The EV with perhaps the widest grin around - LeEco's LeSee electric sports car - is a billion steps closer to reality. The Chinese company behind the LeEco, Le Holdings, has announced it has raised over a billion dollars ($1.08 billion, to be precise) from Chinese investors. This isn't the only blizzard of money headed to the Chinese electric vehicle scene. Last month, WM Motor raised a cool billion in order to start building vehicles in 2018, with a target of up to 100,000 units a year by 2021.

The LeSee has a number of autonomous driving features, like the ability to self-park based on commands from a cell phone (see the video here). Last month, LeEco said it would build a $1.8 billion factory to make its electric vehicles as well as vehicles from it's strategic partners, like Faraday Future.

All these moves come at a time when the expected market for plug-in vehicles in China is growing fast. The country is expected to sell perhaps 300,000 EVs this year, for example, and that number will only grow in the future with continued government support.

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