SHANGHAI -- Chinese electric vehicle maker WM Motor has filed for bankruptcy, highlighting a crowded market that is bracing for consolidation on the back of weakened domestic demand.
Automobiles
Chinese electric vehicle maker WM Motor files for bankruptcy
Company blames COVID, quiet capital market and rising raw material prices
WM Motor displayed a concept car at Auto China in 2020. The Chinese automaker says its bankruptcy application was accepted by a local court. © Reuters
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