Electric Vehicles

The cash-craving EV startup rebounded strongly from the pandemic’s impact, setting a monthly record for electric vehicles sold in May.

The company claimed it has seen a V-shape recovery after the lockdown.

China and India markets stalled by government policy U-turns.

The company plans to install at least 4,000 more chargers in China by the end of 2020.

Strong US and Asian investors’ demand for its first new share sale since listing in New York comes even as Nio says it will not pay dividends any time soon.

Existing investor Tencent will secure 2.8% of Nio’s ADS for about USD 10 million.

The startup, valued at USD 400 million last year, submitted the documents to the SEC in secret, according to sources.

Ehang is the world’s first autonomous aerial vehicle company approved to conduct commercial trials of passenger drones for transporting heavy cargo, it says.