfer across the entire… Read more…
Flint Engineering launches new heat pipe technology
UK-based technology startup Flint Engineering has unveiled IsoMat, which aims to reinvent traditional heat pipe technology through a flat aluminum sheet design, featuring an internal network of sealed channels. When exposed to temperature differentials, the liquid within the channels undergoes a rapid cycle of evaporation and condensation, resulting in near-instantaneous heat transfer across the entire… Read more…
Hyundai’s Georgia EV Metaplant Will Be Bigger Than Expected
Hyundai’s brand new factory near Savannah makes the Ioniq 5 and Ioniq 9 EVs, and now it’s going to expand even further. Read more…
Trump Slaps 25% Tariffs On All Foreign Cars
Is your head spinning yet? The U.S. announced huge new tariffs on all imported vehicles. Read more…
