WM Motors' Co-founder Resigns as the EV Maker Plans Star Market IPO
COVID-19 and China
WM Motor showroom. Image credit: WM Motor

Chinese media platform auto-time learned exclusively from several people familiar with the matter that the co-founder of WM Motor, Lobo Lu known as Lu Bin (陆斌) locally, has stepped down. Upon being asked the PR department of WM Motor said that the resignation was due to personal reasons and that the company is grateful for his contribution throughout the years. 

Lobo Lu and founder Freeman Shen co-founded WM Motor back in 2015. Lu was in charge of strategic planning and execution and established business systems such as product planning, marketing, sales channels, customer management, public relations, after-sales support, and travel services.

Prior to WM Motor, Lu served as the deputy general manager of the sales company of Geely, mainly researching user needs, brand and market planning, and responsible for the implementation of the company's new brand strategy.

To date, WM Motor has completed six rounds of financing of which the total amount racks up to a staggering CNY 17 billion. The company was backed by Baidu in its latest C+ round worth CNY 3 billion. According to Bloomberg, the EV-maker is planning to land on the star market as soon as the end of this year.

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