Ron Burgundy Posted August 11, 2016 Share Posted August 11, 2016 By Norihiko Shirouzu SHANGHAI (Reuters) - It remains more promise than product, but the electric vehicle (EV) sector is drawing more talent from mainstream automakers which are reluctant to go full tilt at the new technology. One such 'defector' is Freeman Shen, who quit Chinese carmaker Geely two years ago to launch WM Motor, an EV start-up that aims to compete with Tesla Motors in China, the world's biggest autos market and one that encourages the new technology through policy and subsidies. While other Chinese EV start-ups including LeSee, NextEV, Future Mobility and Qiantu Motor are mostly backed by big internet groups such as Alibaba and Tencent, Shanghai-based WM Motor's funding, in the "billions of yuan", is from Chinese investors, but not technology tycoons or venture capital funds, says Shen. View the full article Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.