(Yicai Global) Jan. 9 -- WM Motor, one of China's up-and-coming smart carmakers, has rolled its first fifth-generation networking car off the ramps at a new facility in Hubei province.
The Shanghai-based firm completed the car yesterday at its recently opened CNY20 billion (USD2.9 billion) factory, local news outlet Hubei Daily reported. WM expects to start mass-producing the vehicle by the end of this year.
WM Motor sold 16,876 internet-connected vehicles in 2019, second only to Nio's 20,565 among smart car startups. Its new factory can produce 150,000 cars a year and will be able to make 300,000 per annum once complete.