Top
image credit: Pixabay

EV startup WM Motor raises $1.5 billion

September 22, 2020

Baidu-backed Chinese electric vehicle EV startup WM Motor said Tuesday it has raised 10 billion yuan ($1.47 billion) in its latest funding round.

Shares of EV makers, including Tesla Inc. and Nio Inc., have surged in recent months and automakers are looking to the markets for funds.

Shanghai-based WM’s local rivals Li Auto Inc. and Xpeng Inc. are listed in New York.

Read More on Automotive News