WM Motor displayed a concept car at Auto China in 2020. The Chinese automaker says its bankruptcy application was accepted by a local court.
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CK TAN, Nikkei staff writer |
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.
In a statement released late Tuesday, the Shanghai-based automaker announced that its bankruptcy application was accepted by a local court on Saturday.
