(Yicai Global) Dec. 19 -- Chinese electric vehicle startup WM Motor Technology may not meet its goal of bringing 10,000 cars to customers this year, the founder and Chief Executive Shen Hui said. 

The reason for the delay is that the delivery process is too complex so the target may be reached in  January next year, Shen said to Yicai Global during interview yesterday. 

"The complexity is beyond our imagination," the chief of the Shanghai-based firm said. Distribution of new energy vehicles involves government subsidies, licensing and other issues and each province has their subsidy scheme, he added. 

WM Motor introduced its first module EX5 in March this year and started deliveries in September. The firm makes the cars itself while its domestic rivals of Nio and Xiaopeng Motors outsource their production to contract manufacturers. 

Chinese car startups are facing tough competition next year as amid an increasing number of models the government is planning to reduce its financial support. California-based Tesla is also planning to open its first overseas factory in Shanghai next year.

The anxiety of EV startups comes from competition in forward-looking technologies rather than external rivals like Tesla, Shen said, adding that an increasing number of conflicts over intellectual property may emerge as carmakers lay a greater emphasis on autonomous driving and other cutting-edge technologies.

"We have no problem in getting through the difficult period with nearly CNY20 billion (USD2.9 billion) of funds raised earlier," Shen said. Improving delivery capacity will be WM Motor's goal for 2019, while striving to produce 100,000 units. 

WM Motor's Wenzhou plant in Zhejiang province has assembled 2,000 new cars as of mid-November. The daily capacity of the plant is about 200 units, a figure which is within the expected range, Shen said. 

Editor: Emmi Laine