Tesla challenger in China to market 700,000-yuan electric roadster

One of China's biggest homegrown automotive design companies is taking the plunge into producing its own electric roadster, seeking to stand out from other Chinese electric vehicle startups by making a car with materials found more commonly in business jets and yachts.Qiantu Motor, set up by car design company Beijing CH-Auto Technology Co., is building a factory in the eastern city of Suzhou to produce an electric car with a carbon-fiber body and aluminum frame, Chairman Lu Qun said in an interview.The K50 sports car will debut next year with a starting price of 700,000 yuan ($106,600), he said, comparable to Tesla's Model S, which is made of aluminum. The price is about a third of the BMW i8, which features a carbon-fiber body."We are learning from Tesla as well as all the other electric carmakers," said Lu, 48, a former Jeep engineer who left Beijing Jeep Corp. in 2003 with some colleagues to start Beijing CH-Auto. "We are aiming at building high-performance cars, and there's no other option but to build our own factory, because there isn't a plant in China that has a carbon-fiber molding workshop."Tesla sold 3,025 Model S and Model X cars in China in the first nine months of 2015, though the Palo Alto, Calif., electric carmaker would like to be a far bigger player in that market.Qiantu's success ultimately will depend on marketing and reputation, according to Steve Man, a Hong Kong-based analyst for the auto industry at Bloomberg Intelligence. "It will take a lot of patience and capital to build a consumer standing that is time-tested," he said. "Let's see if it has staying power."Other aspirants

Tesla challenger in China to market 700,000-yuan electric roadster

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