State-Owned Automaker BAIC Invests In Silicon Valley’s Atieva As China Rides The Electric Vehicle Wave

It has been a popular year for Chinese companies announcing plans to develop electric vehicles, and the spree has continues.

Chinese state-owned automaker BAIC Motor Corp, announced an R&D centre in Silicon Valley yesterday. They also revealed that they have taken on a majority stake of California-based electric car maker Atieva, and will begin developing electric cars, and later, self-driving cars.

Atieva was co-founded in 2007 by former Tesla executive Bernard Tse. The company is based in Silicon Valley’s Menlo Park. BAIC’s new research and development operations will be run at a separate centre that is currently employing 20 staff.

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