Jiuzi Holdings Inc (NASDAQ: JZXN) said its subsidiary Jiuyao has entered into a purchase agreement with Chongqing Dongfeng Fengguang Automobiles Sales Co Ltd, a subsidiary of Dongfeng Sokon Motor Co Ltd (DFSK Motor).
Under the agreement, by the end of 2022, DFSK Motor will deliver 5,000 micro-electric passenger cars customized for Jiuyao based on its best-selling model Dongfeng Mini EV Candy.
The customized version will be upscaled with features including wheel hubs, leather car seats, a smart remote-control function, and an extended battery range of up to 220 kilometers.
Jiuyao Mini EV is designed for JZXN's Capital Partners (CP) clients who own, manage, and trade ride-hailing vehicle assets.
The company has received preorders from seven CP clients by far.
"Supported by JZXN's capital strength and professional operation, we plan to work with other EV manufacturers to launch more customized SUV and MPV models in order to meet our CP clients' diversified requirements," said CEO Shuibo Zhang.
Price Action: JZXN shares are trading higher by 3.70% at $0.6637 on the last check Friday.
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Ford Motor Co Chief Executive Jim Farley will go to Las Vegas next week to roll the dice on a strategy to convince dealers to cut as much as $2,000 from the cost of delivering an electric vehicle to a customer. Ford has told dealers that one key topic for the meetings will be a discussion of new agreements that would govern how dealers sell Ford's expanding lineup of electric vehicles. Farley told analysts in July that Ford needs to cut $2,000 a vehicle out of selling and distribution costs to be competitive with Tesla Inc and other electric vehicle startups that sell directly to consumers without franchised dealers.
Even though battery costs are rising, auto companies are rolling out more affordable electric vehicles that should widen their appeal to a larger group of buyers.
Rivian Automotive (NASDAQ: RIVN) was frequently compared to Tesla (NASDAQ: TSLA) when it went public last November. The market's enthusiasm for Rivian waned as it struggled with production delays, supply chain disruptions, and widening losses. Tesla also struggled to ramp up its production for years before it achieved mainstream success.
A typical internal combustion engine has around 200 parts that need to be maintained and possibly replaced if they wear out. An electric vehicle takes that number down to around 20. Add to that the fact EVs do not directly emit carbon emissions and generally respond faster and better than traditional gas-powered vehicles, and California's recent controversial decision to get internal combustion engine-powered vehicles off the road in 13 years doesn't seem so crazy.
(Bloomberg) -- Rivian just added almost $3 billion to its market capitalization in a day, and all it took was a fairly bare-bones deal with a new frenemy.The upstart and Mercedes-Benz will join forces to build big electric vans in Europe “in a few years,” the two revealed Thursday, sending Rivian shares soaring 11%, their biggest jump in four months. Thin as the announcement was on detail, it sent an obvious signal. Yes, this young plug-in pickup maker is having trouble ramping up production, bu
EV stocks have multiplied in Tesla’s wake and as electric cars look to go mainstream. Here are the top-rated electric-vehicle makers.
All-electric, off-road powersports company Volcon Inc (NASDAQ: VLCN) said it has officially entered the e-bike market with the launch of its class 2 e-bike, the Volcon Brat. Built like a motorcycle, Brat integrates Volcon's design elements, using the exo-arch frame that mirrors the same design of Grunt and Stag. Brat has been built with four ride modes to accommodate off-road adventures to maneuver through urban traffic. Brat is powered by a 48V battery that can be fully charged in 6-7 hours thr
General Motors Co (NYSE: GM) shared plans to release an electric Chevrolet SUV priced around $30,000 to tap the cost-conscious buyers, the Wall Street Journal reports. The move comes as prices soared on other EV models. The surging lithium and nickel prices forced the automakers to bump the EV prices. Peer Tesla Inc (NASDAQ: TSLA) explored setting up a lithium refinery on the gulf coast of Texas to secure its supply amid surging demand for EVs, Reuter reports. GM's electric Chevy Equinox will go
Mother-of-five Nargis Begum suffered fatal injuries after getting out of a car that had broken down.
The SUV, slated to arrive in fall 2023, would be among the least-expensive electric vehicles in the U.S.
Future automobiles will shift from engines and gasoline to electric motors and battery packs
U.S. National Highway Traffic Safety Administration issued recalls for the week of September 1 through 8, including vehicles from Ford, Jeep, Audi.
SHANGHAI (Reuters) -Tesla sold 76,965 Chinese-made vehicles in August, nearly triple its sales from a month ago, as it quickened deliveries after ramping up output at its Shanghai plant. The U.S. carmaker exported 42,463 Model 3s and Model Ys from China last month, the China Passenger Car Association (CPCA) said. After a scheduled upgrade disrupted most production in July, Tesla ramped up output at the Shanghai plant in August, defying heatwaves and COVID curbs that hit its suppliers in the southwest region.
GM's latest bid to ramp up U.S. EV sales and surpass rival Tesla is a $30,000 all-electric SUV aimed squarely at the mass market. The 2024 Chevrolet Equinox EV, which will come in LT and RS models and has an estimated range of 300 miles, will test GM's ability to make an affordable EV that appeals to a broad swath of U.S. consumers. The 2024 Chevrolet Equinox EV is scheduled to go on sale next year.
Tesla said Thursday it is turning to the public to help determine where to locate its next Superchargers as the automaker continues to expand its network of EV fast-charging stations in North America, Europe and Asia. The online poll comes as Tesla prepares to open up its Supercharger network to other electric vehicles by the end of the year. The rollout could help Tesla attract new buyers while boosting traffic and profits across the Supercharger network.
Jeep revealed Wednesday the first steps in a plan to reshape its portfolio, starting with the launch of two EVs in North America by 2025 and one in Europe next year. The Jeep Recon and Wagoneer S will be the first fully electric Jeeps for the U.S. market when they enter production in 2024. The 80-year-old rugged Detroit brand, which aims to become the global leader in electrified SUVs, plans for EVs to compose half of its sales in North America -- and all of its sales in Europe -- by 2030.
Razor, the scooter company that probably brings back memories of kicking and coasting down the block to your friend's house for a playdate, is expanding its line of adult electric scooters. The company launched Thursday a new seated electric scooter that is designed to carry cargo, or if you like, another passenger on the back. The EcoSmart Cargo is Razor's latest attempt to tap the growing adult e-scooter market.
The carrier's United Airlines Ventures arm just plowed millions into Eve Air Mobility after investing in Archer Aviation in August.
The airline said it has struck a conditional agreement to buy 200 of the four-passenger electric aircraft Eve is developing, with options to buy another 200. United said it expects the first deliveries of Eve’s aircraft as soon as 2026. United, which last month put down a $10 million deposit for 100 electric flying taxis being developed by Archer Aviation said it would need hundreds of the aircraft to serve what it expects to be a booming market in the coming years.
FEATURE Rivian Automotive and Mercedes-Benz will partner to build all-electric commercial vehicles. Investors didn’t expect this bit of good news. Mercedes (ticker: MGB.Germany) and Rivian (RIVN) signed a memorandum of understanding for a partnership that will produce commercial electric vehicles for both companies.