Limited edition exotic is scheduled to make its debut in November

All-electric hypercars are popping up everywhere and it seems that even Chinese startups are getting in on the fun. The latest to join the craze is NextEV, a Chinese-based electric car maker that’s probably best known for fielding its own team in the Formula E championship. Now, the company is prepared to dive deep into the all-electric hypercar world with a model that will reportedly carry in excess of 1,360 horsepower.

Details about the car have yet to be revealed, but according to a source close to Electrek, its 1,360-horsepower output will help it sprint from 0 to 62 mph in less than three seconds. It also doesn’t have a name yet, although there’s no question that with its expected power and performance numbers, it’ll belong to a rarefied list of hypercars that include the Rimac Concept One S and the Koenigsegg One:1, among others.

An advanced design sketch of the car has also been released, showing an incredibly aggressive look that adds credence to its all-electric hypercar presentation. It certainly looks expensive, which is what I expect it to be given that it’s being touted to compete against million-dollar hypercars of similar status.

The good news is that NextEV isn’t your typical ambitious automotive startup that’s promising the world but has very little backing it up. The company is well funded by Chinese tech tycoons and the all-electric hypercar is just a part of a bigger and longer-term goal of producing mass-market EV cars. It also has a $465 million electric vehicle factory lined up as part of an agreement it made with the Nanjing Municipal Government in China and it features some experienced and influential people leading the charge, including former Cisco and Motorola CTO Padmasree Warrior and former Tesla executive Kurt Thywissen.

The all-electric hypercar is expected to be revealed in November 2016, at which point we expect more details to arrive about this intriguing project.

Continue after the jump to read the full story.

There’s reason to be excited for this one

Normally, I wouldn’t put too much stock on a startup automaker diving deep into supercar manufacturing, let alone going a step further into EV hypercar territory. History has not been favorable to these ambitious companies because they lack so many of the things that are required to build something as expensive as a million-dollar exotic.

But I don’t think NextEV can be considered part of that group. Sure, it fits the profile of a new company that’s looking to make an impression in the industry. But a few things about NextEV makes me confident that it could pull of building a high-priced, all-electric hypercar.

The first is money, and it’s got lots of it thanks in large part to support from private Chinese tech tycoons and the Chinese government. More than anything else, having deep pockets is crucial in seeing an ambitious plan like this push through. By all accounts, NextEV is in good position in that regard, thus allowing it to do all the research and development it needs to make sure that this hypercar gets off the ground.

The second is a long-term plan. According to Electrek, NextEV has a long-term strategy that’s geared towards making a splash with this hypercar before going into the meat of its business: mass-produced electric cars. It’s an unorthodox strategy, but given the company’s neophyte status in the industry, it just might work if it’s done properly.

Last but not least is leadership, which arguably is the most crucial part of NextEV’s business. Former Cisco and Motorola Chief Technical Officer Padmasree Warrior and former Tesla executive Kurt Thywissen are just two of the high-profile executives that NextEV has tapped. Something tells me that as the company gets its business off the ground, it’s going to hire more of them to take it to the next level.

Source: Electrek

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