Chinese electric vehicle maker WM Motor is reportedly preparing to unveil a new model this month, marking a potential step toward reviving its operations after declaring bankruptcy earlier this year.
According to local media outlet Lanjinger, the company may host an event to debut the model later in November as part of its broader relaunch efforts. WM Motor hinted at its return earlier today on Weibo, writing, “Good news is coming soon. Stay tuned.”
Sources cited by Lanjinger said the relaunch will encompass several areas, including new product introductions, expansion of service networks, and renewed cooperation with suppliers. Although the company’s after-sales services have yet to fully resume, teams are reportedly back on duty, and progress is ongoing. WM Motor currently maintains more than 90 after-sales outlets nationwide, which are expected to expand as operations restart.
Founded in 2015, WM Motor began mass production in 2018 and once operated two assembly plants in Wenzhou, Zhejiang province, and Huanggang, Hubei province. The company’s financial troubles began in late 2022, leading to a bankruptcy filing in October 2023. In March 2024, a court confirmed its insolvency and initiated restructuring proceedings.
In September, Shenzhen Xiangfei Automobile Sales Co became WM Motor’s restructuring investor and new shareholder, taking control of its four core operating entities. The company subsequently announced plans to produce and sell between 10,000 and 20,000 EX5 and E5 models in September, targeting revenue of RMB 1 billion to RMB 2 billion ($140 million to $280 million).
