Chinese EV industry is definitely booming which keeps attracting investors from all walks. Wang Xing, the co-founder and CEO of Chinese pioneering lifestyle application Meituan, is leading a $500 million round followed by various existing funders including Matrix Partners, Shougang Fund, and Bluerun Ventures to the smart electric car brand Leading Ideal. China for now is the largest market for alternative energy vehicles and has enormous potential to grow, with an impressive annual shipment of 400 thousand automobiles last year simply by the industrial leader BYD.
