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.


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