SACRAMENTO, Calif. — The Board of Directors of California Competes approved $10 million in tax credits for a NextEV USA electric vehicle company, which promises to add more than 900 jobs in San Jose and San Francisco, the Mercury News reports.
It’s the third tax credit Gov. Jerry Brown’s Go-Biz board has approved in the hyper-competitive electric car market. It previously approved $15 million for Tesla and $10 million for Faraday Future.
NextEV attorney Paula Brown tells the board the company plans to begin selling its first commercial vehicles in China next year.
California jobs will be in research and development, many in engineering, but Brown says the company has not decided where to base its production. Contact NextEV USA for jobs here
The company’s website features its race car business, reporting that in the first season of the FIA Formula E Championship in 2014-15, all teams in the electric car series were working with a single-spec car equipped with a 200kw emotor, 5 ratio sequential gearbox and 28kwh battery pack. For the 2015-16 season, NEXTEV TCR is one of eight teams granted constructor status to run with an upgraded race car, incorporating a self-designed powertrain, comprising of an emotor, inverter and differential.
NextEV predicts the dual drive motor and one gear ratio will achieve better acceleration and efficiency, while no gear shifting in and out of corners has been designed to make the car smoother on the bumpy street circuits, with no power delay on acceleration.
READ MORE of this story at The Mercury News by Juliette Williams. Photo courtesy of NextEV USA.