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.
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.
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By GlobalDataSeparate 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.
