EV startups face uncertain times as funding dwindles for China's Tesla challengers

FAW, China’s third-largest automaker, is scheduled to sign an agreement within weeks to inject about $100 million into the car maker, said sources.

Dozens of global EV startups have raised $18 billion since 2011, including China's big fundraisers NIO, WM Motor, Xpeng Motors and Youxia Motors.