Separate the BATT- from MOTOR- ( electronic circuits like to switch or act on the (-) for some reason).
Power the relay coils from BATT+ instead of PWM+.
Yeah, it looks weird at first glance.
With both relay's OFF both motor leads are connected to PWM- so nothing happens.
With UP relay ON the red motor lead goes PWM+ while black motor wires stays PWM- and motor spins.
With DOWN relay ON red motor wire remains PWM- and black motor wire goes PWM+.

CAUTION: I don't know how the PWM will like having the motor load switched or removed while it's on.