The Chinese electric car start-up Singulato Motors is expected it raised around 600 million dollar in a second fundraising. Chinese electric car start-ups are booming due to the raise of new funds because the Chinese government grants subsidies and favourable policies. China has made making smart and connected electric cars a priority. It sees the sector as a way to become a global competitor and even overtake established global automakers. Furthermore, entry barriers are relatively low.
The Economic TimesWhy not share this article?
