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In recent years, new vehicle builders have captured the attention of many in the industry. However, the level of each company remains unclear to most followers. To address this, the author evaluates these emerging automakers based on five key dimensions: vehicle development progress, capital operations, production qualifications, base investment, and planned production capacity. While product power is another crucial factor, it is difficult to quantify and thus not included in this analysis. It should be noted that all data presented here are based on publicly released information, and there may be minor discrepancies with actual conditions.
The radar chart above visually compares the five dimensions of various new car companies. Here's a brief explanation:
- **Vehicle Development Progress**: Reflects the status of mass production models.
- **Capital Operations**: Represents the total financing raised at the current stage.
- **Production Qualifications**: Indicates whether the company has obtained production permits and capacity.
- **Base Investment**: Shows the scale of investment in the company’s manufacturing base.
- **Planned Production Capacity**: Refers to the expected annual output after the base is completed.
Ai Chi Yi Wei (Aiways) is currently working on two product lines. One is a super sports car set to debut at the 2018 Beijing Auto Show, while the other is a model developed entirely on the MAS platform, expected to launch in the second half of 2019. Both models are still in development.
EPZ plans to produce its first product in Germany, while its domestically developed model will be manufactured at the Shangrao production base. The Shangrao project involves an investment of 10 billion yuan, with a planned annual production capacity of 150,000 units in each phase, totaling 300,000 units after both phases are completed.
In October 2017, Echevio Co-founder and CEO Gu Feng stated that the company had completed an angel round of RMB 1.2 billion in funding and was in the process of Series A financing, expected to close in Q1 2018.
FMC, known as "Byton" in Chinese, unveiled its first testable electric SUV prototype at CES 2018 and plans to launch the production model in 2019. The company also plans to release three models from the same platform by 2022.
FMC signed a strategic cooperation agreement with Nanjing Economic and Technological Development Zone, investing 11.07 billion yuan to build a high-end smart electric vehicle manufacturing base. The facility will eventually reach an annual production capacity of 300,000 vehicles.
FMC completed an A-round financing of $47.14 million in December 2016 and secured a $200 million investment in August 2017.
Car and Home is planning two models: SEV (a compact electric car) and SUV. The SEV will launch in H1 2018, while the SUV will follow in 2019. The company built its own factories but obtained production qualifications through a partnership with Huachen Group.
Car and Home has raised over 2.755 billion yuan through multiple funding rounds, including a B-round of 3-4 billion yuan.
Electric Coffee Car (Dianke) launched its EV10 model at the Guangzhou Auto Show in 2017. The company signed a cooperation agreement for a production base in Shaoxing, with a total investment of 5.5 billion yuan and a planned annual capacity of 180,000 units.
Electric Coffee Car received hundreds of millions in angel funding, though details remain undisclosed.
NEVS (National Energy Vehicle Sweden) rolled out its first model, 9-3EV, in December 2017, with mass production scheduled for June 2018. Its Tianjin plant, with a total capacity of 270,000 units, officially started production in December.
Zero Motors launched its first model, the Zero S, in November 2017, targeting a 2018 launch. The Jinhua factory, with an investment of 2.5 billion yuan, is expected to complete construction by 2018, though it has yet to obtain production qualifications.
Zero Motors completed a Pre-A round led by Sequoia Capital China Fund.
Singularity Automotive launched the iS6 Preview in April 2017, with small-batch production planned for 2017 and a full launch in 2018. The company secured 700 million USD in total funding.
Future Car (Weilai) introduced the K50 at the 2016 Beijing Auto Show. The Suzhou factory began equipment debugging and is expected to start trial production in December 2017.
Weimar Automobile debuted its EX5 electric SUV at the 2017 Beijing Auto Show, with plans to launch it in 2018. The company invested 10.5 billion yuan in its Wenzhou factory, aiming for an annual capacity of 100,000 units.
Weilai (NIO) launched the EP9, a high-performance electric supercar, and the ES8, an SUV priced between 448,000 and 548,000 yuan. The company plans to launch a new model annually from 2018 to 2022.
Xiaopeng Motor launched the Beat model and partnered with Haima for OEM production. The 2.0 version of the car debuted at CES 2018. Xiaopeng plans to raise 5 billion yuan in 2018.
Ranger Motor announced that its YOUUXIAX1 electric vehicle will begin mass production in 2018, with availability in 2019. The Huzhou factory, with a total investment of 11.5 billion yuan, will eventually reach a capacity of 300,000 units.
Cloud Car (Yundu) launched its first model, Yundu π1, in October 2017. The company became one of the few to receive approval for new energy vehicle production and plans to raise funds to support market entry.
September 17, 2025