Beijing (Gasgoo)- Freeman Shen, founder, chairman and CEO of Chinese NEV (new energy vehicle) startup WM Motor revealed that his company had a not-bad sales growth, as a response to the doubt that the company has fallen behind other competitors.
In June, its sales nearly doubled (up 97.8% year on year) to 4,007 vehicles and quarterly sales surged 105.6% to 10,116 vehicles. Its total sales during the first half of this year jumped 103.8% to 15,665 vehicles.
WM Motor's W6; photo credit: WM Motor
The growth can be credited to two main reasons. One is the delivery of the W6 model, which is claimed to be the first mass-produced model with Level 4 capability in China. According to the executive, the new model has received more than 10,000 orders and 30% of the owners who have taken delivery were born in 1990s.
The other growth driver is the expansion of its sales network. Currently, the automaker has 24 stores in Beijing, 28 stores in Shanghai and a total of 15 in Guangzhou and Shenzhen. In the future, it will add more stores to spur sales.
In the second half of this year, WM Motor plans to launch the M7, its first battery electric sedan and the first model from its M family. Equipped with several lidars, the sedan will boast strong self-driving capability.
WM logos; photo credit: WM Motor
Besides, WM Motor will soon start to use double brand logos. The all-new oval logo will be carried by products for individual users, namely SUVs from W series and sedans from M series. The round logo will be for ride-sharing products.
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