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ZTE joining the party with plans to enter the electric vehicle market
- Wednesday | 3rd March, 2021
SHENZHEN, China (Reuters) – Telecoms equipment maker ZTE Corp is joining a number of Chinese technology companies entering the electric vehicle market as it looks to build a team for a new product line, a company spokeswoman told Reuters. The Shenzhen-based company did not say whether the product line will supply parts for partner companies, or whether the company would be producing its own branded vehicles. Chinese technology firms have been stepping up their focus on electric vehicles (EVs) in the world’s biggest car market, as Beijing promotes greener vehicles as a means of reducing air pollution. Asian technology companies, including Baidu, have announced plans to make their own cars, while Shenzhen-based dronemaker DJI is building an engineering team to work on self-driving technologies. Industry forecasts put China’s NEV sales at 1.8 million units this year, up from about 1.3 million in 2020.
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