Little-known Chinese electric car start-up Singulato Motors appears closer to building a cutting edge production plant, with the company expected to announce its raised about $600 million in a second fundraising push.

Co-founder and CEO of the Beijing-based company, Shen Haiyin, said his company has raised about $700 million in total, much of it from an investment fund run by the municipal government of Tongling City in Anhui province as part of a "strategic partnership".