Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Chinese Version   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home >> Suppliers Email this story   Print this story
SF Motors' headquarters in California
Chinese-funded EV startup buys tech firm headed by former Tesla exec
Reuters | 2017/10/20

BEIJING -- SF Motors Inc., a California electric vehicle unit of China's Chongqing Sokon Industry Group, said Thursday it has bought an EV and battery tech firm headed by former Tesla Inc. executive Martin Eberhard for $33 million (218 million yuan).

The acquired company, InEVit Inc., will become a wholly owned subsidiary of SF Motors, one of an array of Chinese-funded EV startups in China and the United States.

InEVit will continue to operate as a standalone technology firm licensing EV and battery know-how to global automakers. Eberhard, who has worked with SF Motors as an advisor, will become SF Motors' chief innovation officer and vice chairman of the board.

"In this new role, Eberhard will primarily focus on technology innovation, product development, product positioning and branding C all with the goal of helping SF Motors meet global EV demands," SF Motors said in a statement.

"InEVit's expertise, patented technologies and manufacturing techniques will be leveraged to help SF Motors to rapidly and profitably scale e-powertrain production for its own future products, and will look to license this technology to other automakers to help speed zero emission vehicle proliferation across the industry."

SF Motors is the latest Chinese-funded firm to join a boom in EV development.

Established by Sokon Industry, a small automaker in Chongqing producing low-cost micro commercial vans, SF Motors recently established a U.S. r&d center in Silicon Valley and an r&d branch in Ann Arbor, Michigan, as well as branches in Germany, Japan and China.

Sokon Industry also produces and sells crossovers and SUVs.

Related Stories
  • China's EV market: Dispelling the myths
  •     --Published:2019/12/2
  • China's Arcfox to introduce next-gen crossover concept in Geneva
  •     --Published:2019/8/2
  • Koenigsegg teams with Saab successor to go electric
  •     --Published:2019/1/2
  • Evergrande Health takes 1.06B yuan stake in Chinese auto battery maker
  •     --Published:2019/29/1
  • Didi, BAIC form joint venture to work on green-vehicle projects
  •     --Published:2019/29/1
  • BP invests in Chinese electric vehicle charging platform
  •     --Published:2019/25/1
  • Germany backs r&d center for EV battery technology to rival Asia producers
  •     --Published:2019/25/1
  • Inside VW's blueprint to meet Beijing's quotas for EV output
  •     --Published:2019/25/1
  • Mercedes-Benz to deepen ties with Chinese auto suppliers
  •     --Published:2019/24/1
  • EV startup Byton opens store in Shanghai
  •     --Published:2019/22/1
  • Magna opens engineering joint venture with BAIC's EV unit
  •     --Published:2019/18/1
  • Everybody wants to be the next Elon Musk (at least in China)
  •     --Published:2019/18/1
  • Who is buying EVs in China?
  •     --Published:2019/18/1
  • EV startup Nio delivers more than 11,000 vehicles since late June
  •     --Published:2019/18/1

    Our Newsletter Editions
    Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

    Select your newsletter     


    Automotive News China
    Room 1303, Building 2, Lane 99, South Hongcao Road,
    Shanghai 200233
    Telephone: 86-139-1851-5816
    Fax: 86-21-6495-0895
    Home | Help Center | About Us | Privacy Policy | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.