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Chinese electric vehicle (EV) manufacturer XPeng, backed by Alibaba Group Holding Ltd, said on Wednesday it has raised $400 million from investors including Xiaomi Corp to fund its growth. Sources familiar with the matter told Reuters earlier about the fundraising and about Xiaomi being an investor. The fundraising comes at what bankers and industry insiders describe as an increasingly tough financing environment for Chinese EV startups which must jostle for attention in a crowded sector and produce convincing arguments about future profitability despite government cuts to EV subsidies and plans to phase them out. XPeng, which announced the fundraising in a statement, did not comment on its valuation. But the sources said the latest fundraising valued the five-year-old firm, led by 42-year-old tech entrepreneur He Xiaopeng, at nearly $4 billion, higher than the 25 billion yuan ($3.57 billion) valuation in the last funding round. The dollar fundraising comes as Guangzhou-based XPeng, … [Read more...] about Alibaba-Backed EV Startup XPeng Raises $400 Million Funding

India Yamaha Motor has issued a voluntary recall for 13,348 units of Yamaha FZ 25 and Yamaha Fazer 25 motorcycles. The Japanese two-wheeler maker says that this is a precautionary recall to address an issue related to the head cover bolt loosening in 12,620 units of FZ 25 and 728 units of Fazer 25 motorcycles. The affected motorcycles were manufactured from June 2019 this year, they will be repaired free of cost at any of the Yamaha authorized dealers and the owners will be contacted individually. The Yamaha FZ 25 and Fazer 25 owners can also check whether their motorcycle is eligible for this recall or not bu visiting the company's official website. The two-wheeler maker has also said that it's working closely with the dealer partners to ensure the repair experience is as convenient and efficient as possible. Yamaha FZ25 1.47 Lakh * On Road Price (New Delhi) FIND OUT MORE This is not the first time that these two motorcycles have been recalled in India. Last year in January 2018, … [Read more...] about Over 13,000 Yamaha FZ 25 And Fazer 25 Recalled In India

India Yamaha Motor has announced that it will be recalling 23,897 units of its recently launched quarter-litre twins in the country. Both the Yamaha FZ 25 and Yamaha Fazer 25 have been recalled in order to rectify an issue related to head cover bolt loosening. The Japanese bike maker has said that the recall exercise commences with immediate effect and will cover the motorcycles that were manufactured from January 2017. This nearly includes all motorcycles that were sold since the launch of the FZ 25 in January last year. The recall covers 21,640 units of FZ 25 and 2257 units of Fazer 25. Also Read: Yamaha FZ 25 Review Yamaha FZ25 1.47 Lakh * On Road Price (New Delhi) FIND OUT MORE Yamaha has recalled the exercise a precautionary recall and did not report of any incidents due to the issue. Furthermore, the affected motorcycles will be repaired free of cost at any of the authorised dealers and the owners will be contacted individually. Yamaha is working closely with its dealers to … [Read more...] about Yamaha FZ 25 and Fazer 25 Recalled In India

Honda Motorcycle and Scooter India (HMSI) has launched the new Honda SP 125 motorcycle, priced at ₹ 72,900 (ex-showroom, Delhi) and the new motorcycle is compliant for the new Bharat Stage VI (BS-VI) emission regulations which will come into effect from April 1, 2020. The SP 125 is the second two-wheeler from HMSI to be BS6-compliant, after the launch of the new Honda Activa 125, and the first motorcycle. The new Honda SP 125 not only gets a new fuel-injected 124 cc engine but also gets a long list of new features to justify the 'new and improved' tag. Along with slightly bigger dimensions, the new SP 125 also makes marginally more power and the engine has been tweaked to make a better spread of torque across the powerband. According to Honda Motorcycle and Scooter India (HMSI), the new SP 125 is an advanced motorcycle in more ways than one, rather than just an updated fuel-injected engine which meets the upcoming BS-VI emission regulations. In fact, Honda has filed for 19 new … [Read more...] about Honda SP 125 BS6 Bike Launched; Priced At ₹ 72,900

Hyundai Motor India today officially commenced the road testing of its upcoming subcompact sedan, the Hyundai Aura. Expected to be the next-generation model of the Hyundai Xcent, the company today flagged-off the prototype model of the Aura sedan from its Chennai plant, which will be driven across India. Hyundai says that it will measure the car's strengths and capabilities with this endurance test, covering everything from the deserts to the Himalayas, and even the eastern coastlines, while taking on the persistent Indian weather and driving conditions. Also Read: Hyundai Xcent To Be Replaced By New Subcompact Sedan 'Aura' Hyundai Xcent 6.4 Lakh * On Road Price (New Delhi) FIND OUT MORE Now, prototype models of the upcoming Hyundai Aura have been spotted testing in India on several occasions before this, largely in and around Chennai. However, as Hyundai begins pan-India testing of the car, we expect a tonne of images to surface on the internet over the next couple of months before … [Read more...] about Hyundai Officially Starts Testing Aura Subcompact Sedan