Shanghai (ZXZC)- Chinese new energy vehicle (NEV) startup WM Motor recently said it has bumped up the prices of the EX5-Z by 3,000 yuan ($475) to 4,000 yuan ($635) due to the increase in auto parts prices and other factors, effective from March 1, 2022.

After the adjustment, the post-subsidy prices of the 2022 EX5-Z's PRO and Lead versions have been raised to 154,800 yuan ($24,520) and 163,800 yuan ($25,950) respectively.

EX5-Z; photo credit: WM Motor

The move came after China's authorities further reduced subsidies on NEV purchase at the beginning of this year. In response to this policy, a slew of automakers, including Tesla, XPeng, and BYD, have lifted prices of some NEV models.

As an annual facelift version of the EX5, the 2022 EX5-Z is positioned as an all-electric SUV with a length of 4,585mm and a wheelbase spanning 2,703mm. In the cockpit, the 15.6-inch and 12.8-inch central screens are used for the Lead and PRO versions respectively, and they feature many touch-sensitive controls, in place of physical dials. Besides, the Lead version also uses the HUAWEI Assistant and Living Pilot to deliver a good performance in human-vehicle connectivity and driver assistance functions.

Regarding the annual performance of 2021, WM Motor ranked fifth among Chinese NEV startups with 44,157 vehicles delivered. However, the startup has not released the delivery results for the first two months of this year, making people double that the company is being vexed by recent consumers’ disputes over its product quality and component price increase.