The Chinese Love A Black Audi A6

{At the|On the} Shanghai auto {show|present} {last|final} month the world's {car|automobile|automotive} manufacturers {were|had been|have been} at hand to showcase their {latest|newest} {innovations|improvements}. Audi was {also|additionally} there {to help|to assist} promote {more|extra} of its {models|fashions} to the Chinese, {at the moment|for the time being|in the intervening time|in the mean time|in the meanwhile} half of all Audi A6 {models|fashions} produced are {sold|bought|offered} in China. The German {firm|agency} is {trying|attempting|making an attempt} {to promote|to advertise} {cars|automobiles|vehicles} like its new Q3 compact {sports|sports activities} utility {vehicle|automobile|car} and the Audi A3 in Southampton. {According to|Based on|In accordance with|In keeping with|In line with|In response to} {research|analysis} {firm|agency} Dunne & Co. {The majority of|Nearly all of|The vast majority of} if not {all of the|all the|the entire} A6's {sold|bought|offered} in China {were|had been|have been} black {versions|variations} with {windows|home windows} tinted darker than welding glass. The A6 has {become|change into|develop into|grow to be|turn into|turn out to be} the {car|automobile|automotive} of {choice|alternative|selection} for {government|authorities} officials and {company|firm} bosses. The Audi A6's {status|standing} is such that in Beijing, the {importance|significance} of {government|authorities} {meetings|conferences} can {sometimes|generally|typically} be gauged by counting {how many|what number of} A6s are parked {outside|exterior|outdoors}. The A6's {status|standing} comes {down to|all the way down to|right down to} Audi being {one of|certainly one of|considered one of|one among|one in all|one in every of} {the first|the primary} premium manufacturers to enter the Chinese {car|automobile|automotive} market.

{The center|The middle} console is inclined {slightly|barely} {toward|towards} the driver; the {four|4} {round|spherical} air vents are {reminiscent of|harking back to|paying homage to} jet engines. The console on {the center|the middle} tunnel is {reminiscent of|harking back to|paying homage to} the rear of a {sailing|crusing} yacht. The intuitively {simple|easy} controls are a {classic|basic|traditional} Audi {strength|energy|power}, as is the {high|excessive}-{quality|high quality} workmanship. Numerous lovingly designed {details|particulars}, such {as the|because the} {precise|exact} {click|click on} of the knobs for the air conditioner or the stitching on the {leather|leather-based} steering wheel, illustrate the premium character of the A1 Sportback. The A1 Sportback comes {standard|commonplace|customary|normal} with {four|4} seats; a fifth seat is {optional|elective|non-compulsory|non-obligatory|optionally available}. {They provide|They supply} a sportily low seating {position|place} and good {support|assist|help}. Headroom and shoulder room have {each|every} been {increased|elevated} roughly one centimeter (0.39 in) {compared|in contrast} with the three-door sister {model|mannequin}. All {four|4} {doors|doorways} {offer|provide|supply} ample storage. Cup holders and a 12V outlet are {standard|commonplace|customary|normal}, with a storage {package|bundle|package deal} {available|accessible|obtainable|out there} as an {option|choice|possibility}. The luggage compartment of the A1 Sportback has a {capacity|capability} of 270 liters (9.{53|Fifty three} cu ft). Folding down the {split|break up|cut up} rear seat {increases|will increase} this to 920 liters (32.{49|Forty nine} cu ft).

