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China's Geely to help bankroll Faraday Future SPAC deal: sources


3 Min Read
(Reuters) - Chinese automaker Geely will be an anchor investor in a plan by U.S. electric vehicle firm Faraday Future to go public through a merger with a blank-check acquisition company, two people familiar with the matter said.
FILE PHOTO: A building of the Geely Auto Research Institute is seen in Ningbo, Zhejiang province, China August 4, 2017. REUTERS/Aly Song
The deal, which may be announced as early as Friday in the United States, will value Faraday at around $2.7 billion, the people said.
Significant Chinese involvement could be an early policy test for U.S. President Joe Biden’s new administration, given escalating concerns in Washington over the national security implications of China’s technological ascendance. ....

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Exclusive: Baidu plans smart EV company, to make cars at Geely plant - sources


3 Min Read
FILE PHOTO: A logo of Baidu is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song
BEIJING (Reuters) - China’s Baidu Inc plans to form a company to make smart electric vehicles (EV), two sources familiar with the matter said, with manufacturing to be carried out at plants owned by automaker Geely.
Baidu, the leading search engine company in China, will take a majority stake and absolute voting power in the new company.
The venture will revamp some of Geely’s existing car manufacturing facilities to make the vehicles, with in-car software input from Baidu and engineering know-how from Geely, sources told Reuters. ....

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REV - The Global Auto and Mobility Show | REV | DW


REV
REV - The Global Auto and Mobility Show
Polestar makes you want to drive electric cars. An electric unicycle turns mobility into an experience. Artists are working on the sound of tomorrow s cars. And REV shows how musical a Tesla already is today.
Watch video
26:06 ....

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