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Chinese Automaker To Launch Tesla Motors Inc Look-Alike This Year

Currently, Tesla has a lot of things to worry about: the completion of the Reno Nevada-based Gigafactory, delivery problems, the production of its upcoming Model X, and low sales in China. And it looks like the Chinese electric vehicle (EV) market will not wait for Tesla Motors Inc. (NASDAQ:TSLA) to sort things out in the world’s largest automotive market.

The new Chinese EV, Aoxin Ibis, is expected to hit the local market by the end of this year, according to Car News China. The full-size electric sedan is a Tesla Model S look-alike. The vehicle has an aluminum bodywork and slight inclusion of carbon-fiber pieces just like the Tesla sedan, but it is slightly longer and 600 pounds lighter.

When it comes to muscle power, the vehicle is not even close to Tesla. Aoxin Ibis provides only 181 horsepower and 250 lb-ft of torque. However, the 285-mile battery range is competitive for Tesla vehicles, which have a maximum speed of just 94 miles per hour.

The new vehicle draws power from triple electric motors. The main motor is fixed on the rear axle, followed by a two hub-motor for each rear wheel.

Aoxin Ibis made its debut at the New Energy Auto Show (NEAS) in Shanghai last year. The vehicle, also called Aoxin E45 or Aoxin Heying, is a product of the Chinese company, Aoxin New Energy, which is located in Yancheng City, Jiangsu Province.

The company also sells mini-electric cars in the US-dubbed e-GO EV, which is locally made by a Las Vegas company called 2050Motors, according to Car News China.


The automaker has not announced any details regarding the model’s price, but it is safe to say that it will cost less than Tesla’s Model S in China. However, it is expected that the Chinese car maker will reveal more about the vehicle at the International New Energy Vehicle Show scheduled to start on March 17 in Jinan City.

It is unlikely that Tesla will be shaken by this move; a more worrisome problem for the company is its overall Chinese operations, as it is currently cutting jobs in the region on account of low sales. However, strong governmental support for local EV manufacturers is making it hard for Tesla to compete with cheap Chinese brands.

Tesla stock closed at $193.88 on Friday, down 3.36% over the rumor of delayed Gigafactory construction.

http://www.bidnessetc.com/36437-chinese-automaker-to-launch-tesla-motors-inc-lookalike-this-year/

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