WM Motor has recently officially applied for bankruptcy review, and the handling court is Shanghai Third Intermediate People's Court.
Li Xiang, Chairman and CEO of Li Auto, expressed on Weibo, "NIO, XPeng, and Li Auto have never fabricated or falsely reported any financing."
On September 11th, Kaixin Auto announced that it has signed a non-binding letter of intent for acquisition with WM Motor.
Since the start of 2023, a price war has broken out in China's automotive industry, leading to intensified market competition. This has made it increasingly challenging for car manufacturers with consistently low sales and inadequate self-sustaining capabilities.
On March 7, WM Motor, an electric vehicle maker in China currently caught up in a mounting capital crisis, announced through its social media outlets that more than 100 stores in China will resume normal services in the near future.
Apollo Future Mobility, a Hong Kong-listed company, announced on January 12 that it would acquire a subsidiary of Chinese automaker WM Motor for $2.02 billion. This is a strong indication of WM Motor's plan to carry out a public listing through a reverse takeover.
On August 4, WM Motor, a Shanghai-based new energy automobile company, announced the launch of its "Smart Parking" service.
Freeman Shen, CEO of EV firm WM Motor, responded to the question of "whether to charge fees for autonomous driving" on social media, saying that his view was to refrain for the time being.
NEV brand WM Motor announced on Wednesday that due to factors including rising parts prices, the production schedule and price of some models will be adjusted from March 1.
Chinese EV firm WM Motor is facing scrutiny amid rumors of reduced electricity storage, causing the cruising range to decline significantly.
WM Motor, a startup electric vehicle producer, issued a recall for 1,282 vehicles on Wednesday after a car caught fire.