WM Motor, Xpeng Motors attract customers with incentives

Shanghai (Gasgoo)- Recently, WM Motor launched direct purchase service that is similar to NIO's battery rental business while Xpeng Motors decided to double the value of the deposit for the Xpeng P7. 

(Photo source: WM Motor)

WM’s direct purchase service can offer two options, to rent or to buy, with which customers can make a down payment and then rent battery monthly or buy it. They just need to pay RMB94,900 ($13,834) before February, 2020 for the WM EX6 Plus400, whose original price is RMB189,900 ($27,683) after comprehensive subsidy, according to the EV startup. Afterwards, customers need to pay RMB5,000 ($729) more for the down payment.

The company will charge fees for monthly battery leasing in addition to the down payment. For example, when users possess the model less than 24 months, they need to pay RMB1,599 ($233) per month if the monthly driving range reaches 0-1500km and RMB1,999 ($291) per month for over 1500km. The longer they own the car, the less the monthly battery rental costs. WM still offers used-car service for this specific model, which can be bought back by the company within two years.

(Photo source: Xpeng Motors)

At the same time, Xpeng Motors announced that as long as customers pay deposit for the Xpeng P7 between January 17 and February 29 this year, the amount will be doubled when deducting the deposit form the total price.  People can choose to pay RMB5,000 ($729), RMB10,000 ($1,458), RMB15,000 ($2,187) RMB20,000 ($2,916) in advance.

As to NIO, Chairman Li Bin said at the China EV 100 Forum there is no room to reduce the price.