BEIJING (Reuters) – Baidu-backed
As enthusiasm builds for more climate-friendly vehicles, shares of EV makers, including Tesla Inc
Shanghai-based WM’s local rivals Li Auto Inc
Investors in WM’s latest funding round include Shanghai’s state-owned asset regulator’s investment firms and SAIC Motor . WM did not disclose its valuation after the funding.
The funding will help WM further develop intelligent vehicle technologies and expand sales channels. The company is eyeing a STAR board listing and has started preparing for it, sources familiar with the matter said.
(Reporting by Yilei Sun and Brenda Goh; Editing by Shounak Dasgupta)