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.
A group of South Korean insurers will invest 69 billion won ($60 million) in 29-year senior debt secured on Australia’s National Archives Preservation Facility in Canberra, attracted to its long maturity, as they are keen to extend asset durations ahead&hellip
The Construction Workers Mutual Aid Association (CWMAA) will acquire a language center building of the University of New South Wales (UNSW) in Sydney for A$71 million ($56 million), jointly with a South Korean insurance company. CWMAA, with $2.8 billion in&hellip
South Korean banks and institutional investors will provide $140 million in syndicated loans to a US gas-fired plant project in Pennsylvania, part of $460 million loans originated by BNP Paribas to build the power plant. Of the $140 million loans,&hellip