Baidu is in talks to provide half the funding in the prospective round while another of the EV producer's existing investors, Tencent, could also take part.
China-based electric vehicle developer WM Motor Technology has begun talks with investors including internet group Baidu to raise RMB2bn ($287m), Reuters has reported, citing two undisclosed sources.
The round is set to value WM at more than RMB20bn and will include fellow internet company Tencent. Baidu currently appears likely to lead the round with a RMB1bn investment, according to one source, though WM told Reuters it is in fact targeting a RMB3bn raise.
WM launched its first model, the EX5…
