Shanghai (Gasgoo)- WM Motor is likely to gain certificate of manufacturing cars through acquiring the stake of Zhongshun Automobile, judging from an announcement from Ministry of Industry and Information Technology (MIIT) on Jan. 16.
In accordance with the announcement, the name of Zhongshun Automobile Holding Co., Ltd. (hereinafter referred to as Zhongshun Automobile) will be changed with WM Motor Wenzhou Co., Ltd. Besides, Li Jinzhong, the company's legal representative may also be replaced with Freeman Shen, founder of WM Motor.
Meanwhile, the registered place and manufacturing address will be changed correspondingly. If anything unexpected won't happen during Jan. 16 and Jan. 21, WM Motor will gain the vehicle-manufacturing certificate.
WM Motor Wenzhou Co., Ltd. will take the whole stake of Zhongshun Automobile indirectly. Reorganized in 2003, Zhongshun Automobile specializes in R&D and manufacturing of commercial vehicles and passenger vehicles, including light buses, MPVs and SUVs.
Founded in December, 2015, WM Motor is positioned as a NEV carmaker and a mobility solution provider. In December, 2017, WM Motor completed two rounds of fund raising. One was invested by China Structural Reform Fund Corporation Limited, China Minmetals H.K (Holdings) Limited, Sequoia Capital China, as well asTencent Group, and the other one was led by Baidu Capital and followed by Baidu Group.
During the brand releasing ceremony on Dec. 11, 2017, WM Motor's first model, the EX5, positioned as a pure electric SUV, was launched with a starting price of about RMB 200,000. The SUV boasts a maximum range of 600km. The EX5 is expected to be put into production at the beginning of 2018 at WM's intelligent manufacturing plant in Wenzhou and will accept preorders at the Beijing Motor Show 2018.
In the future, WM Motor will carry out "128" strategy for its products planning. With one core structure, WM will release eight models on its two platforms, dubbed STD and PL.
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