Alibaba founded e-mobility startup in China with SAICNovember 27, 2020
New company named Zhiji Motor will make high-end autonomous electric vehicles
Chinese carmaker SAIC, e-commerce corporation Alibaba Group and the Pudong district of Shanghai have signed an agreement to create a new company Zhiji Motor, which will produce high-end electric vehicles. The initial investment in the startup will exceed $ 1.5 billion.
The partners promise to release a line of high-end electric vehicles with outstanding dynamics: all cars are said to be able to accelerate to 100 kilometers per hour in less than four seconds. The first model is due to be presented in January, and simultaneously in Shanghai, London and North America. Thus, we are talking about a brand that is initially focused on the global market.
Apparently, a feature of the new machines will be a high level of autonomy and their connection to the global information network. This is where Alibaba’s experience in working with large amounts of information should come in handy. The name Zhiji itself consists of the Chinese characters Zhi Zi. The first means wisdom, and the second can be translated by the word “self-government”. That is, we are talking about cars with intelligent, probably automatic control.
SAIC is one of the largest Chinese carmakers in terms of production. It is this auto giant that, together with GM, produces one of the best-selling electric vehicles in China – the compact Wuling Hongguang model.
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