![WM Motor](https://i0.wp.com/fintk2.com/wp-content/uploads/2016/08/WM-Motor-e1471620110565.jpg?resize=636%2C310&ssl=1)
Private investors have put $1 billion into an initial funding round for Chinese electric-car startup WM Motors, founder Freeman Shen said. The company plans to introduce its first car in 2018 and produce more than 100,000 vehicles a year within three years, he said.
Bloomberg (16 Aug.)