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Don' t Learn Too Many Names Just 1% Of Chinese Startups Will Succeed

Aug. 12, 2018 6:10 PM ET by Jared Rosenholtz Industry News / 5 Comments The battle to build electric cars will be hard-fought. Chinese Tesla-killer. That's a term you've probably heard us say a million times over the past couple of years. China is host to hundreds of startup companies that are all trying to be the next Tesla. Some of them have shown some promise, like Byton, a company that has raised over $500 million to build its handsome-looking SUV. Unfortunately, these companies are all facing stiff competition, and Bloomberg reports that only 1% will actually survive. This stat comes from Chinese venture capital fund Nio Capital, which is partly backed by a Chinese electric car manufacturer NIO. Nio Captial managing partner Ian Zhu said: "It's a very complicated system that needs abundant investments and a large group of people to be able to build a car from scratch. Therefore, the survival rate of all these EV startups will be very low." Nio has its own impressive EVs including the 643-horsepower ES8 SUV and the bonkers 1,342-hp EP9 supercar, which was the fastest car to ever tackle the Hillclimb at Goodwood. Unfortunately, building mass-market production cars is not the same as building a handful of impressive demo cars. Manufacturing continues to be the big issue for these startups. Building cars isn't easy, and even Tesla has struggled to do it in volume. Most of these companies in China have yet to produce EVs in large numbers and deliver them to customers. Reaching this goal will likely weed out the 99%. Nio Nio Nio Byton Byton Byton

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Tesla Model 3 Tesla Model S Tesla Model X Jared Rosenholtz Editor-at-Large After graduating with an MBA, Jared pursued his love of cars by becoming an automotive journalist. An internship with CarBuzz grew into his current position as Editor At Large. Jared now spends most of his time evaluating new vehicles and chasing the latest news stories in the automotive industry. When he’s not attending Cars & Coffee events on the weekend, Jared loves to watch NFL football and cruise around with the top down in his German convertible. Contact Jared @Carsnbites @jar_rosenholtz LoginSign Up Home News Features Car Reviews Car Advice 2021 CarBuzz Awards New Cars Used Cars Future Cars Compare Cars Sell My Car Car Dealerships Buy Here Pay Here Used Car Reviews Popular Tags Cars # Video # TOP # Spy Shots # Reveal # Rumor # Auto Show # Supercar # Tuning # Car Culture # Industry News # Motorsport Acura Alfa Romeo Aston Martin Audi Bentley BMW Bollinger Bugatti Buick Cadillac Caterham Chevrolet Chrysler Dodge Ferrari Fiat Fisker Ford Genesis GMC Hennessey Honda Hyundai Infiniti Jaguar Jeep Karma Kia Koenigsegg Lamborghini Land Rover Lexus Lincoln Lordstown Lotus Lucid Motors Maserati Mazda McLaren Mercedes-Benz Mini Mitsubishi Nissan Pagani Polestar Porsche Ram Rimac Rivian Rolls-Royce Spyker Subaru Tesla Toyota Volkswagen Volvo By Make Acura Alfa Romeo Aston Martin Audi Bentley BMW Bollinger Bugatti Buick Cadillac Caterham Chevrolet Chrysler Dodge Ferrari Fiat Fisker Ford Genesis GMC Hennessey Honda Hyundai Infiniti Jaguar Jeep Karma Kia Koenigsegg Lamborghini Land Rover Lexus Lincoln Lordstown Lotus Lucid Motors Maserati Mazda McLaren Mercedes-Benz Mini Mitsubishi Nissan Pagani Polestar Porsche Ram Rimac Rivian Rolls-Royce Spyker Subaru Tesla Toyota Volkswagen Volvo By Car Type SUVs Crossovers Sedans Coupes Trucks Sports Cars Wagons Vans Hatchbacks Convertibles Small Cars Luxury Cars Electric Cars Hybrid Cars Future Cars By Price Up to $15K $15K - $25K $25K - $35K $35K - $45K $45K - $55K $55K - $75K $75K - $100K $100K - $200K $200K - $300K Above $300K Back To Top