SAN JOSE, Calif.--(BUSINESS WIRE)--NextEV announced that it is investing in jobs in the state of California. On Thursday, June 16, 2016, a state board approved a $10 million tax credit for NextEV over the next four years. The California Competes Tax Credit program is to attract and grow business in California.
“We are building a team in San Jose and San Francisco and bringing in amazing talent to create a next-generation electric vehicle that will change the entire experience of owning and operating a car. With that, NextEV has promised to create more than 900 jobs in the state by 2020 in exchange for the tax credits, many of which will be in research and development. We thank the Governor’s Office of Business and Economic Development for helping us bring jobs to California,” stated Padmasree Warrior, CEO of NextEV US and Chief Development Officer of NextEV.
Senator, Bob Wieckowski, the chair of the Senate’s Environmental Quality Committee who represents the district where NextEV is located stated: “I was pleased to support NextEV’s application because it will lead to the acceleration of significant job growth and investment in Silicon Valley and throughout California. It will help support the state’s growing zero-emission transportation industry.”
ABOUT NextEV: NextEV is much more than a car company. NextEV designs and develops smart, high-performance, electric vehicles with an aim to be the first “User Enterprise” in the world. Our mission is to provide an enjoyable lifestyle for the users. NextEV smart electric vehicles promise to re-define the entire user-experience – delivering enjoyment beyond expectations.
NextEV has already recruited hundreds of world-class R&D and design experts from around the world with significant technology and management background from leading automobile and high tech conglomerates. William Li is the Founder and Chairman of NextEV, and Founder of BITAUTO, China’s largest automotive Internet company. Dr. Martin Leach is the President of NextEV. Before joining NextEV, Dr. Leach was the CEO of Maserati; President of Ford Europe; and Corporate Vice President and Managing Director for Mazda.
More information on NextEV can be found at www.nextev.com