Shanghai electric vehicle (EV) start-up WM Motor Technology Co will launch its first car during Q2 2018 under its Weltmeister brand, according to CEO Freeman Shen. WM will begin taking orders for its sport-utility vehicle, priced at less than CNY300,000 ($45,340), in April next year, with eventual plans to sell three EVs annually across 100,000 models. The company, which has an assembly plant based at Wenzhou, faces competition in the EV sector from US brand Tesla, as well as Chinese start-ups Future Mobility and Nio.
Shanghai electric vehicle (EV) start-up WM Motor Technology Co will launch its first car during Q2 2018 under its Weltmeister brand, according to CEO Freeman Shen. WM will begin taking orders for its sport-utility vehicle, priced at less than CNY300,000 ($45,340), in April next year, with eventual plans to sell 100,000 EVs annually across three models. The company, which has an assembly plant based at Wenzhou, faces competition in the EV sector from US brand Tesla, as well as Chinese start-ups Future Mobility and Nio.