WM Motor, once a darling of the capital markets, has collapsed after raising over 35 billion yuan in 11 funding rounds. Founded in 2015 by Shen Hui, who previously led Geely's acquisition of Volvo, the company quickly attracted investment from major players like Baidu, Sequoia Capital China, and Tencent. WM Motor's first mass-produced car, the EX5, launched in 2018 and achieved significant sales, even setting a record for a single funding round in 2020 with 10 billion yuan. AI
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RANK_REASON Significant funding round and subsequent collapse of a major automotive company.