A group of startups backed by China money released a string of new models, posing challenge to Tesla. NIO, a startup headquartered in China's Shanghai gained attention by unveiling its self-driving electric concept car NIO Eve at the South by Southwest (SXSW) festival, held in Austin in Texas. NIO said the Eve would be marketed from 2020.
Padmasree Warrior, CEO of NIO U.S., said in her interview with Fortune, "The Eve would also be sold in Europe after making first entry into the United States." The NIO Eve features a sliding door and a fully foldable backseat. In the area of self-driving technology, NIO is set to cooperate with Mobileye, Nvidia, and NXP.
NIO rolled out a 1,342-horsepower supercar "EP9" last year. Without a driver in the seat, the EP9 ran the course of the Circuit of the Americas in Austin in 2 minutes and 40.33 seconds, the fastest among all self-driving cars.
South Korea’s top financial regulator will cut reserve requirements by half for insurance firms’ cross-border infrastructure assets from as early as June, paving the way for domestic insurers to boost overseas alternative investments. The Financial Supervisory Service (FSS) is working&hellip
The Government Employees Pension Service (GEPS) has awarded overseas private debt fund mandates for opportunistic strategies to Apollo Global Management and Cerberus Capital Management to invest up to $160 million, according to the South Korean pension fund on March 24.&hellip
HI Investment & Securities Co. Ltd., an affiliate of South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has established an offshore aircraft leasing company to buy two used Boeing 777-300ER aircraft from a Chinese leasing firm for $209 million, jointly&hellip