Charging and assistance system are paving the ways for Chinese customer faith in EVs.
Dec 11, WM Motor(威马汽车) announced a partnership with Allianz Worldwide Partners in roadside assistance service, which provides towing and other rescue operation service for WM Motor in the mainland of China.
Allianz Worldwide Partners is the subsidiary of Germany-based Allianz Group. As the global leading player in consumer specialty insurance, specializing in travel, tuition, and assistance service is expanding its business in different countries and regions. In China, AWP has provided services for a bunch of new energy vehicles manufactures and cooperated with financial institutions like BAIC, BMW and Pin An Property(平安财险).
Chinese electric vehicle (EV) startup WM Motor The firm has already raised more than CNY12 billion by Dec 2017. Its existing investors include China Structural Reform Fund Corporation Limited, Sequoia Capital China, Tencent and China Minmetals H.K (Holdings). The Chinese EV startup WM Motor is set to raise at least CNY 2 billion (USD 288.33 million) in a new round of financing, according to a Reuters report. The company aims to deliver 10,000 vehicles by the end of this year with targeted deliveries of another 90,000 units in 2019.
SHEN Hui(沈晖), the founder and CEO of WM Motor, said that investments are used to improve the ability to provide customers with better service. The strategic cooperation relationship with AWP is beneficial for the long-term development of WM Motor to grow into a respected brand in the consumer market. What WM Motor emphasizes most about their products is the affordable price compared to Tesla or BMW and high-quality experience.
The public charging network is growing fast in China, the country doubled its charging infrastructure over the past year, from 2.5 charging stations per 100 km of roadway to 5.7, according to Roland Berger. Charging and assistance system are paving the ways for Chinese customer faith in EVs.