Angling to be the Carfax for EV batteries, Persistent raises $3.5 million

Angling to be the Carfax for EV batteries, Persistent raises $3.5 million

The Seattle-based start-up Recurrent stated today it has closed on$ 3.5 million in financing as it looks to end up being the Carfax for electric lorry batteries. The battery system is probably the most vital part of any electric vehicle and as the marketplace for used electrical lorries broadens, independent verification on battery life and variety can […]…

China’s electric SUV maker Li Auto raises $1.1 billion in US IPO

Trade tensions in between China and the U.S. have actually not stopped Chinese companies from considering to list on American stock exchanges. Li Auto, a five-year-old Chinese electric lorry start-up, raised $1.1 billion through its launching on Nasdaq on Thursday. The Beijing-based company is targeting a growing Chinese middle class that aspires to drive cleaner, smarter and […] The six-year-old competitor stated last year it might consider an IPO. Li Car, for instance, counts China’s food shipment magnate Wang Xing, manager of Meituan Dianping, as its second-largest investor after its CEO Li Xiang. As my colleague Alex pointed out, Li Vehicle is on a trajectory comparable to that of its peer Nio, going public after a short history of delivering to consumers. Its annual earnings– comprised primarily of car sales and a small part from services like charging stalls– stood at 284 million yuan ($40.4 million) in 2019, a tiny portion of Nio’s$1.12 billion. Li Vehicle, a five-year-old Chinese electrical lorry start-up, raised $1.1 billion through its launching on Nasdaq on Thursday….