Electric vehicle manufacturer WM-Motor has closed its Rmb3 billion $446 million Series C round of funding.
Tech giant Baidu led the round, together with Shanxi Financial Holding Group and Linear Venture.
WM-Motor has accumulated Rmb23 billion in funding so far from a blue chip list of investors that include Tencent, SIG and Sequoia, as well as Baidu. The startup has also been able to attract talents like Rupert Mitchell, the former co-head of Asia-Pacific equity syndicate at Goldman Sachs, to be its chief strategy officer.
Baidu said that it wanted to apply its autonomous driving technology to WM’s vehicles...
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