29 Apr '16, 5pm

China’s EV Market Seen as Smart Investment for Tech Giants https://t.co/5z5cNsupq2

China’s EV Market Seen as Smart Investment for Tech Giants https://t.co/5z5cNsupq2

Well-funded internet companies in China see electric vehicles as a very smart investment channel. Chinese Internet giant Tencent Holdings Ltd. is a major investor in NextEV, a Shanghai-based startup looking to compete with Tesla Motors. About 500 engineers are working for NextEV to unveil its first electric car in 2017. “Our goal is to build a high-end, high-performance electric car for half the price of a Tesla car,” said Li Bin, co-founder and chairman of NextEV. The Chinese government is concerned that conventional automakers may not have what it takes to roll out innovative, exciting new EVs to win over the hearts of Chinese consumers. EVs are an integral part of its policies as China struggles to cut pollution and reduce its dependence on imported energy. Increased incentivizing has opened opportunities for smaller companies to build and sell EVs in China. China’s ind...

Full article: http://www.hybridcars.com/chinas-ev-market-seen-as-smart-...

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