The automaker attained a new landmark in September 2022 with its largest IPO in Europe regarding market valuation.
The automaker plans to ramp up battery production for all vehicles and utility-scale energy storage systems.
The push by iMotion to go public via an IPO is not the first for outfits operating within the same industry.
EV makers Lucid, Nikola, and Lordstown saw their stock decline mostly owing to disappointing failures regarding their production figures.
According to the Nio boss, 600 battery-swapping stations will be in urban locations, while the remaining 400 will be set up along highways.
The affected vehicles include certain Model S and Model X released in 2016-2023, as well as 2017–2023 Model 3 and 2020–2023 Model Y.
In January 2023, BYD sold 151,341 vehicles, including 71,338 pure electric vehicles. The company has been ranking first in the sales of pure electric vehicles in China for ten consecutive months.
Earlier this month, Ford reported mixed earnings results for Q4 2022, performing below analysts’ expectations.
Zeekr is making frantic efforts to gain a good market share in the Chinese ecosystem.
Without naming the investors, Canoo said it would sell 50 million new shares, together with warrants that allow the investors to have the option to buy up to an additional 50 million.
Nissan and Renault announced the total remake of the long-lasting relationship last month.
Tesla’s Chinese rival Xpeng announced the launch of its P7 sedan and G9 SUV in Europe following bleak China sales last year.
Those Rivian employees who have lost their job are entitled to 14 weeks of regular pay and health coverage, Rivian-paid COBRA benefits and continuation of mental health and fertility benefits through the end of the year, as well as job placement assistance and Q1 2023 equity vesting.
Ford has reduced its Mustang electric vehicle prices and is driving up production to match Tesla’s announced lead.
Renault and Nissan recently announced that the French automaker would transfer 28.4% of Nissan’s stake into a French trust.