WENZHOU, Zhejiang – WM Motor held a foundation-laying ceremony for its smart EV industrial park in Wenzhou, Zhejiang Province on November 23.
WM smart EV industrial park features four functions of smart manufacturing, smart logistics, flexible parts matching and autonomous driving testing. The park covers a total area of 667,000 square meters with fixed asset investment for phase-I of ¥6.7 billion ($1.03 billion), and will be built according to plans step by step.
Construction of parts plant and autonomous driving testing area will begin this year, and the park will reach a full production capacity of 200,000 vehicles annually. Now WM Motor has established a professional team of 150 people, responsible for plant construction and implementation of Industry 4.0 flexible manufacturing.
At the groundbreaking ceremony, WM Motor founder, chairman and CEO Freeman Shen said: “The first product from WM Motor’s vehicle platform will roll off the production line in Wenzhou in 2018, which will be a pure electric, connected and high-quality mainstream passenger vehicle model. When it goes into production, at least 1,000 vehicles will be tested in Wenzhou. In the future, WM Motor will export WM cars produced in Wenzhou to the U.S. market. “Vehcile manufacturing is exactly what we are best at, and that is why WM Motor team is consisting of 70 percent auto experts and 30 percent internet professionals,” said Shen.
When the park is completed, WM Motor will invite WM smart mobility value chain companies to involve various tests to jointly promote the electrification and intelligence development of Chinese auto industry. So far WM Motor has signed strategic cooperation agreements with many world-level suppliers and partners including Siemens (China) and Huawei, pursuing close, intensive cooperation in vehicle development and manufacturing, new energy, internet, and artificial intelligence, and defining new industry standards together.
WM Motor is China’s emerging EV products and mobility solution provider, and dedicates to providing Chinese consumers with improved, convenient and comfort mobility experience based on global talent, technology, development, manufacturing and industrial chain resources. Now WM Motor already forms a key team of over 600 people, based in Germany, Shanghai, Beijing, Chengdu and Wenzhou.