Beijing Automobile signs deal to invest in American new energy firm Atieva

By VCPOST Staff Reporter

Feb 18, 2014 08:42 AM EST

Beijing Automobile has inked a deal to acquire 25.02% shares of US-based new energy firm Atieva. 

Based on the introduction of Beijing Automobile Group, the deal is designed to beef up the company's efforts in electronic terminal research: design, and manufacture of new energy, the report stated.

In 2013, the Chinese firm has found its new energy vehicle company. The US Atieva Company, company that provides new energy core system for automobiles, participates in the research and development of electronic cars such as the Tesla Roadster, Chevrolet Volt, and Audi R8, the report detailed.

Founded in 2007, Atieva Inc is a firm that develops advaced batteries for plug-in cars. The company is currently headquartered in Mountain View, California, according to its Crunchbase profile.

The company is also expected to launch a high-end electric car called Audi A6L three years after the transaction, according to Gasgoo.

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