Chinese electric car startup CHJ Automotive will build up a strong research and development team in the United States by the end of this year to beef up work on self-driving technologies, company CEO Li Xiang said on Tuesday.
The plan came shortly after CHJ raised 3 billion yuan ($476 million) in its series B round of fundraising in March and announced plans to set up a joint venture with Didi Chuxing, China's largest ride-hailing company, to produce smart electric cars.
The company is one of a growing number of players to march into the burgeoning smart vehicle market, motivated by favorable government policies and local consumers' growing demand.
CHJ has an auto factory in Changzhou, Jiangsu province, where the production capacity will hit 200,000 vehicles a year when completed.
China overtook the United States in 2015 as the world's largest market for new energy cars. Now, the country has at least 1.6 million such vehicles on the roads.
The Ministry of Industry and Information Technology, China's top industry regulator, also unveiled fresh polices to boost the development of new energy cars, as the country is eager to combat air pollution and reduce its dependence on imported oil.
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