Search

NextEV NIO Signs Deal With Changan Auto To Make EVs In China

1 min to read
Apr 6, 2017 10:36 AM CEST

NextEV NIO has teamed up with Changan Auto for the production of electric cars for the Chinese market. Their first car will debut in concept form on the Shanghai Auto Show. The SUV, likely to be called NIO ES8, will be about the size of the Volvo XC90. NIO has released one rendering, showing a rather traditional design.

The development and production of the vehicles will be done by a new company called Yangtze River Automobile New Energy Industry Development. Shareholders are NextEV NIO, Changan Automotive, the local government of Hubei Province, and the Yangtze River Industrial Fund, which is controlled by Hubei Province. Total investment is 10 billion yuan ($1.45 billion). The company will built a new facility in the Wuhan East Lake High Tech Zone, based in Wuhan, the capital of Hubei.

This sort of mixed government-private constructions are very common in China, almost every new EV-maker uses similar schemes. And in this case there is even more government involved because Changan Auto is a state-owned company.

So much for those new and independent Chinese start-up car makers…

Recommended for you
image-42
Major Chinese automakers H1 2025 sales report: BYD and SAIC top 2 million units, Geely raises full-year targets
China-made Mazda EZ-6 sedan scored five stars in C-NCAP crash test
China-made Mazda EZ-6 sedan scored five stars in C-NCAP crash test
Mazda EZ-60 SUV to launch in September with over 26,000 pre-orders so far in China
Follow us for ev updates
Chang'an
China Car News
China Electric Car
Next EV
Nio
Shanghai Auto Show
Shanghai Auto Show 2017
Comments