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Zhiji Motor, a high-end smart electric carmaker, was launched by SAIC Motor, the Pudong New Area and Alibaba Group in Shanghai on Thursday.
The company, to be based at Pudong’s Zhangjiang Hi-Tech Park, has raised over 10 billion yuan (US$1.52 billion) in its initial round of financing so far.
Zhiji Motor will focus on technological innovation and application, as well as create a new operation model by integrating and utilizing SAIC Motor’s resources in research and development, manufacturing and marketing.
Zhiji Motor will take advantage of Zhangjiang Hi-tech Park’s world-class high-tech industrial cluster ecology and core technology resources such as artificial intelligence and chips. Alibaba will focus on the use of big data, the latest technology from Alibaba’s DAMO Academy and the synergistic advantages of Alibaba Cloud and other ecosystems.
Read more in Shanghai Daily
