|
 Tech firms are encroaching on the auto sector as cars become
increasingly reliant on digital technology, with Chinese e-commerce
firm Alibaba Group Holding Ltd and internet search provider Baidu
Inc funding automotive ventures.
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."
Future Mobility has hired lead designer Wolfram Luchner from
Alphabet Inc's self-driving car project, a person familiar with the
matter told Reuters, declining to be identified ahead of an official
announcement.
From Daimler, the venture has hired Mercedes-Benz North America
autonomous driving research and development director Luca Delgrossi,
the person said.
When contacted by Reuters, Future Mobility Chief Operating Officer
Daniel Kirchert confirmed the appointments.
The automaker aims to produce luxury cars in China for sale at home,
in Europe and the United States, Kirchert said, declining to specify
when production would start.
[to top of second column] |
"The auto sector has three different tipping points at the same
time: electric powertrain with the connected car and autonomous
drive," he said.
Future Mobility will be able to adapt more quickly to these changes
than traditional automakers because it is more difficult for larger
manufacturers to enact major change, he said.
Kirchert also confirmed other high-profile recruits from Tesla
Motors Inc and BMW AG, as reported by Reuters, Bloomberg and China
Daily.
Those recruits include Carsten Breitfeld who will become Future
Mobility's chief executive once released from BMW, where he was
project manager for the i8 plug-in hybrid sports car.
Kirchert himself was China head of Nissan Motor Co Ltd's luxury
Infiniti brand prior to officially joining Future Mobility last
week.
(Reporting by Jake Spring; Editing by Christopher Cushing)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
