Chinese Billionaire Jia Yueting plans Electric Car Industry Takeover

23 August 2016

Meet Chinese Billionaire Jia Yueting – The New Face of the Electric Car Industry

Have you heard of Chinese Billionaire Jia Yueting? Yueting was a government IT clerk at a small tax office before founding his internet television company Leshi TV. Now worth upwards of $3.2 Billion and with his sights set on American, Yueting plans to make waves in a new industry.

Elon Musk and his Tesla Motors company are the clear industry leaders in electric cars. With models on the road and big plans for the next five years, it seems like Tesla will remain an industry leader. That is, unless Jia Yueting can get involved.

Jia Yueting is trying to secure a foothold in the United States for his electric car company known as Faraday. You may recognize the namesake. Michael Faraday was an English scientist who studied electricity and magnets. It seems like Yueting is ready to fight for control of the electric car industry.

What could prevent Yueting from succeeding? China’s stock market is a barrier, because of its volatility. Authorities in the USA are afraid of Yueting financing his factory through private lending, which could go up in smoke if Chinese markets go down. As a result, Yueting has already invested $300M of his own cash into the company.

Billionaire Jia Yueting - Discussing his New Company
Jia Yueting discussing his New Company | celebritynetworth.com

Billionaire Jia Yueting has plenty of business skills. His technical background in IT and communication skills make him an excellent visionary and leader.

Billionaire Jia Yueting - Faraday Concept Car
Faraday Concept Car | REUTERS Damir Sagolj

This is a very early concept car for Faraday. As a result, you can see the lines but not many features are present yet. It seems like a sleek design with smooth, rounded edges. So, can you picture yourself driving a Faraday electric car?

Billionaire Jia Yueting - Bat Mobile Concept Car
Bat Mobile | businessinsider.com

Faraday’s most recent car looks rather like the Batmobile. This is due to the sleek lines and cockpit style cabin. Would you feel like Christian Bale driving in this?

Billionaire Jia Yueting - In the Driver's Seat
In the Driver’s Seat | youtube.com

When it comes to the electric car industry, Billionaire Jia Yueting is one step away from being in the driver’s seat. His promise to deliver a 1000hp electric car has people excited. So, do you think he can he get funding and grants to make his dream a reality? Can anybody beat Elon Musk and Tesla at their own game? Let us know in the comments or on social media.

Read more about Jia’s takeover plans on Business Insider.

Curious about how Tesla is staying ahead of the curve? Click here to check out their wireless charging device for electric cars.