/Self-driving is a catch! Baidu and Tencent led NextEV’s USD 600 M financing

Self-driving is a catch! Baidu and Tencent led NextEV’s USD 600 M financing

Tech blog 36Kr released news that NextEV raised USD 600 million from investors led by Baidu and Tencent. A few days ago, NextEV released its self-driving car EVE in Shanghai.

NextEV is an electric car manufacturer based in Shanghai. NextEV’s electric car Nio EP9 which was unveiled last year proved to be the fastest electric car in the world. NextEV worked with Mobileye, Nvidia and NXP to make EVE better than a traditional car. Among its 2,000 employees are developers and engineers from high-tech companies such as Google and Apple. NextEV’s well-known investors include TencentBaidu, Lenovo, Temasek, Sequoia Capital, and JD.com founder Richard Liu. After this financing round, the valuation of NextEV amounts to USD 3 billion (RMB 20 billion).


Founded in: 2014

Founder: William Li

Financing status: Estimated USD 600 M financing in 2017

(Top photo from nio.com)

Kaikai Shi majored in Biotechnology at Zhejiang University. He now runs the Tech Financing column for AllChinaTech. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.