The L-{shaped|formed}, deeply retractable head restraints {do not|don't} {have to|must|need to|should} be {removed|eliminated} {to do this|to do that}. The loading lip is a comfortably low {66|sixty six} centimeters (25.98 in). The {optional|elective|non-compulsory|non-obligatory|optionally available} luggage compartment {package|bundle|package deal} makes loading {even more|much more} {practical|sensible}, with usefully divided storage compartments {under|below|beneath|underneath} the loading {floor|flooring|ground} and {other|different} amenities. Powerful and {efficient|environment friendly}: the drivetrain. The Audi A1 Sportback {is available|is accessible|is obtainable|is offered|is on the market|is out there} with a {choice|alternative|selection} of six {four|4}-cylinder engines: three TFSI and three TDI {units|items|models}. {All of the|All the|The entire} engines {follow|comply with|observe} the downsizing {principle|precept} - they substitute {forced|compelled|pressured} induction for displacement and draw their {fuel|gas|gasoline} {through|by|by means of|by way of|via} direct injection {units|items|models}. All {versions|variations} {except|besides} the 1.6 TDI with S tronic and {the most|essentially the most|probably the most} {powerful|highly effective} gasoline engine are {equipped|geared up|outfitted} with a {start|begin}-{stop|cease} system. {The base|The bottom} engine, the 1.2 TFSI, produces {63|sixty three} kW (86 hp). Particularly {effective|efficient} thermal {management|administration} contributes to its low {fuel|gas|gasoline} consumption of 5.1 liters per {100|a hundred|one hundred} km (46.12 US mpg). {The two|The 2} 1.4-liter TFSI engines produce {90|ninety} kW (122 hp) and 136 kW (185 hp). {The top|The highest}-of-the-line gasoline engine is supercharged and turbocharged, {resulting in|leading to} 250 Nm (184.39 lb-ft) of torque, a zero-to-{100|a hundred|one hundred} km/h (62.14 mph) time of 7.{0|Zero} seconds and a {top|high|prime} {speed|pace|velocity} of 227 km/h (141.05 mph).

Three TDI {units|items|models} {round|spherical} out the lineup. The 1.6-liter engine {is available|is accessible|is obtainable|is offered|is on the market|is out there} in two {different|completely different|totally different} {versions|variations}, with {66|sixty six} kW ({90|ninety} hp) and 77 kW (105 hp). When paired with a {manual|guide|handbook} transmission, {both|each} {versions|variations} {consume|devour|eat} {just|simply} 3.{8|Eight} liters of {fuel|gas|gasoline} per {100|a hundred|one hundred} km (61.{90|Ninety} US mpg) on {average|common}, which corresponds to {only|solely} {99|ninety nine} grams of CO2/km (159.33 g/mile). The 105 kW (143 hp) 2.{0|Zero} TDI to {follow|comply with|observe} later accelerates the A1 Sportback to {100|a hundred|one hundred} km/h (62.14 mph) in 8.5 seconds, {yet|but} its {average|common} {fuel|gas|gasoline} consumption is {just|simply} 4.1 liters of {fuel|gas|gasoline} per {100|a hundred|one hundred} km (57.37 US mpg). The transmission {also|additionally} underscores the {high|excessive}-tech character of the A1 Sportback and its {special|particular} {position|place} {in the|within the} compact {segment|phase|section}. Audi {offers|affords|gives|presents|provides} the seven-{speed|pace|velocity} S tronic as an {option|choice|possibility} with the 1.{4|Four} TFSI with {90|ninety} kW (122 hp) and 1.6 TDI with {66|sixty six} kW ({90|ninety} hp); it comes {standard|commonplace|customary|normal} with {the top|the highest} TFSI {model|mannequin} with 136 kW (185 hp).

The {dual|twin}-clutch transmission shifts comfortably, {extremely|extraordinarily} {quickly|rapidly|shortly} and with no perceptible interruption to the {flow|circulate|circulation|move|movement|stream} of {power|energy}. {The two|The 2} clutches {do not|don't} {need|want} a separate oil {supply|provide}, making the S tronic {even more|much more} {efficient|environment friendly}. The driver can let the seven-{speed|pace|velocity} S tronic, which {also|additionally} {includes a|features a} hill hold {assist|help}, shift {automatically|mechanically|robotically|routinely} or {control|management} it manually. Shift paddles on the steering wheel {are available|can be found} as an {option|choice|possibility}. The {manual|guide|handbook} transmissions - with a {five|5}-{speed|pace|velocity} or six-{speed|pace|velocity} gearbox {depending|relying} on the engine - {also|additionally} {offer|provide|supply} {the perfect|the proper|the right} {combination|mixture} of sportiness and {efficiency|effectivity}. Sporty and stable: the chassis. Whether in {the city|the town|town}, on an interurban {road|highway|street} or on the {highway|freeway} - the A1 Sportback is {always|all the time|at all times} {great|nice} {fun|enjoyable} to drive. The {front|entrance} suspension is a McPherson {construction|building|development}; a torsion beam axle is used {in the|within the} {back|again}. {The weight|The burden|The load} distribution is in {perfect|excellent|good} harmony with the {front|entrance}-wheel drive system. The chassis is tuned for agility. {It is|It's} even sportier {in the|within the} Ambition trim line and {more|extra} dynamic {again|once more} with the S line sport suspension. The Attraction trim line {includes|consists of|contains} 15-inch steel wheels, {while|whereas} the Ambition comes with 16-inch alloy wheels (1.{4|Four} TFSI with 136 kW (185 hp) comes {standard|commonplace|customary|normal} with 17-inch wheels).

