Intellasia East Asia News - WM Motor Secures US$152 Million Series D2 Financing Led by Agile Group
Summary
Raising a total of US$457 million in Series D1 and D2 SHANGHAI and HONG KONG, Dec. 1, 2021 /PRNewswire/ -- WM Motor Holdings Limited ("WM Motor," the "Group" or the "Company"), a dominant smart EV player in Chinas mainstream market, today announced a Series D2 financing of US$152 million led by Agile Group Holdings Limited ("Agile"), an integrated conglomerate specializing in property development and management in China. This brings WM Motors total capital raised in the fourth quarter of 2021 to US$457 million, representing the largest investment towards the mainland China smart EV companies during the past 12 months. WM Motor focuses on designing and manufacturing vehicles for the largest and fastest growing segment of Chinas smart EV market and is recognized as one of the most popular brands among tech savvy young families. WM Motor operates two fully self-owned and highly automated factories, enabling the Company to seamlessly integrate in-house research and development and manufacturing, which lays the foundation for the utmost safety and reliability of vehicles delivered. To learn more about WM Motor, please visit Founded in 1992, Agile is an integrated conglomerate specializing in property development and management with an extensive presence in a diversified range of businesses.