Newly-established Chinese electric vehicle (EV) company Zhiji Motor said it plans to begin mass production of vehicles at a plant in Shanghai in late 2021, according to local reports.
The startup, a joint venture between China's SAIC Motor, internet giant Alibaba and state owned property developer Shanghai Zhangjiang Group, has a paid up capital of CNY10bn (US$1.53bn). It plans to unveil two new EV models in January, followed by a third model at the Shanghai motor show in April and also plans to open its first showroom in May – in Shanghai.
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Zhiji vehicles will be based on SAIC Motor's platform technology and will use Alibaba's connected platforms and artificial intelligence, which the company expects will make them competitive in China's rapidly-evolving market where demand for connected services is soaring.
Separate reports also suggest Zhiji Motor is developing batteries in partnership with China's leading EV battery manufacturer Contemporary Amperex Technology Company Limited (CATL) that will have an energy density 30%-40% higher than current units, providing a range of up to 1,000 km (600 miles) on a single charge.
