Baidu, Tencent and China Minmetals-backed electric vehicle producer WM Motor has raised $1.47bn in a series D round to support R&D, marketing and sales activities.

WM Motor, a China-based electric carmaker backed by corporates Baidu, China Minmetals and Tencent, raised RMB10bn ($1.47bn) in a series D round today co-led by automotive manufacturer SAIC Motor, according to TechCrunch.

An unnamed state-owned investment company co-led the round. A report from The Paper last week said Shanghai Automotive Industry, the parent company of automotive manufacturer SAIC Motor, had invested $73.1m.

WM Motor sells smart electric vehicles with features such as autonomous driving and connected electronics systems. It…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
Email LinkedIn