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REUTERS/Aly Song More By Jake Spring and Norihiko Shirouzu SHANGHAI (Reuters) – Of dozens of startup electric car makers in China, only two or three will be around in five years’ time, the chief of Nio told Reuters on Thursday, after the automaker unveiled its first production car aimed at taking on Tesla Inc’s Model X. China’s government has been promoting electric vehicles in its battle with urban smog, with startups flooding the market after it opened up the sector to investment from technology firms and non-automotive backers. “A car business is the world’s toughest business to start,” Chairman William Li said in Chinese on the sidelines of the Shanghai auto show. “If you look in five years, there won’t be more than two or three companies reaching the minimum level of sales needed.” Nio, formerly NextEV, has lined its coffers with big-name investors, recently closing a second round of funding led by tech firms Tencent Holdings Ltd and Baidu Inc, Li said. He declined to state the size of investment or the automaker’s valuation. The company now has nearly 40 investors, expanding its backers from five or six early founding investors, he said. Nio unveiled its first mass production car on Wednesday at the Shanghai show – the ES8 pure-electric, seven-seat sport-utility vehicle. The model is set to go on sale next year with more features than the Tesla Model X at a lower price, Li said. He said there is an opportunity for Nio to succeed by focusing only on electric cars and offering better service and digital functionality, areas where traditional car makers have difficulty.

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are permitted (about half the size of a typical new construction home), providing an alternative to a condominium. The cottage zoning offers the best of both worlds, adds Burmester. We provide the independence and pride of ownership of a single family home on a lot you own but also the lock and leave lifestyle that are so popular with condominiums, but without the high HOA dues or homogeneous floor plan limitations. Unlike the commodity of a condominium, Burmester notes that each of the nine cottages were named after trees found on the one acre property and in fact, numerous elements of the former, century old farmhouse were incorporated into the final homes. While paying homage to a historic past, The Juanita Farmhouse Cottages are futureproof, including the latest in high-tech amenities such as standard electric vehicle charging stations in the garages. A centralized common area includes a guesthouse for nightly rentals and a great room for social gatherings, while a neighborhood pea patch and outdoor amenities foster a sense of community. The new development is within walking distance of the Juanita Village, home to a regional shopping center for residential services and lifestyle retail and restaurants, while the nearby Juanita Beach provides access to Lake Washington. The City of Kirkland is one of the fastest-growing areas in the Puget Sound and home to substantial employers including a large Google campusas well as a new facility for Tableau, which is under construction at. Kirkland Urban ; a new development in the heart of Kirkland which will feature 390,000-square feet of Class-A office space, 140,000-square feet of retail, 185 apartments, and 1,700 parking spaces. An abundance of jobs and an enviable, more village-like lifestyle has made the City of Kirkland and its many lakeside neighborhoods among the most popular and a preferred alternative to the high-rise living and greater density in the City of Bellevue. Kirkland was recognized as a Top Neighborhood to Live by Fundreds and Niche in 2017 and has experienced median home price increases of for the first quarter of 2017, year-over-year, according to the Northwest Multiple Listing Service. With new construction properties boasting a median asking price of about $977,000, market experts believe The Juanita Farmhouse Cottages provides attainable price points and a lower threshold to own when compared with the surrounding area.

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