China’s WM Motor has started producing its first electric model, the EX5. The all-electric SUV comes with a range of 600 kilometres and shall arrive at dealers in Q3 this year with prices to start at 200,000 yuan (26,000 euros).
WM Motor will start presales already this month though at its home show, the Auto China in Beijing. The EX5 targets Chinese buyers primarily and is to become available in autumn this year.
Range is key to the model and gimmicks like the logo being capable of indicating the state-of-charge underline this character.
The latest price expectation of 200,000 yuan is even lower than the initially predicted 300,000 yuan. Trading under the name of Weltmeister, German for world champion, WM Motor had recently aired plans to float the firm publicly but also said that there was no hurry as the initial financing stands.
After the EX5 launches successfully, WM Motor got two more EVs lined up before 2020. The startup reportedly aims to sell 100,000 cars a year within 3-4 years of the planned 2018 launch. The entire production is set at the company’s plant in Wenzhou, that will then run on its capacity limit if WM Motor manages to reach its sales targets for electric cars.