Published on 5 Oct 2023 on Reuters via Yahoo Finance
Chinese EV startup WM Motor files for bankruptcy
(This Oct. 10 story has been corrected to say that WM Motor filed for a pre-restructuring process, not bankruptcy, in paragraphs 1 and 2)
BEIJING (Reuters) - 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.