Mexican Media Brands
China’s Future Mobility Aims for Luxury EV Launch in 2020
Future Mobility Corp., the four-month-old Chinese startup backed by social network giant Tencent Holdings Ltd., hopes to begin selling highly automated luxury electric cars by 2020.
#hybrid
Share
Future Mobility Corp., the four-month-old Chinese startup backed by social network giant Tencent Holdings Ltd., hopes to begin selling highly automated luxury electric cars by 2020.
CEO Cartsen Breitfeld tells The Wall Street Journal the company intends to establish itself in China, Europe and the U.S. Breitfeld joined the company in March from BMW AG, where he headed the company's i8 plug-in hybrid supercar program. He says Future Mobility targets eventual annual sales of several hundred thousand units.
Future Mobility is completing its first round of fundraising now and is building a headquarters in Shenzhen. The company’s other initial backers include Foxconn Technology Group, which assembles Apple iPhones, and Chinese luxury car dealer Harmony New Energy Auto.
The would-be carmaker, which patterns its plans after those of Tesla Motors Inc., has attracted dozens of engineers from BMW, Google, Mercedes-Benz and Tesla. But analysts say Future Mobility, like several other similar startups, faces formidable challenges achieving what many analysts consider wildly optimistic sales goals.
RELATED CONTENT
-
Startup Readies Solar-Powered EV
Germany’s Sono Motors GmbH says it has received 5,000 orders for its upcoming Sion electric car, which can be partially recharged by it attached solar panels.
-
Hyundai Shops for a Partner to Make Electric Scooters
Hyundai Motor Co. is looking for a domestic partner to mass-produce the fold-up Ioniq electric scooter it unveiled at last year’s CES show in Las Vegas, a source tells The Korea Herald.
-
Study: Nearly 60% of EV Sales in 2035 Will Be in China
Global demand for electric vehicles will multiply by a factor of 15 to 11.3 million units by 2035, with the Chinese market generating 57% of the total, according to the Fuji-Keizai Group.