WM Motor’s Second Act: Can the EV Startup Rise Again?

Once a rising star in China’s EV boom, 威马汽车 (WM Motor) fell into crisis as funding dried up and factories went idle.

Many thought it was finished.

But on Sept. 6, new investors announced a court-approved restructuring and a bold revival roadmap:

🔹 Phase 1 (2025–2026): Restart EX5/E5 models, aim for 100,000 units/year, expand to Southeast Asia & the Middle East.

🔹 Phase 2 (2027–2028): Scale to 250k–400k units, launch advanced driver-assist models, prep for IPO, leverage AI across R&D and marketing.

🔹 Phase 3 (by 2030): Target 1 million units/year, ¥120B revenue, build a smart mobility ecosystem.

✅ WM plans 10+ new models in 5 years, covering everything from city EVs to SUVs and MPVs — a mass-market strategy rather than a luxury niche.

👉 The big question:

In an intensely competitive EV market dominated by BYD, Tesla, and state-backed players, can WM carve out space and regain trust?

At WM’s Wenzhou base, freshly parked EX5s signal more than production — they represent fragile hope for employees and suppliers betting on a comeback.

⚡ My take:

The roadmap is ambitious, but execution will decide whether WM Motor becomes a comeback story or another cautionary tale in China’s EV shakeout.