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January 14, 2021

Alibaba to make wireless charge EV with SAIC Motor

Alibaba is launching an electric sedan with wireless charging under a new brand formed with state-owned SAIC Motor, according to seekingalpha.com, citing Nikkei.

By Olly Wehring

Alibaba is launching an electric sedan with wireless charging under a new brand formed with state-owned SAIC Motor, according to seekingalpha.com, citing Nikkei.

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The sedan, unveiled under the brand name IM (for “intelligence in motion”) features a new solid-state battery from Contemporary Amperex Technology (CATL), China’s largest battery maker, and chips from Nvidia.

The new EV would be able to park itself and has various smartphone functions.

Preorders are expected to start in April during the annual Shanghai auto show, according to the reports.

Alibaba is already an investor in XPeng, seekingalpha.com noted.

Earlier, Taiwan-based electronics giant Hon Hai Precision Industry Company, better known as Foxconn, announced it had signed a strategic agreement with China’s Zhejiang Geely Holding Group to produce electric vehicles, components and advanced systems for third-party companies.

Each partner would hold a 50% stake in the joint venture, which will produce electric vehicles and provide components and services for third-party companies looking to outsource production.    

Free Report
img

What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
  Consult this report now to find out how you and your company can benefit from our Explorer platform.
by GlobalData
Enter your details here to receive your free Report.

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