Photographer: Krisztian Bocsi/Bloomberg

Volvo Veteran-Led China Electric-Car Maker WM Raises $1 Billion

  • WM Motor joins Chinese startups seeking to challenge Tesla
  • Ex-Geely executive targets 2018 introduction for first model

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.

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