NIO Capital Invested Into Newrizon Startup
Newrizon, a Chinese producer of intelligent connected commercial new energy vehicles, has closed their latest investment round with the help of Nio Capital, the venture arm of Chinese electric car upstart Nio. This backing has resulted in over USD14.6 million.
The Series B fundraiser will enable Newrizon to increase its efforts in research and development, mass production, and marketing of light trucks and vans.
Newrizon was established in September 2020 by Huang Chendong, an alumnus of SAIC Motor and Nio, who currently serves as its CEO. That same month, the startup raised a USD10 million Series A investment before collecting a further nearly USD50 million from varius firms such as China Creation Ventures, Lightspeed China Partners, Huolala and more.
Newrizon's first light truck, the EC1, achieved a success exceeding expectations. With a cruising range of over 230 kilometers, 1,000 units were sold in October 2021. Next year, attention will be turning to their second light truck, the IC1.
The New 2024 NIO EC6 Electric Crossover Coupe Refreshed
NIO EC6, the electric crossover coupe, received a fresh makeover for 2024. The updated design is cleaner and features advanced technology as compared to before.
The New NIO EC7 Flagship Coupe SUV Come With 572 Miles Of Ranges
The all-new EC7 comes with 644bhp, 627 lb-ft twin-motor, four-wheel drive powertrain, this enables the vehicle to complete a 0-62mph acceleration within 3.8 seconds.
$NIO Cuts Q4 2022 Delivery Expectations.
Chinese EV startup NIO as EV cut deliveries expectations for December 2022. So far NIO has done well to deliver over 91,000 EVs in 2022. The company has sold 41K ES6s, 29,900 ES8s, and almost 30K EC6s. To say this company is undervalued is an understatement.
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