Friday, May 24, 2024

FAW to launch Electric Hypercar

In global automotive industry electric vehicles are the center on attention; however, both the new products as well as the new players are now altering this concept of automobiles. The technology of electric vehicles seems as still it will take more time to get fully implemented in the world; however, its demand is rapidly increasing.

Few economies are investing hefty amount in this Electric vehicle domain like China like in automotive companies such as FAW, SAIC, and BYD in the aggressive pursuit of a complete transitioning to electric power.

However, FAW is also looking forward to form a partnership as with an Italian electric vehicle startup in order to develop an all-electric hypercar. This Italy-based startup called the Silk EV is also looking forward to partner with the FAW-First Automobile Works in order to co-develop an ultra-luxury hypercar.

This hypercar will be developed and designed by the Silk EV along with a Chinese automaker by using its technical expertise as well as the financial muscle just to assist this startup company.

Moreover, the efforts to sell the EV in international markets are made by China whereas the development of these ultra-luxury hypercars will surely be a massive milestone for the EV products of the country for gaining its credibility in the market.

Mehjabeen Qasim
Mehjabeen Qasim
Business Journalist at Startup Pakistan

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