Chinese EV startup WM Motor files for bankruptcy
Chinese EV startup WM Motor files for bankruptcy
www.channelnewsasia.com Chinese EV startup WM Motor files for bankruptcy
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 ...
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I have a sneaking suspicion that there are more than a few Chinese EV companies with flimsy finances or finances that are propped up by the state. The growth of the Chinese auto industry just stinks of artificial growth through government patronage to me.