Chinese Tesla Wannabe Pushes Ahead Despite Government Jam
- Startup founded by BMW executives targets first SUV in 2019
- Ten permits given to auto startups so far while others wait
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Future Mobility Corp., the Chinese electric-car maker founded by former BMW AG and Nissan Motor Co. executives, is sticking to a plan to sell its first model by late 2019, even as it faces a long bureaucratic wait to begin production.
It’ll probably take two years to get a manufacturing license to start making cars at a $1.7 billion factory in Nanjing, FMC Chief Executive Officer Carsten Breitfeld said in an interview in Munich. If necessary, the company will outsource production of its first sport utility vehicle.