Tencent, Sequoia China Invest In Chinese EV Firm WM Motor After Duo Backed Rival NIO

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Chinese tech giant Tencent Holdings Ltd. and Sequoia Capital China have invested in Chinese electric vehicle developer WM Motor, backing the second EV start-up in China for both investors. Tencent and Sequoia China previously invested in Chinese EV firm NIO, which is valued at US$2.9 billion.

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