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WM Motor Hit the Daily Capacity Record of 200 Units, and Reaffirmed Their 100,000 Goal
WM Motor Hit the Daily Capacity Record of 200 Units, and Reaffirmed Their 100,000 Goal
Associated Company
威马汽车 威马汽车

On Nov 15, WM Motor claims that the company is starting to deliver in 16 cities across China, build 39 offline retail stores covering 26 cities and plans to push the number to the north of 50 at the end of 2018. EX5, its first vehicle, is building in the eastern city of Wenzhou at a plant which has an annual capacity of 100,000 units. The plant has manufactured nearly 2,000 units in the year to mid-November. The capacity is escalating gradually and estimated to reach a daily record of 200 units in November. WM Motor hopes it will be more than 200 in the next month. In the future, they will release official information about delivery and production process to customers.

WANG Wei(王卫), Chief marketing officer of the company, reaffirmed the targeted deliveries of 100,000 units in 2019, the two new models EX5 pro and EX6, already were showed up the Beijing Model Exhibition, reported by Sohu.

Two months ago, Reuters reported that WM Motor aimed to raise at least CNY 2 billion (USD 288.33 million) in its new funding round, valuing the company at over CNY 20 billion. A couple of days passed, WM Motor named Rupert Mitchell as their new Chief Strategy Officer, who will report directly to SHEN Hui(沈晖), the CEO of WM Motor, in charge of the automaker's strategy financing and investment businesses. Mr. Mitchell was former senior executive of Goldman Sachs and Citigroup. It seems they have prepared well for the new round funding.

The funding will be primarily used to develop manufacturing facilities as well as for research and development. Actually developing manufacturing capacity and enhancing orders is quite essential for WM Motor now. The official number of order announced in September is 4016.

For a handle on the math, there are no more than one month and a half left for WM Motor, if we assume the company can produce 200 units every day in next 45 days (start from the day they made the announcement on Nov 15), the total number will be 9,000.

The company's goal is to deliver 10,000 vehicles by the end of this year with targeted deliveries of another 90,000 units in 2019(see this article). They might actually accomplish the goal of 10,000 units in 2018, after adding up the 2,000 units produced.

But how about the orders? WM Motor did not release more information about the growth of their orders so we cannot do the math again. To remember, what they said is delivery but not production.

——Author: LinYan.Write to LinYan at LinYan@EqualOcean.com 

 

Enterprise Information

威马汽车由原吉利副总裁、沃尔沃中国区董事长沈晖创立,是一家技术领先的初创型智能电动车研发、制造公司。
CATEGORIES: New Energy Auto, Auto Traffic, Electric Auto, Auto Manufacturing, Smart Auto, Internet of Auto
Last Funding Type
Strategic Investment
Number of Employees
501-1000
Number of Funding Rounds
5

Enterprise Information

威马汽车
威马汽车由原吉利副总裁、沃尔沃中国区董事长沈晖创立,是一家技术领先的初创型智能电动车研发、制造公司。
CATEGORIES: New Energy Auto, Auto Traffic, Electric Auto, Auto Manufacturing, Smart Auto, Internet of Auto
Last Funding Type
Strategic Investment
Number of Employees
501-1000
Number of Funding Rounds
5

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