WM Motor Raises USD447 Million in Series C Round Led by Baidu

Source(s): TechNode | Author(s): Jill Shen

China-based electric vehicle manufacturer Weltmeister Motor (WM Motor) has raised CNY3 billion (approximately USD447 million) in a Series C round led by Baidu, a China-based internet company. China-focused venture capital firm Linear Venture and government-backed asset management company Taihang Industrial Fund also invested in the round. WM Motor plans to use the new capital for the research and development of autonomous driving capabilities and passenger experience upgrades, including the creation of an intelligent cockpit component.