Japan Tesla cut into the electric car market by Chinese investors

Posted on 12/16/2016 10:00:00 AM

Electric car industry is recognized as the next outlet, the world's major car manufacturers have been gearing up.
"Our position is not a purely car manufacturer, but to other car manufacturers to provide high value-added, intermediate manufacturing technology platform suppliers." Japan's electric car maker GLM (Green Lord Motors) Chief Financial Officer Weeds too (Sota Nagano) in an interview with the 21st Century Business Herald interview.
Known as "Tesla in Japan," GLM exports its own technology to develop powertrain, chassis and vehicle control systems for electric vehicles and tailor them to the needs of customers.
Nagano grass too frankly, the current electric car industry is very popular, the current electric vehicle sales accounted for only about 3% of the entire automotive market share, so it is too early to say who is the winner of the future of the electric car industry, "but not every business You can spend billions of dollars for early research and development.
GLM was founded in 2010 in Kyoto, the former Sony CEO Nobuyuki Nobuyuki (Nobuyuki Idei) funded the establishment. Currently, GLM offers two ultra-luxury electric sports car, looks exactly like the Porsche sports car GLM-ZZ, August 2014 sale in Japan, priced at about $ 80,000.
Recently, the company has just launched with gull-wing doors GLM-G4, priced at up to 20 million -30 million. GLM-G4 chassis to composite material composition, so that the body lighter and stable. The car can accelerate from 0 to 100 km / h in less than 3.7 seconds, cruising at 250 km / h and sustaining more than 248 miles.
"By building these luxury high-performance electric vehicles, we can continue to break through a number of technical barriers, so as to lay the foundation for some of the technology in mass production of mass-market EVs."
Targeting the Chinese market
The Chinese auto industry is thriving as the Chinese government launches a number of supportive measures, such as fiscal subsidies, tax exemptions and incentives to build charging facilities. GLM is optimistic about the prospect of China's electric car industry and plans to set up studios and R & D centers in China to meet the needs of the Greater China region.
Nagasaki grass too, GLM and several of China's top ten car manufacturers have contact, "but our ideal partner is a number of medium-sized enterprises, we can provide engineering and technical services, at the same time, there are some software , IT companies also expressed interest in cooperation, they tend to software, online shopping, content and so on.
"We want to find partners who can keep the project running from start to finish, and we are open and flexible in selecting partners," he admits.
According to the annual report of the family network in 2015 shows that the Chinese mobile game development company currently holds about 2.55% stake in GLM, the investment amount of 5.06 million yuan. The company previously said it plans to work with an electric car company, the use of GLM technology production off-road vehicles, 2018 sales.
At the same time, Beijing start-up company Zhiche Youxing (Zhiche Auto) plans to launch next year, a can access the Internet's electric vehicles. The company's four founder and CEO Shen Haiyin previously publicly disclosed that the company is seeking investment GLM company, to use its technology.
As we all know, the battery is currently restricting the popularity of electric vehicles into the biggest obstacle. "At present, the cost per kilometer of electric vehicles is about 280 US dollars, we predict that in 2023 is expected to drop to 150 US dollars, when the cost of electric vehicles will be the cost per kilometer with fuel cars." Nagano grass too pointed out.
World Wildlife Fund released a report predicts that by mid-2020, electric car prices and driving costs will be cheaper than the internal combustion engine vehicles, so that sales soared. 2015, the world's approximately 1.3 million electric cars, of which China accounted for a quarter. China's electric car sales in 2016 is expected to double to 70 million, the report speculated that electric vehicles will be 10 to 20 years in China, universal access, penetration rate of 100%.
Music and many other companies have entered the electric vehicle industry, Lei Jun, Ma and a number of big circle of science and technology are also involved in the circle, however, Nagano grass too admitted: "The industry really enter the threshold than many people imagine higher, The importance of technical strength is also beyond question, and supplier systems and technology partners are also critical, and not money can buy.
Financing plan
At present, vehicle sales contribute about 35% of the revenue, the rest are mainly from third-party to provide electric vehicle engineering and technology, of which about half of the engineering and technology revenue from the domestic market, the rest from Greater China, Europe and other places. "Nagai grass too said.
GLM's founder and CEO Hirokoma (Hiroyasu Koma) previously told the media, GLM has so far raised through two rounds of financing of about 2.1 billion yen, and close to complete the third round of financing. The company may raise "billions of yen" through the fourth round of financing to develop a new generation of chassis chassis.
For the future listing and financing, GLM open, Nagano grass too revealed: "At present, we have about 5-6 strategic investors, including the family office in Asia, Japan, the Middle East sovereign funds and venture funds. Investors are very cautious, fancy is that investors can bring our resources and network of relationships.
"At the moment, we are very pleased with the level of cash reserves, but due to the current pace of business expansion than we expected, it may need to consider appropriate increase in financing to meet future expansion plans and our attitude to the listing plan will not over-aggressive , The company's every step of the development have been carefully studied, but the current pace of business development of engineering technology is far beyond our expectations, so the need for R & D to a certain expansion. "Nagano grass too, and said the business segment has been profitable .
At the same time, he said, the company has about 30 experienced chief engineer, "the chief engineer can operate independently of a separate outsourcing project." It is reported that GLM has a number of Toyota from Japan and other large automobile manufacturer's senior engineer.

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