RTTNews | Jan 21, 2022 06:44AM EST

06:43 Friday, January 21, 2022 (RTTNews.com) - TuanChe Limited (TC), a provider integrated marketing solutions and virtual dealership services in China, on Friday unveiled its preliminary plan to enter electric vehicle or EV business.

Wei Wen, CEO of TuanChe, said in a statement, "TuanChe decided to enter the EV market after repeated discussions and careful feasibility studies. We are confident that we will be able to seize the opportunities and establish ourselves in the EV market by leveraging our own advantages, cooperating closely with our partners and learning the lessons from industry pioneers."

According to its preliminary plans, the Chinese firm aims to launch two EV models within three years and to sell 100,000 vehicles. The estimated price for its first EV model will be in the range of RMB100, 000 - RMB200, 000.

The latest decision from the company has come at a time when the market for renewable energy vehicles continues to boom in China, where there is still unmet consumer demand.

TuanChe believes that there is still a two-year window for new players to jump on the EV bandwagon.

Read the original article on RTTNews ( https://www.rttnews.com/3256440/tuanche-unveils-to-enter-electric-vehicle-business-in-china.aspx)

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