
They certainly have brought a new discussion to the EV and autonomous vehicle landscape.”įaraday’s leading financial backer is Jia Yueting, the founder and CEO of Leshi Internet & Technology Co. “They’ve landed surprisingly from out of the blue, and I think both have the potential to be serious players on a global scale. “These are the new ‘automotive dragons’ rising out of China’s tech industry,” an executive at a Tier 1 supplier remarked privately to Automotive Engineering. It recently selected a site in North Las Vegas, NV, for a new $1B manufacturing plant for a luxury electric car that would compete with Tesla’s Model S and the upcoming wave of high-end EVs.Īnd Internet search-engine giant Baidu, dubbed “the Google of China,” is joining the race to develop autonomous cars, with a growing engineering presence in California and plans to field its first such vehicles in China by 2018. Two upstart Chinese companies with big automotive ambitions are grabbing headlines as they lure top engineering and product-development talent- and prepare to unveil potentially disruptive new products and technology strategies.įaraday Future, the emergent Chinese EV maker, was founded in 2014 and already has more than 500 employees.
