Chinese Tech Firms Charge Into Electric Cars

In a four-story Bauhaus-style building west of Shanghai, nearly 500 engineers are working to put what they hope will be China’s answer to a Tesla Motors Inc.
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electric car on the road.

Their company, NextEV, currently doesn’t have anything to sell. It plans to unveil its first electric car in 2017.

“Our goal is to build a high-end, high-performance electric car for half the price of a Tesla car,” said Li Bin, co-founder and chairman of NextEV.

Counting Chinese Internet giant Tencent Holdings

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