Chinese electric vehicle startup WM Motor has filed for bankruptcy, an example of yet another once-promising EV upstart that has been pushed to insolvency as bigger players gain market share and Chinese spending on big ticket items dwindles. WM Motor, backed by Baidu and Tencent, was one of the most well-funded EV startups in China, […] from TechCrunch https://ift.tt/KM1inGB
Tuesday, October 10, 2023
WM Motor’s bankruptcy highlights challenges faced by EV startups in China
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