Auto firm has metaverse plans for expensive EV.com domain

TEDA purchased EV.com and plans to develop a metaverse for electronic vehicles.

A firm with offices in Canada and China has big plans following spending a lot of money to acquire the valuable domain name EV.com.

TEDA International Auto Group wouldn’t verify the exact price it paid for the domain but told Reglike that it was most recently listed for $8.5 million. It stated the deal was all cash, although I can’t independently verify that. It’s a safe bet that this was a seven figure transaction.

The firm, which right now trades luxury cars and offers auto financing, has big plans for the domain. As the name suggests, it will focus on electronic vehicles. This includes sales and car subscriptions without multi-year contracts. It hopes to extend beyond just cars as battery technology expands.

It also plans to make this a metaverse play, and the use case here is compelling. Essentially, it wants to make it possible for dealers and automakers to build virtual showrooms in a metaverse.

TEDA bought instant credibility with its domain name, which ought to help it launch and gain partners in an increasingly crowded field.