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Chinese EV maker Nio aims for valuation topping $8 billion with U.S. IPO

A Nio EP9 autonomous electric vehicle, on display at the company's Nio House brand experience center in Beijing. Photo credit: Bloomberg

Nio Inc., the Chinese electric-car maker backed by Tencent Holdings Ltd., is planning a U.S. initial public offering that would give it a valuation topping $8 billion as it gears up to take on the likes of Tesla Inc.

The company is aiming to raise as much as $1.3 billion, offering 160 million American depositary shares at $6.25 to $8.25 each, according to a regulatory filing Tuesday in the U.S. That would give the company a market capitalization of about $6.4 billion to $8.5 billion.

Nio is among Chinese electric-car companies raising money to fund aggressive product development and expansion amid the auto industry's seismic shift toward alternative-power and autonomous vehicles. China's government is also pushing to increase the use of battery-powered cars to cut pollution and reduce dependence on imported oil, spawning a clutch of startups in the nation aiming to take on Tesla and legacy carmakers.

Nio plans to use proceeds from the offering for r&d, sales and marketing, and building manufacturing facilities and the supply chain, the company said in the filing.

Shares are expected to price on Sept. 11 following a roadshow that starts Wednesday in Hong Kong, according to terms for the deal obtained by Bloomberg.

Concentrated power

The offering has been structured to ensure voting rights remain concentrated with founder William Li and technology company Tencent. After the IPO, Li will own 14.5 percent of the electric-car maker and have 48.3 percent of the voting power through Class C shares. The Class B stock owned by Tencent and related entities after the offering will represent 12.9 percent of NIO and 21.5 percent of the voting power, according to the prospectus.

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As much as 5 percent of the ADS, each representing one Class A share, has been reserved for directors, officers, employees and other individuals associated with company, it said. Including an overallotment option, the IPO could raise as much as $1.5 billion.

After meeting investors in Hong Kong on Wednesday and Thursday, the Nio management will be in Singapore on Friday, according to the deal terms. The roadshow will continue next month in London and the U.S.

Nio's move for the U.S. listing comes amid Tesla's plan to set up a Gigafactory in Shanghai. The U.S. company, which has a market capitalization of $53 billion, is among foreign carmakers trying to make inroads in the world's biggest electric-vehicle market.

Nio, formerly known as NextEV, is one of several startups to have sprouted in China after the government introduced incentives. In January, Byton, a Nanjing-based company started by former BMW AG executives, became the first Chinese automaker to hold a large-scale unveiling at the Consumer Electronics Show in Las Vegas. Others like WM Motor Technology Co. and XPeng Motors, backed by funding from Alibaba Group Holding Ltd., are also developing new models.

First vehicle

Nio's founder Li, also known as Li Bin, plans to transfer 50 million shares, accounting for about one-third of stock he owns in the company, to a trust at an "appropriate time in the future," he said in a letter included in the prospectus. Li will retain voting rights to the stock, while Nio users will discuss and propose how to use "economic benefits from these shares, through certain mechanisms to be implemented in the future," he said.

Nio began selling its first vehicle, the ES8 utility vehicle, in December, about three years after the company was founded, and deliveries started on June 28 this year. The vehicle is priced at 448,000 yuan ($66,000) before subsidies.

As of Aug. 28, Nio had delivered more than 1,300 ES8s and had reservations for another 15,700 more, according to the prospectus. The company plans to begin selling another electric SUV, the ES6, by the end of 2018, with initial deliveries in the first half of 2019.

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