The news of a new launch of an e-vehicle came out when Daniela announced the same in SAIC motor.
A new Sedan with a wireless charging facility shall be launched with SAIC motors, the largest car manufacturer in China. Thus the collaboration is supposed to work wonders for newer business avenues.
Thus there is a growing trend in venturing out in the automobile sectors for the tech companies nonetheless. This will notch up the competitions for Tesla of the US that has recently also launched its office in India.
Alibaba has previously made investments in Xpeng Motors, which is a start-up company of electric vehicles. IM will be the new brand name of the Sedan, which is an abbreviation for “intelligence in motion”.
Another investor in this venture is the Shanghai Zhangjiang Hi-Tech Park Development, a subsidiary of the Chinese Government. Hence, the project is a large scale one with powerful investors.
The shares of the companies shall stand as follows
- SAIC- 54%
- Alibaba- 18%
- Shanghai Zhangjiang Hi-Tech Park Development-18%.
The following features shall be available in the new Sedan:
1.A solid-state battery from Contemporary Amperex Technology.
2.This battery will have higher energy density and shall have chips from Nvidia.
3.There will be a self-park feature and have new-age technology using smartphones like photo-shooting and sharing the same on social media.
The pre-orders shall start in April 2021 at the annual auto show in Shanghai and delivered in 2022, said Ivan Su, an analyst with Morning Star, Hong Kong.
“The partnership will help SAIC add more premium models to its portfolio, thanks to Alibaba’s reputation and Alibaba’s expertise in customer analytics and distribution channels will help boost sales.”
Geely and Foxconn have also ventured into the EV market, and thus rush in EV vehicles is to make up for 20 percent of all car sales in Beijing by 2025. According to experts, Foxconn already serves BMW and Tesla, and its global footprint will be beneficial for the EV market in China.
There has already been a growth of 11% to 1.36 million in 2020, according to the Chinese Association of Automobiles in the hybrid vehicle market, including the electric, plug-in hybrid, and the new age fuel cell models of cars.
On the whole, the vehicle sale has reduced by 2% lately to 25.3 million, and thus these new scores on the EV front will definitely be a welcoming step.