Covid-related factory shutdowns and travel restrictions have increased production costs for Chinese electric car start-up WM Motor, CEO Freeman Shen told CNBC.
of producing 1 million cars in March 2020.
Part of WM Motor's sales strategy is to work with property developers to open test drive sites in more residential neighborhoods, while building up the cars' autonomous driving capabilities such as in parking, Shen said. Cities frequently change Covid testing requirements for travel, while flights and train tickets can get cancelled based on newly reported Covid cases.
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