China’s EV company WM Motor has started volume delivery of its first model, the EX5 SUV marking its first entry into the country’s booming new energy vehicles space.
The company has been backed by internet giant Tencent and was established in 2015. It has a plant capable of producing 200,000 vehicles in Wenzhou, Zhejiang province.
“This is a milestone for WM Motor, and the first step in our long journey ahead,” said the company’s chairman and CEO Freeman Shen.
The company claims to be the first startup in China and even globally to deliver on time. It stated that they planned three years ago to deliver their vehicles in September 2018, and made it.
WM Motor had received more than 4,000 orders as of now and expects to deliver at least 10,000 vehicles this year. It is available in three variants and can travel up to 460 km on one charge. Prices range from 186,550 yuan to 247,300 yuan.
The company is expected to launch two more new models that are the EX5 Pro and EX6, in 2019 and expects total sales that year to surpass 100,000 vehicles. The goal is to produce affordable new energy vehicles that offer a satisfying driving experience.