WM Motor begins recall after vehicle fire
The Chinese startup WM Motor has recalled 1,282 of its EX5 electric cars after four of its vehicles caught fire within one month. This is the latest of a number of large recalls made by carmakers in Asia, Europe and North Americain the last few weeks due to battery problems.
WM Motor attracts €1.25Bn in new financing round
The Chinese electric car startup WM Motor has now generated 1.25 billion euros ($1.47Bn or RMB 10Bn). The most recent round of financing was led by SAIC Motor’s investment platform and the Shanghai Municipal Asset Monitoring and Management Commission.
China’s NEV sales are picking up again
In China, the decline in sales figures for new energy vehicles appears to be levelling off as some manufacturers’ sales figures for July seem to indicate. The Xpeng P7 market launch also apparently went well.
WM Motor plans 3 new models before the end of 2021
The Chinese electric car manufacturer WM Motor aka Weltmeister is apparently planning a rapid expansion of its model range. According to Chinese media reports, two new e-SUVs and one electric sedan are planned for the second half of 2020 and next year.
McKinsey finds 7 of 10 China EVs potentially profitable
The management consultancy McKinsey has disassembled and analysed ten popular electric cars from Chinese manufacturers for a new study. From this, the consultants derived some interesting statements on possible profits and the market prospects of international manufacturers.
WM Motor starts selling debut model EX5
The Chinese electric mobility startup WM Motor has now begun selling their first vehicle model in China, the EX5. The mobility brand Weltmeister was set up by the startup in cooperation with a German agency.
China’s WM Motor open to go public in the USA
Chinese EV startup WM Motor says it is open to holding an initial public offering (IPO) in the States. The firm that aims to launch a comparably cheap EV bearing the label Weltmeister (German for world champion) already said last year that it had investment.