The electric vehicle startup has secured Tencent as an investor and plans to launch its first product, a supercar, next year.
China-based internet company Tencent is teaming with hedge fund Hillhouse Capital to fund an electric vehicle (EV) company called NextEV, Reuters has reported.
NextEV, which will compete against US-based EV producer Tesla Motors in China, is also backed by private investors William Li, Xiang Li and Richard Liu.
The Shanghai-headquartered startup has opened offices in Europe and the US, and its first model, an electric supercar, is expected to launch in 2016. It has also secured the services of executives…
