SHANGHAI, June 17, 2023 / — Recently, WM-INTL has made an announcement stating that the Wenzhou Factory of WM has resumed its operations in June and has been gradually recovering its production capacity. It means backlog of both domestic and foreign orders may be fulfilled and delivered in a short period of time.

It is reported that, for the resumption of work and production, WM has been effectively coordinating various aspects, such as factory employees, machine maintenance and raw material procurement. The smooth resumption of work and production during this period can be largely attributed to the alleviation of WM  financial burden. This is mainly due to the financial support provided by the local government based on relevant export orders and the coordination of the supply chain and parts supply, which enabled prompt restoration of operations at the Wenzhou factory.

KANG, Yun, the person in charge of WM-INTL said, “There has been a gradual progression toward recovery of WM. First of all, we would like to express our gratitude for the support of the local government in Wenzhou, and the association of investors that have provided a variety of funding opportunities for WM. We have enough confidence that WM can restart production capacity very soon.”

WM Wenzhou factory’s resumption of production shows that after small-scale trial operation, nearly 100 units WM E5 model have been approved and dispatched. At the same time, WM’s internal resumption of work and production documents also indicate that the 310 job vacancies in 24 key departments involved in the production of entire vehicle, including stamping, body construction, painting, final assembly, logistics, quality assurance, and after-sales, have been prepared. It is anticipated that the production capacity shall be restored to approximately 300 automobiles per month within a span of one month, and the production capacity of 1,000 automobiles will be realized in three months.

“WM factory has been conducting intermittent equipment maintenance and providing preparatory training sessions. This is a trial operation for small-scale production, and it is expected to officially resume work and production after 4-5 weeks.” KANG, Yun said.

The resumption of operations and production of WM Wenzhou factory this time signifies a robust impetus for WM to penetrate the international marketplace. “The primary task of WM Wenzhou factory’s resumption of work and production is to expedite the delivery of overseas orders so as to expand their global market share. Additionally, they aim to guarantee the provision of organized after-sales services for WM both domestically and internationally.” KANG, Yun emphasized.

Subsequent to undergoing a financial crisis, WM will be more cautious in investment and operation, striving to achieve a balance between the quality of its vehicles and market competition. It implies a positive outlook for WM, as the stability of its future business may be guaranteed.

The previous financial pressure did not cause WM to stop its operations, and the entire system has continued to operate in an orderly manner. Recently, WM and China Chengtong Ecological Engineering Co., Ltd. signed a strategic cooperation framework agreement in Beijing. The two parties will fully leverage their advantages in resources, industries, ecology, innovation, and capital, and build a cooperation platform based on the industry to promote the formation of a shared and win-win integrated high-quality development new pattern for the new energy vehicle industry.

In the future, WM will combine its own innovative advantages, give full play to the “leader” effect of the “chain leader” enterprise, and play a key role in promoting the complementation, extension, and strengthening of the industrial chain, and promoting high-quality development.

At that time, Chengtong will recycle and reuse approximately 90,000 tons of batteries for WM’s 150,000 new energy vehicles.

As the sole new energy vehicle company that focuses on expanding into overseas markets, it is evident that WM will return to market competition. It remains to be seen what kind of achievements WM will make. This has the potential to serve as a beacon for China’s new energy vehicle companies seeking to expand their reach internationally.