WM Motor says number of car insured totals 8,536 units for the first half

Shanghai (Gasgoo)- WM Motor saw the number of vehicles insured reach 8,536 units for the first half of the year, ranking No.1 among Chinese EV startups, the EV manufacturer said on July 19.

(Photo source: WM Motor)

In June, a total of 2,099 WM Motor's cars were insured against vehicle traffic accidents. Besides, the number for the second quarter rose 15% over the previous quarter.

The compulsory liability insurance for traffic accidents of motor vehicles is mandatory for a car to be granted a license in China. It means the insurance in which insurance company compensates, within the limit of indemnity, the victims other than the persons in the insured motor vehicles and the insured for their bodily injuries or deaths and property losses arising from road traffic accidents involving the insured motor vehicles.

Since a car owner has to show proof of insurance when he works on getting his car registered, the number of vehicle insured can basically demonstrate an automaker's deliveries.

The rapid growth in delivery was partly buoyed by the fast expansion of sales channels. WM Motor also said it has so far cooperated with 96 dealers in total, a remarkable surge of 92% compared with the cumulative number by the end of March. 

Moreover, the startup currently has one BEV model, the EX5, delivered on the market. Its second mass-produced model, the EX6, is set to go on sale in the fourth quarter of the year, according to Freeman Shen, founder and CEO of WM Motor.