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Discussion Starter · #1 ·
WM Motor Technology Co., Ltd. unveiled its first production car, the EX5 SUV, at the Shanghai National Convention and Exhibition Center. A new logo was shown as well. Baidu Capital is a major investor in the company. Production will take place at a new plant under construction in Wenzhou from late 2018. No key specification was declared other than a possible range from 450 up to 600 km.

Excerpt from Autohome:
Founded in early 2015, WM Motor is a domestic provider of new energy automotive products and travel solutions. Weima founder Shen Hui served as vice president of Geely Holding Group , Volvo 's global senior vice president and chairman of Volvo China and other positions. At present, Weima already has a core team of more than 800 people, of which 70% -80% are from the vehicle industry, 20% -30% are from the Internet, and are located in Germany (Technology Center), Shanghai (Headquarters, Design Center, R & D Center) Beijing (big data center), Chengdu (Research Institute) and Wenzhou (factory).
Further info from Reuters:
https://www.reuters.com/article/us-china-autos-wm/chinese-electric-car-maker-to-put-weltmeister-on-road-next-year-idUSKBN1E51GH
https://in.reuters.com/article/us-china-autos/chinese-ev-start-up-wm-motor-says-to-get-funding-from-group-led-by-baidu-capital-idINKBN1DZ0VD





 

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Ho hum.....
Looking for the distinctiveness, but not finding it.
Multiple start-ups competition demands distinction.
Is it underneath?
 

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Discussion Starter · #5 · (Edited)
Dalian Huanghai

Even as WM Motors goes ahead with the construction of its main plant in Oujiangkou (Wenzhou), it has kept another factory as standby to quickly ramp up production.

MIIT released information about an SUV, DD6455BEV01 to be made by Dalian Huanghai Automobile Co., Ltd. Although the car sports an unfamiliar logo, the pictures are those of an EX5 test vehicle.

Digging around, I learned that in February 2017, Liaoning Shuguang sold 100% of Dalian Huanghai Automobile Co., Ltd. to Dalian Xinminya Intelligent Technologies Co., Ltd. which is a wholly owned subsidiary of WM Motors, for close to CNY 1.2 billion. Dalian Huanghai was responsible for manufacturing the Raytour van for its previous owner (see). This transaction was, thus, separate from the sale of controlling interest in Liaoning SG Auto to Hawtai.

Like many of the other "smart EV" startups, WM Motors too has not received EV project approval for its Wenzhou site, so perhaps keeping another licensed plant ready may come in handy (it increases costs though!). Fortunately, the car itself has been type-approved, as noted above.
 

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SG Automotive, the only private Chinese auto axle maker, is a large, well established manufacturing complex, with ties to Eaton of the U.S.. Now it looks like it's getting back to focusing on its main business, leaving many of its passenger models to others.
My guess is that Weltmeister's founder, Mr. Shen, knows a good sound, and quality, manufacturer when he sees one. The same goes for Huatai.
Who will build the Raytour now?
 

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Discussion Starter · #7 ·
Corrected a little mistake:

Liaoning Shuguang Group LLC sold its 21.27% stake in Liaoning Shuguang Automotive Group Co., Ltd. (Huanghai Auto) to Hawtai Motor. Dandong Huanghai Automobile is a part of Liaoning Shuguang Automotive Group Co. Ltd. as the operating company of its factories.

Dalian Huanghai was a subsidiary of Liaoning Shuguang Automotive Group Co. Ltd.

Raytour will continue to be made by Dandong Huanghai, along with the other large buses.

Sorry for the confusion. A careful reading of the Chinese transaction document cleared it up.
 

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Discussion Starter · #8 · (Edited)
Weltmeister obtains production qualification for Wenzhou

The "reverse merger" is increasingly becoming the preferred route for new EV and non-EV companies to get a production license.

WM Automotive Manufacturing Wenzhou Co., Ltd., a WM Motor (Weltmeister) group company responsible for constructing and operating the upcoming industrial site in Oujiangkou (Wenzhou), has purchased an idle auto company through a subsidiary. This idle auto company is none other than Zhongshun Automobile Holdings Co., Ltd., better known to us as Polarsun.

Zhongshun Automobile Holdings Co., Ltd., has recently merged with WM Auto Mfg. Wenzhou. Its license has been transferred to WM Auto Mfg. Wenzhou with a change in the original registered and production addresses to sites in Wenzhou (office and plant).

http://www.d1ev.com/news/qiye/61264
http://www.iautodaily.com/index.php?c=article&id=4254

With Dalian Huanghai under its belt as well, WM Motor has two licensed sites for production, with one of them under construction right now.
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History/Details: Shenyang Zhongshun/Polarsun came about (in 2002) as a restructuring of Songliao Automobile Co., Ltd., itself part of a military-owned conglomerate Songliao Enterprise Group. In 1965, Shenyang Military Region Logistics Department Auto Repair Factory and the PLA Factory No. 7416 (est. 1947) had been unified and in 1983 this was renamed Songliao Automobile Factory. In 1993, it was incorporated as Songliao Automobile Co., Ltd. (link) (Lawrence, Erik, correct me on the history if required)

Songliao Automobile Co. Ltd. was renamed Cultural Investment Holdings Co., Ltd. in 2016 and is now a film production and investment company. Songliao Auto/CIH stayed as one of three shareholders of Zhongshun Auto Holdings till August 2017, when Shenyang Sibo Intelligent Automobile Technology Co., Ltd. (subsidiary of WM Auto Mfg. Wenzhou) purchased Zhongshun.

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Never confuse WM Motor (Weltmeister) with WM Motors USA (WMIC) that owns Saleen Motors International.
 

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Discussion Starter · #14 ·
Fire takes toll on EX5 bookings

A few weeks ago, a new Yema EC70 burnt to a cinder during charging which led to the widespread belief that the fire was caused by a faulty battery. The battery was a product of Zhejiang Gushen Energy Technology Co., Ltd. (a.k.a. Godsend Power :lol:) Unfortunately, Godsend Power is also a battery supplier to WM Motors, and three out of five variants of the EX5 are powered by Godsend batteries. The two most expensive variants (Pro) use batteries from CATL (Contemporary Amperex Technology), a more reputed firm.

Early-bird bookings for the EX5 had begun as far back as December 2017 and WM had boasted of 10,000 bookings within nine weeks. Again, five weeks post price announcement in April, WM maintained that the EX5 had received "over 10,000 bookings". Some netizens and nosy journalists found this to be slightly fishy, and upon some investigation, it looks as if a spate of cancellations with refunds may have taken place after the Yema-Godsend fire incident became known. Apparently, prospective buyers who had booked an EX5 are peeved that WM did not reach out to them or communicate any assurance that its product is safe, that buyers have nothing to worry about, or that the company was taking some positive steps (like re-testing the doubtful electricals or changing the supplier) to allay the buyers' fears.

WM has understandably played down this incident and maintains that "only 0.3%" have canceled bookings, but the media suspect that the proportion may be significantly more, even up to 30%.

http://news.bitauto.com/hao/wenzhang/807685
http://news.cnev.cn/Info_112826.html
https://k.sina.cn/article_1594988364_5f11974c01900eooh.html
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P.S.: I find nothing that reports how Yema may have been affected.
 
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