WM Motor says ‘pre-restructuring’ does not mean bankruptcy, denies founder fled overseas
WM Motor has denied reports that its founder Freeman Shen has fled to the US, leaving behind nearly RMB 40 billion in investments and debts.
WM Motor files for ‘pre-restructuring’, says it will seek rebirth
WM Motor still has commercial value and some of its creditors are willing to reorganize, it said.
Sputtering WM Motor changes lanes with new US listing plan
Following the collapse of its Hong Kong backdoor listing, WM Motor is pinning its hopes on a potential merger with the US-listed Kaixin Auto.
Kaixin Auto plans to acquire WM Motor as financially troubled EV maker drops plan for backdoor listing in HK
Kaixin Auto has signed a non-binding letter of intent to acquire 100 percent of WM Motor from its shareholders by issuing a certain number of…
WM Motor eyes overseas markets as it struggles at home
WM Motor said earlier this month that it is in the process of settling its debts in an orderly manner and is actively pushing ahead with plans…
Financially troubled WM Motor says it’s pushing hard to resume production
WM Motor will have more than 100 dealership stores in China gradually return to regular service, the company said.
WM Motor plans backdoor listing in HK to solve financial woes, report says
WM Motor plans a backdoor listing through a reverse takeover of Apollo Future Mobility Group, which is already listed in Hong Kong, according…
Financially troubled WM Motor sees about half of its Shanghai stores close, report says
The number of WM Motor stores in Shanghai has been reduced from about 20 to about 12, and most of the stores in the city's shopping malls have…
WM Motor cuts employee salaries to cope with financial pressure, internal letter shows
The Covid epidemic, rising raw material costs, and untimely parts deliveries have severely impacted WM Motor's production and operations, said…
WM Motor reportedly cuts employees’ salaries to ease financial strain
Starting in October, WM Motor is paying only 70 percent of normal salaries to regular employees and 50 percent to management, according to…
