China's Oriental Material to Install Smart Painting System for WM Motor's Hunan Plant
Tang Shihua
DATE:  Feb 11 2020
/ SOURCE:  yicai
China's Oriental Material to Install Smart Painting System for WM Motor's Hunan Plant China's Oriental Material to Install Smart Painting System for WM Motor's Hunan Plant

(Yicai Global) Feb. 11 -- China's Shanxi Oriental Material will build the smart painting system for WM Motor's carmaking factory in Hunan at a price of CNY190 million (USD27.3 million).

Oriential Material will make, transport and install the painting section of the production line, it said in a statement yesterday. Its shares [SHE:300486] were up 1.4 percent at CNY22.21 (USD3.19) as of 2.37 p.m.

The firm intends to have the production line in operation by the end of June 2021, according to the statement.

WM is one of China's up-and-coming smart carmakers and begun deliveries of its first mass-produced vehicle, the EX5, in 2018. It sold 16,876 internet-connected vehicles in 2019, second only to Nio's 20,565 among the country's smart car startups. Its major investors include big names such as Baidu, Tecent, Sequoia Capital.

Its new factory will cost around CNY20.2 billion and be able to produce 300,000 cars a year once complete.

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Keywords:   EPC Contract,Smart Painting System,Smart Vehicle,Electric Vehicle,WM Motor,Oriental Material