Weltmeister Motor closed RMB10 billion D-round financing

TechJack Breaking News: (Weltmeister Motor) WM Motor announced that it had completed a D round of financing totaling 10 billion yuan, which is also the largest single round of financing in the history of new automakers.

This round of financing was jointly led by Shanghai State-owned Investment Platform and SAIC. Baidu and Haina Asia Venture Capital Fund (SIG) continue to participate in this round of financing. Other investors include Hubei Changjiang Industrial Fund, Suzhou Kunshan Industrial Fund, Hunan Hengyang State-owned investment platforms, Anhui Hefei Industrial Fund, SDIC Venture Industry Fund, Guangzhou Financial Holding Group and other state-owned industrial investors, as well as powerful investment institutions such as Xinxin, Ziguang, Hongta Group, Agile, and Yingke, will mainly use the funds raised Intelligent technology research and development, brand building, digital marketing and channel expansion, etc.

Shen Hui, the founder, chairman and CEO of WM Motor, said: "The completion of the D round of financing reflects investors’ optimism about the prospects of the smart new energy vehicle industry, and the company’s technological innovation positioning, long-term development strategy, and outstanding The core team of the company, leading-edge technology in the industry, and a high degree of recognition of the core value concept of “inclusive technology and detonating the mainstream”. Participating in this round of financing are all powerful players in various fields, and they are all willing to work with WM Motor for a long time Value investor for development."

From the current shareholder list of WM Motor, it can be said that it has become the most diversified investor lineup among the "new car-making forces", including Internet giants such as Baidu and Tencent; first-tier VCs such as Sequoia China and SIG; Shanghai and Kunshan , Hubei, Hunan, Hefei and other places; and “national teams” such as the National Research Fund.

Therefore, from the perspective of the investor’s business empowerment, these powerful investors who support the development of the real economy and science and technology enterprises not only inject “live water” into the development of v Motors, but also actively engage in strategic synergy with WM Motor. Cooperation can undoubtedly create more and better landing scenarios for WM Motor including the rapid mass production of forward-looking technologies such as 5G technology, autonomous driving, and three-electric systems.

At the Baidu World Conference held on the 15th of this month, in the Baidu Apollo Autonomous Driving Sub-forum, WM Motor once again announced the launch of pre-sales of models with L4 autonomous driving capabilities launched by Baidu Apollo. Users can start on the official website. Place an order, and deliveries will begin in April 2021.

Weimar said that after the completion of the D round of financing, WM Motor will strengthen its investment in intelligent technology research and development, brand building, digital marketing and channel expansion.

In terms of technology research and development, WM Motor stated that in the next 3-5 years, it will gather 3,000 top engineers around the world to quickly apply forward-looking technology to mass-produced products and services at mainstream prices, and manufacture products that meet the needs of Chinese users and the actual road conditions in China. , Intelligent travel terminals with the ability to interconnect everything, forming a "people-vehicle-environment" intelligent technology ecosystem, providing users with a safer, more efficient, more convenient and more fun new way of intelligent travel.

In terms of brand building and channel expansion, WM Motor stated that it will accelerate the "Thousands of Cities and Thousands of Stores" plan to allow brands to directly reach users. In August, WM Motor added 30 stores nationwide, and the number of stores opened this year has reached 94.

In terms of car sales, WM Motor also performed well, with August sales of 2,057 units, a year-on-year increase of 143%, achieving "six consecutive growth" month-on-month.

In terms of product planning, WM Motor has completed the delivery of two models, EX5 and EX6. Officials have revealed the next new model plan. From the second half of this year to 2021, Weimar Motors will launch two SUVs and one At the same time, the new car will be equipped with "new automatic driving" and 5G technology, among which "the cruising range of car products can reach 800km".

It is worth noting that since the beginning of this year, the head benefits of new car-making forces have become more concentrated. With the successful listing of NIO, LiXiang, and Xiaopeng in the United States, WM Motor’ landing on the Science and Technology Innovation Board is also on the line. With the completion of the D round of financing, Weimar Motors is expected to become the first new car maker to land on the Science and Technology Innovation Board.