BEIJING: Chinese electric vehicle startup WM Motor has filed for bankruptcy, marking the demise of a promising standout among China’s EV makers as price competition in the world’s largest auto market heats up.
A court in Shanghai is handling the bankruptcy case, according to a filing dated Monday on the national enterprise bankruptcy information disclosure platform.
“WM Motor’s planned reorganisation will introduce strategic investors from across the globe to achieve its rebirth,” the company said in a statement posted on its official Weibo account on Tuesday.
