Elec­tric-car maker WMraises $1b

China Daily (Canada) - - BUSINESS -

A for­mer top ex­ec­u­tive be­hind China’s big­gest ac­qui­si­tion of an over­seas car­maker is set­ting out to make his­tory twice, rais­ing $1 bil­lion in an ini­tial fundrais­ing round as the lat­est home­grown elec­tric ve­hi­cle startup to chal­lenge Tesla Mo­tors Inc. Free­man Shen left Volvo Cars owner Zhe­jiang GeelyHold­ing Group Co in 2014 and last year founded WMMo­tor, which he said has se­cured fund­ing. WM­plans to in­tro­duce its first model in

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