Chery Automobile, China’s largest domestic car maker, is preparing to launch its electric cars in the US by the end of next year after working with a local venture capital (VC) firm backed by NEA.
Cybernaut (China) Investment, a VC set up by serial entrepreneur Min Zhu after he had worked at NEA as a venture partner, will work with Chery to bring three types of electric cars to the US, according to local news provider People’s Daily.
Yuan Tao, general manager of Chery’s new energy vehicle branch, told the People’s Daily: "If everything goes smoothly, the trial operation of Chery’s S18 electric cars [pictured] will start in the United States by the end of 2011."