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KEY STAT | WM Motor to recall almost 10% of sold EVs in 2020 after smoke and fire incidents

Written by Julianna Wu Published on     1 min read

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The Chinese carmaker is in the process of filing a Shanghai IPO.

Chinese electric vehicle (EV) startup WM Motor, also known as Weltmeister, announced on Wednesday it will recall 1,282 vehicles equipped with a certain battery cell produced between June 8 and September 23, 2020.

The decision came after the explosion of one of its EX5 SUVs in Beijing on Tuesday night, which, according to 36Kr, is the fourth consecutive fire and smoke incidents that happened to the model in the last 35 days.

The number of units to be recalled accounts for 3.6% of total EX5 models sold since the release in late 2018, and just under 10% of the 13,886 vehicles the brand has sold in the first nine months of 2020, according to the company’s official data.

Currently, WM Motor is in the process of filing for a Shanghai Stock Exchange Science and Technology Innovation Board listing, after closing an RMB 10 billion (USD 1.49 billion) D+ round in late September.

Read this: TECH PANO | Capital-fueled “Teslas” of China are yet to own the roads

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.

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