Top stories of WM Motor in 2021

Chinese EV startup WM Motor delivered 44,157 new vehicles in 2021, representing a year-on-year leap of 96.3%. Notably, its quarterly deliveries reached a record high of 15,114 units in the fourth quarter of last year.

Looking back at the past year, we can see that the startup made significant progress in financing and launch of new products.

Photo credit: WM Motor

WM Motor, China Unicom's Shanghai unit to team up on industrial Internet, 5G application

WM Motor and China Unicom's Shanghai branch entered into an agreement in early December for the strategic collaboration on industrial Internet, 5G-enabled applications, cloud service, and other fields related to digital transition for enterprises.

WM Motor nabs $152 million in D2 round financing

WM Motor announced on Dec. 1 it banked $152 million in a Series D2 round that was led by Chinese property developer Agile.

According to the automaker, the fresh funding raised $140 million from the leading investor Agile, while also attracted the firms like Brocade River Merchants Capital Limited as financial consultants.

WM Motor begins 'SUV & sedan' strategy with launch of M7 sedan

WM Motor launched its first sedan model, the M7, on Oct. 22, indicating that the Chinese EV startup formally began its two-pronged product deployment integrating both SUVs and cars.

The M7 all-electric sedan is expected for mass production and scale delivery in 2022, according to the company.

WM Motor expects to raise $300 million in Series D1 financing

WM Motor Holdings Limited announced on October 5 that it expected to raise over US$300 million in Series D1 funding round, with another US$200 million coming in Series D2 round.

The D1 round was led by PCCW Limited ("PCCW") and Shun Tak Holdings Limited ("Shun Tak Holdings"), and participated by other investors including the US dollar investment arm of Guangfa Xinde Investment Management Co., LTD.

WM Motor starts delivering third production model W6 at Auto Shanghai 2021

At the Auto Shanghai 2021, WM Motor showcased all of its key models, including the EX5-Z and the concept model of its first all-electric sedan's mass-production-ready version. However, the biggest move was still the announcement of starting the delivery of the W6, the company's third production model hitting the market on April 16.

WM Motor gets 11.5 billion yuan credit line

WM Motor said on Feb. 9 it formed strategic partnerships with a number of banks and financial institutes for a line of credit worth 11.5 billion yuan ($1.808 billion).

WM Motor's new SUV co-developed with Baidu comes off production line

The W6, a full-electric SUV model jointly developed by WM Motor and Baidu, rolled off the assembly line on Jan. 19 at the startups' Hubei manufacturing base and is expected for delivery at the Auto China 2021, according to a press release.