China’s LeEco raises $1.08B to build its electric sports car

The Chinese market for electric vehicles is hot, and the latest indicator is a $1.08 billion raise from China’s LeEco, a Beijing-based web video company (which now dabbles in everything from televisions to transportation) that’s targeting Tesla with its own electric sports car plans. Funding for its first car is coming from Legend Holdings Corp., Yingda Capital Management Co.… Read More...