Alibaba will contribute its big-data expertise to a new electric car sharing plan run by Kandi Tech Group in China.
China's cities are blanketed by toxic haze with air pollution that can shut down places like Beijing. Of course, there are many citizens who want to move from a scooter to a car, but that could create more pollution. In steps carsharing, and an idea from Kandi Technologies Group that its small electric vehicles could be part of the solution in the city of Hangzhou, an hour-long train ride from Shanghai.
Geely and Kandi Technology have plugged themselves together to research, develop, produce and market EVs together. The initial investment is a billion yuan ($160 million US) to fund the partnership, and each partner retains a 50-50 share.
China's Geely Automobile Holdings, which bought Volvo three years ago, is still making news. This time, the vehicles in question are just a bit smaller. Geely and Kandi Technologies have announced that they will work together to further develop EV technology and increase sales.
How does one say "batteries not included" in Chinese?
When automotive talk turns cheap, the most common vehicle that comes up is the Tata Nano, which currently holds the title as the Cheapest New Car in the World and is only available in India. So, Americans, how would you like to snag a brand-new electric car for the low, low price of just $865 right here in the United States? If you happen to live in Oklahoma, you can do just that... sort of.