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Tesla's success sparks China's e-car race

By Bloomberg ( China Daily ) Updated: 2016-04-26 08:07:06

NextEV rethinks the electric car as more of a digital platform than a transportation vehicle

William Li isn't your typical, boundlessly optimistic Chinese tech entrepreneur. Yes, the founder of startup NextEV Inc has big plans to disrupt China's electric-car market and the financial backing of venture capital powerhouses Sequoia Capital and Hillhouse Capital, and considers Tesla Motors Inc founder Elon Musk an inspiration.

That said, he rates his chance of succeeding in China's fast-moving car market at a whopping 5 percent. He also thinks most of the new business models for electric cars being bandied about by tech companies will end up in the junk yard.

Tesla's success sparks China's e-car race

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