Jun 11, 2018

Chinese electric vehicle startup raises $500 million

A Byton EV model on display at Auto China 2018. Photo: VCG via Getty Images

China-based electric vehicle startup Byton announced that it has closed a $500 million fundraising round and that investors include the major Chinese battery maker Contemporary Amperex Technology (CATL).

What's happening: Byton introduced an electric SUV concept early this year and plans to begin mass production in 2019. The company is also planning other vehicles.

One reason it matters: Per Bloomberg, CATL also does business with automotive heavyweights including Nissan and BMW, and last year became the world's largest EV battery supplier.

  • Speaking of EV batteries: Via The Wall Street Journal on Monday, "The speculative fever for electric-car metals is pushing to nearly four-year highs prices for nickel — a key ingredient in stainless steel."

Go deeper: Reuters has more here, including news on CATL's soaring share price on its first day of trading on China's Shenzhen exchange

Go deeper

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 5,490,954 — Total deaths: 345,962 — Total recoveries — 2,228,915Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 1,662,250 — Total deaths: 98,218 — Total recoveries: 379,157 — Total tested: 14,604,942Map.
  3. World: Italy reports lowest number of new cases since February — Ireland reports no new coronavirus deaths on Monday for the first time since March 21 — WHO suspends trial of hydroxychloroquine over safety concerns.
  4. 2020: Trump threatens to move Republican convention from North Carolina — Joe Biden makes first public appearance in two months.
  5. Public health: Officials are urging Americans to wear masks over Memorial Day.
  6. Economy: New York stock exchange to reopen its floor on Tuesday — White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election — Charities refocus their efforts to fill gaps left by government.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 28 mins ago - Politics & Policy

In photos: Authorities issue warning as Americans venture out for Memorial Day weekend

Ocean City in New Jersey on May 25. Photo: Donald Kravitz/Getty Images

Authorities urged Americans to maintain social distancing and wear masks to protect against the spread of the novel coronavirus amid reports of packed beaches and bars during the Memorial Day weekend.

Details: Law enforcement stepped up beach patrols, and there were crowded scenes in several places, notably at Lake of the Ozarks bars in Missouri and at Daytona Beach and on the Gulf Coast in Florida, per AP. Police dispersed crowds in some places, ABC notes. But many Americans did take precautions against COVID-19 as they ventured outside for the long weekend, some three months after the pandemic began in the U.S.

Coronavirus stay-at-home orders crater voter registration efforts

A volunteer looks for persons wanting to register to vote on July 4, 2019 in Santa Fe, N.M. Photo: Robert Alexander/Getty Images

The coronavirus pandemic is scuppering usual "get out the vote" efforts, leading to fears that large swaths of Americans could miss out on this year's elections.

What’s happening: Advocacy groups typically target college campuses, churches, festivals, fairs and other gatherings to seek out people who have yet to register, but many of those places are now closed. Voter registration efforts have largely moved to the internet, but advocates question whether that will be as effective as the person-to-person pitch.