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Old 05-03-2016, 12:44 PM   #11 (permalink)
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More news from Jalopnic:
5th Gear: Chinese Tech Firms Go Big On Autos

Reuters has a report on how a Chinese automaker launched last year by a tech firm just poached autonomous driving staff from Google and Daimler. Other Chinese companies have snatched people from BMW and Tesla. Here’s the story:

A relaxation of restrictions on non-automakers producing electric cars in China has also encouraged more entrants. Video streamer cum automaker Le Holdings Co, or LeEco, unveiled an electric self-driving concept car ahead of the Beijing motor show, which ends on Wednesday.

Tencent, the Chinese maker of popular chat app WeChat, established Future Mobility to make electrified self-driving cars with Taiwanese electronics manufacturer Hon Hai Precision Industry Co Ltd - also known as Foxconn - and car dealer China Harmony New Energy Auto Holding Ltd.

“If you’re measuring these firms (Future Mobility, LeEco and others) as automotive companies, the risks are very high and it’s a very long shot for any to make it,” said Bill Russo, managing director at consultancy Gao Feng Advisory Co. “Even Tesla has taken 10 years to earn respect.”

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