Source: TechNode

Shun Tak: EV maker WM Motor to raise $500 million in Series D

Chinese electric vehicle maker WM Motor is about to close a $500 million Series D. The funding involves two rounds. The company is expected to receive a $300 million Series D1, led by PCCW, Hong Kong's biggest telecommunication firm headed by billionaire Richard Li. A Series D2 is expected to follow, bringing the raised fund to $500 million, according to a Tuesday statement. The six-year-old automaker, also backed by search engine giant Baidu, said it had cumulatively delivered over 70,000 vehicles as of the third quarter in 2021. [Company statement, in Chinese]

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$5.0-25M
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