WM MOTORS ELECTRIC VEHICLES
The WM Motors electric vehicle strategy is to build a range of affordable mass market connected EVs. WM Motors founded in 2016 and not to be confused with a USA company by the same name, is headquartered in Shanghai with its assembly plant in Oujiangkou District, Wenzhou City in Zhejiang Province. The 50,000 unit plant is to start operating in 2018 and is constructed on a 165-acre site and will scale to 100,000 units in 2022. Although WM Motors, short for Weltmeister (World Champion) is German it is a 100% Chinese owned company. Weltmeister’s Chinese name, Weima, has a different meaning – powerful horse. The Chinese start-up was founded by Geely executive in charge of Volvo in China, Freeman Shen who raised over $1 billion making it a Chinese Unicorn ( a term for start-ups with a value of over $1 billion ). WM Motors plans to bring four models to life, all based on a single platform, named PL2. No data has been released on the platform but the company aims to build an SUV with a range of 450km at a price of $30,000 (200,000 yuan). The SUV will be followed by a new model every 12 months up to 2025.
WM Motors which is sometimes named the Tesla of China has been criticized by some industry observers for copying other cars such as the Mitsubishi Outlander, in the design process, a claim the company has vehemently denied. WM Motors have various cooperation agreements for the development of its EVs. On the hardware side it has partnered with various German technology companies such as Siemens, Bosch and since August 2017 with Isdera. On the tech side, it has agreements with Chinese tech and communications companies such as Huawei and China Unicom.
WM MOTORS EV MODELS
WM MOTORS WAGON
WM MOTORS EV SALES
Go to our detailed breakdown of Global EV Sales to see how the WM Motors electric car strategy fares to its competitors in the fast-growing EV market.
WM MOTORS ELECTRIC CARS IN THE NEWS
Week 14 2018 - First Weima EX5 produced
Week 50 2017 - WM Motors unveils its EV brand Weltmeister
Last week Chinese WM Motors provided a sneak peek of its first mass-market EV to be unveiled this week. CEO of WM Motors, Freeman Shen, announced the creation of its EV specific brand Weltmeister this week through the launch of the Weima EX5 SUV. Weltmeister will produce 3 EVs from its 100,000 unit plant in Wenzhou. The EX5 will be available from the H2 2018 and cost less than 300,000 yuan (ca $45k).
Week 49 2017 - WM Motors secures funding from BAIDU
China Money Network reported that Freeman Shen, the former CEO of Volvo China and CEO of WM Motors billed by US media as the Tesla Motors of China, announced this week Baidu Capital led the investment in its $150 million round capital raising.
Baidu, the Google of China and investor in NextEV, created a $3 billion investment fund to invest exclusively in the fast-growing electric vehicle market attractive at a time when the vehicle and the internet are moving closer to each other. According to Jenny Wu, managing partner of Baidu Capital “Baidu is dedicated to building a new generation artificial intelligence open platform for autonomous driving in China, while WM Motor is a leader in combining AI, hardware, software and services in China.”
WM Motors will unveil its first car affordable mass-market EV with a range of 600 kilometers priced below $30,000 on the 11th of December. Judging from the sneak peek the WM Motors EV will be loaded with tech including facial recognition.
Week 34 2017 - WM Motors and German Isdera partners
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Gone are the days of range anxiety. Chinese buyers now have a choice of mass-market EVs with a range in excess of 400km/250 miles.
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