Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

China’s e-commerce giant Alibaba Group has become the third technology company this week to join hands with an automaker to produce electric vehicles. 


In a joint venture with SAIC Motor and Shanghai Zhangjiang Hi-Tech Park Development, Alibaba gave rise to the new brand intelligence in motion (IM), local media reported. SAIC holds a 54pc stake with Shanghai Zhangjiang and Alibaba owning 18pc stakes each. 


The company plans to launch two EV models, a sedan and an SUV in the short term, with pre-orders opening in April. SAIC has not disclosed the volumes it plans to produce nor the plant where it plans to make the EV. Alibaba also holds a major share in Xpeng Motors. 


In the past week, Apple and Foxconn also indicated plans to enter the EV market, which continues to grow at a rapid pace globally. 

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