The global electric car business is about to get very interesting - SupChina
Free

We're a new type of news publication

China news you won't read elsewhere.

Weekly Newsletter

Get a roundup of the most important and interesting stories coming out of China.

Podcasts

Sinica, TechBuzz China, and our 6 other shows are the undisputed champs of China podcasts. Listen now.

Feature Articles

Interactive, web-based deep dives into the real China.

Premium

Join the thousands of executives, diplomats, and journalists that rely on SupChina for daily analysis of the full China story.

Daily Newsletter

All the news, every day. Premium analysis directly from our Editor-in-Chief Jeremy Goldkorn.

24/7 Slack Community

Have China-related questions and want answers? Our Slack community is a place to learn, network, and opine.

Free Live Events & More

Monthly live conference calls with leading experts, free entry to SupChina live events in cities around the world, and more.

"A jewel in the crown of China reporting. I go to it, look for it daily. Why? It adds so much insight into the real China. Essential news, culture, color. I find SupChina superior."
— Max Baucus, former U.S. Ambassador to China

Free

We're a new type of news publication

China news you won't read elsewhere.

Weekly Newsletter

Get a roundup of the most important and interesting stories coming out of China.

Podcasts

Sinica, TechBuzz China, and our 6 other shows are the undisputed champs of China podcasts. Listen now.

Feature Articles

Interactive, web-based deep dives into the real China.

OR… for more in-depth analysis and an online community of China-focused professionals:

Learn About Premium Access Now!
Learn More
Minimize
Learn More
Minimize

The global electric car business is about to get very interesting

Part of the daily SupChina newsletter. Subscribe for free

Ecommerce behemoth Alibaba and Foxconn — the company that manufactured most of the smartphones you’ve ever owned — have led a 2.2 billion yuan ($347.74 million) funding round in Chinese electric car maker Xiaopeng Motors, according to an Alibaba press release.

  • Other investors in Xiaopeng include Morningside Venture Capital, Yuri Milner, and GGV Capital (disclosure: SupChina partners with GGV on the 996 Podcast.) The company has raised more than 5 billion yuan so far.
  • Xiaopeng intends to take on “other Chinese companies and Tesla in the electric-car and autonomous-driving sectors,” according to Alibaba’s press release. Its products will combine “the advantages of the internet, artificial intelligence and traditional manufacturing.”
  • The G3 SUV, its first model, was released in October 2017. The company is positioning it as “the vehicle of choice for those with a ‘geek lifestyle.’”
  • Further reporting: Reuters — Alibaba and Foxconn are pouring millions into a Chinese electric carmake; Bloomberg — Alibaba, Foxconn invest $350 million in Chinese car startup.

Jeremy Goldkorn

Jeremy Goldkorn worked in China for 20 years as an editor and entrepreneur. He is editor-in-chief of SupChina, and co-founder of the Sinica Podcast.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.