Abstract: When the market structure of "dumbbell type" electric vehicles began to gradually change to "spindle shape", WM also began to adjust its product matrix
Text | Guo Huaiyi
Editor 丨 Zhao Cheng
▲ Image source WM Motor
After the micro-electric vehicle represented by the Wuling Hongguang MINI EV shines, the electric car market that is closer to the mainstream users in terms of price seems to be ushering in its own highlight moment.
In the first quarter of this year, the hot sales of BYD Han and Xiaopeng P7 have made the outside world see that the pure electric mid-range car of its own brand is also promising. For a long time, there has been a saying in the Chinese auto market, that is, "those who get mid-level cars win the world." "But in the era of traditional fuel vehicles, whether it is the Passat and Maiten of the North and South Volkswagen, or the Toyota Camry, Honda Accord, and Nissan Tianlai, which are known as the Japanese Sanjie. The share of the mid-level car market has always been firmly occupied by joint venture brands, and independent brands have never occupied a place in the mid-level car market.
However, with the rapid development of new energy vehicles, traditional fuel vehicles in the mid-level car market began to shrink, and pure electric products are rapidly rising. According to the data of the Association of Automobile Manufacturers, in the first quarter of this year, the overall mid-level car market fell by 11.4%, but the pure electric mid-level car increased by 8% against the trend.
Under such a background, major car companies are actively laying out the pure electric mid-range car market. On April 15, WM Motor announced the official listing of the new WM E.5 for smart pure electric car.
▲ Image source WM Motor
It is reported that the new WM E.5 has two models, namely WM E.5 Pro and the new WM E.5 Smart Travel. After the comprehensive subsidy, the price is 180,100 yuan and 190,100 yuan, respectively. Now you can enjoy preferential benefits of 10,000 to 40,000 yuan when you buy a car, and the price is as low as 150,100 yuan for a limited time.
In terms of configuration, the new WM E.5 adopts a ternary lithium battery, which can provide a reliable long battery life of 505km. In terms of human-computer interaction and digital experience, the new WM E.5 is equipped with dual 12.3-inch large screens and is equipped with the Living Mate intelligent cockpit system. In addition, it is equipped with L2-level Living Pilot 3.5 Base intelligent driver assistance system, including ACC adaptive cruise, AEB automatic emergency braking, and FCW forward collision warning system.
It is worth noting that the WM E.5 was previously a pure electric car for the online ride-hailing market. For this turn, WM told Caijing Automobile (ID: caijingqiche): "E.5 was originally a car for the travel market, but because the sales volume is still quite good, the demand of the user market is also relatively large, so it has upgraded the new E.5 and sold it to the user market." ”
▲ WM car logo
Shen Hui, founder, chairman and CEO of WM Motor, once pointed out that China's new energy vehicle market structure is changing from "dumbbell type" to "spindle type", and it is expected that in the next ten years, the penetration rate of mainstream new energy of 150,000 to 250,000 yuan will increase from 3% to 40%.
Therefore, in the eyes of the outside world, with the expansion of the pure electric mid-range car market and the increase of product launch efforts by enterprises, WM timely adjusted the market positioning of E.5 and made it a wise move for the wider private consumer market. In addition to adapting to the changes in the market, boosting sales through the launch of new cars is also a top priority for WM.
Since 2021, the voices that WM Motors have been left behind have been heard endlessly. Shen Hui also personally came forward to fight back: "Smart electric cars are like playing football, and now the first 15 minutes of the first half have not been played, and who wins and who loses is not yet known." ”
But the reality is that the market performance of WM Motors is indeed significantly lagging behind. In March 2022, WM delivered 5,516 units, an increase of more than 2 times year-on-year; in the entire quarter, WM sold 11,512 units. This data not only lags behind the new forces such as Wei Xiaoli, but also lags behind the rising stars such as Nezha and Zero Run.
In addition, WM Motors' road to IPO has not been smooth.
As the head of the new power company that once stood side by side with Weilai and Xiaopeng Automobile, the early development momentum of WM Automobile was once very strong. But times have changed, and now Wei Xiaoli has achieved listings in the United States and Hong Kong, and zero-run cars have also locked up their IPOs in Hong Kong. However, WM's road to listing still has no end in sight.
In September 2020, WM Motor applied for listing on the Science and Technology Innovation Board, but more than two years have passed, and there is still no news. In this regard, Shen Hui once said: "When to go public, there is no way to predict, and I can't decide... As long as the company is done well, we believe that we will always get the support of the capital market and sooner or later we will stand on a different stage of competition. ”
At present, WM has completed 10 rounds of financing, with a cumulative financing amount of more than 35 billion yuan, which is the highest amount of all new car-making forces before listing. After the D+ round of financing in October 2021, Shun Tak Group, an investor with a Hong Kong background, clearly mentioned in the announcement that WM Motor may conduct an IPO.