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Chinese Company Targets Investors with EV Prototype
China's Youxia Motors Inc. is developing an all-electric car based on the Hyundai Genesis coupe.
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China's Youxia Motors Inc. is developing an all-electric car based on the Hyundai Genesis coupe.
The company plans to show a prototype of the vehicle later this month. At that time it will launch a crowd-funding campaign with a goal of raising 3 million yuan ($480,000) to produce five vehicles.
Youxia hopes the program will spark interest from outside investors. Its goal is to eventually secure about $1.6 million to begin developing its own EV platform, but it provided no timeframe.
The Genesis-based Youxia One will have a 155-mile driving range and be capable of sprinting from zero to 62 mph in less than five seconds, according to the company. It says the car's top speed is 155 mph.
Youxia aims to keep costs down by using off-the-shelf technology for the electric motor and batteries. The company says several members of its staff are former employee of Faurecia, Geely, General Motors and Shanghai Auto.
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