Chinese electric car maker WM Motor strives to rescue business

Chinese electric-vehicle maker WM Motor say they will adjust their corporate strategy as it struggles with corporate debt and intense pressure in their competitive home EV market.

China has the world’s biggest electric car market but is also the most competitive with many more EV manufacturers compared to other markets. 

Chinese electric-vehicle maker WM Motor said a Shanghai court has accepted a so-called pre-restructuring application by the company, which is mired in financial difficulty and collapsing sales.

In a statement, WM Motor said it will adjust corporate strategy and keep communicating with relevant parties to resolve its financial and debt problems. Earlier this week, WM Motor was mentioned in a notice on China’s national enterprise bankruptcy information disclosure platform.