New contender: Could NextEV be the next big player in the auto industry?
FRANKFURT/DETROIT: A group of deep-pocketed China-based Internet entrepreneurs and financial investors, including Tencent and Hillhouse Capital, is backing an effort to create NextEV, a new rival to US electric car maker Tesla Motors Inc.
Hillhouse is also an investor in Uber, the US ride sharing service. The backers have hired ex-Ford Motor Co executive Martin Leach to build a global automaker, a NextEV spokeswoman said. The backers have also recruited experts with previous experience at Tesla, BMW AG, Volkswagen AG and other major car companies.
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