Chinese EV Startup WM Motor Faces Operational Challenges, US Electric Scooter Company Bird Files for Bankruptcy, and Fisker May Seek Bankruptcy Protection
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#995af0d4 ver:0.06

Chinese electric vehicle (EV) startup WM Motor has filed for a pre-restructuring process, citing operational challenges caused by the pandemic, capital market sluggishness, and setbacks in gaining capital. The company plans to introduce strategic investors to support its rebirth. WM Motor's annual losses doubled to 8.2 billion yuan ($1.13 billion) over the past three years. The filing comes after failed attempts to seek a listing in Shanghai and Hong Kong. Concerns remain over consumer spending on cars amid a shaky post-COVID economic recovery.

In a separate development, US electric scooter rental company Bird has also filed for bankruptcy protection for its US assets. The reorganization will involve the sale of assets and aims to position the company for long-term, sustainable growth. Bi...

#newstr #WmMotor #Bird #Fisker #Bankruptcy #ElectricVehicle #EvStartup 

 https://here.news/story/995af0d4?ver=0.06