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Chinese EV Startups Ponder Alliance
Five Chinese electric-car startups are pondering plans for an alliance that would enable them to share resources and jointly develop EV technologies.
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Five Chinese electric-car startups are pondering plans for an alliance that would enable them to share resources and jointly develop EV technologies.
The group tells Reuters it aims to finalize the association at the end of September and begin by year-end to develop a shared EV platform.
The likely participants are Aiways, CHJ Automotive, Hongxing Automobile Manufacturing, Singulato Motors and WM Motor. Singulato CEO Shen Haiyin tells Reuters the group figures that pooling resources will enable them to jump into the EV market more quickly and begin to compete where it really counts: on services and the ownership experience.
Reuters notes that fledging EV companies in China also face mounting competitive pressure from established international carmakers as they scramble to meet government sales quotas for electrified vehicles. Startups also face increased scrutiny of their technological abilities by government agencies that want to identify which EV newcomers are truly worthy of aid.
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