Former BMW exec Carsten Breitfeld is new CEO of Hon Hai, Tencent electric car venture

Photo: Reuters

A former BMW AG executive will lead the electric car joint venture of Taiwan’s Hon Hai Precision Industry Co Ltd, China’s Tencent Holdings Ltd and China Harmony Auto Holding Ltd, the company said on Monday.

Carsten Breitfeld, who according to his LinkedIn profile was until recently a BMW vice president for development of the i8 hybrid sports car, will become chief executive officer of Harmony Futeng Internet and Intelligent Electric Vehicle Company, it said in a statement.

Harmony Futeng, launched last March, is one of several Chinese tech companies trying to develop “smart” and electric vehicles. These include Alibaba Group Holding Ltd, Baidu Inc and Leshi Internet Information and Technology Corp Beijing, recently rebranded as LeEco.

Harmony Futeng said Daniel Kirchert, a former Nissan Motor Co Ltd executive, will join as chief operating officer. Previously, Kirchert headed Nissan’s Infiniti joint venture in China with Dongfeng Motor Corp and before that he was with BMW’s joint venture with Brilliance China Automotive Holdings Ltd.

China’s government is promoting electric vehicles to cut the smog that frequently envelops cities, helping sales quadruple last year and turning it into the world’s biggest market, according to officials. Less than 1 percent of passenger cars now run on so-called new energy.

China’s government predicts production of electric and plug-in hybrid vehicles will grow almost six times to 2 million annually by 2020.

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Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.