Back in February this year, Beijing Automotive Industry Holding Corporation (BAIC) acquired 25% equity ownership of Atieva – a lithium-ion battery manufacturer for electric cars based in Redwood City, California. BAIC currently is the largest shareholder of Atieva.
According to the agreement, Atieva will help BAIC to develop a mid-size electric luxury sedan comparable to the Audi A6L, within 3 years. If BAIC intends to enter the US market, clearly its main target will be the Tesla Model S.
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