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.
The post WM Motor says 'pre-restructuring' does not mean bankruptcy, denies founder fled overseas appeared first on CnEVPost.
For more articles, please visit CnEVPost.
WM Motor still has commercial value and some of its creditors are willing to reorganize, it said.
The post WM Motor files for bankruptcy, says it will seek rebirth appeared first on CnEVPost.
For more articles, please visit CnEVPost.
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.
The post Sputtering WM Motor changes lanes with new US listing plan appeared first on CnEVPost.
For more articles, please visit CnEVPost.
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 new shares.
The post Kaixin Auto plans to acquire WM Motor as financially troubled EV maker drops plan for backdoor listing in HK appeared first on CnEVPost.
For more articles, please visit CnEVPost.
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 to sell NEVs overseas.
The post WM Motor eyes overseas markets as it struggles at home appeared first on CnEVPost.
For more articles, please visit CnEVPost.
WM Motor will have more than 100 dealership stores in China gradually return to regular service, the company said.
The post Financially troubled WM Motor says it's pushing hard to resume production appeared first on CnEVPost.
For more articles, please visit CnEVPost.