Weltmeister Motor has recently closed its RMB 3 billion (around $450 million) Series C led by Baidu and followed by Shanxi Fanncial Holdings Group-affiliated Taihang industrial Fund and Linear Venture. The company claimed that it has raised at least CNY 23 billion (USD 3.4 billion) till now.
According to media reports the company plans to put investment primarily towards research and development (R & D) of an intelligent cockpit.
Chinese tech giant Baidu in December 2017 also had invested in WM Motor and has got a strategic partnership with the company to jointly develop on Level 3 autonomous driving solutions which will be mass produced by 2021. WM Motor has also joined Baidu’s self-driving open source platform Apollo a year ago.