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Failed billionaire Jia Yueting’s electric car dream rekindled as Geely and other investors come to the rescue of Faraday Future
Some 30 institutional investors from China, US and Europe are investing US$1 billion in Faraday Future founded by failed Chinese tycoon Jia YuetingFaraday Future and Property Solutions Acquisition Corp, a special purpose acquisition company, will merge and fund the production of the FF91 electric car
PIECES of an electric car hang from the ceiling of the Chinese real-estate developer’s showroom, evoking an edgy installation at a modern art museum. In reality, they’re a symbol of the nation’s industrial ambitions.
Chinese smartphone maker Coolpad Group said its unit has sued three group firms of Xiaomi, which last week filed for a Hong Kong IPO that could be worth up to $10 billion, for patent infringement.
HONG KONG: Sunac China described as "a failure" its investment in debt-laden Leshi Internet Information & Technology Corp Beijing and said it would book a charge of $2.6 billion, sending shares of the tech firm down as much as 8 percent.
HONG KONG: Chinese video-streaming firm Leshi Internet Information & Technology said it expects a net loss of 11.6 billion yuan ($1.83 billion) for 2017, citing a cash crunch at embattled technology conglomerate LeEco that hurt its revenues.
Meituan is the kind of Chinese technology company few people outside the country understand.
BEIJING: Chinese Internet entrepreneur Jia Yueting (pic) has defied orders from regulators to return home and help a listed technology company he founded resolve crushing debt, saying he needed to stay in the US to work on his electric car startup.
Chinese Internet entrepreneur Jia Yueting has defied orders from regulators to return home and help a listed technology company he founded resolve crushing debt, saying he needed to stay in the US to work on his electric car startup.
Teng Hongfei, sales chief of Huawei’s consumer business in China, taken into custody by public security agents