About WM Motor
WM Motor is engaged in the design and manufacturing of electric vehicles. It provides two vehicle platforms software-defined vehicles (STD) and PL. The company was founded in 2016 and is based in Shanghai, China. In October 2023, WM Motor filed for bankruptcy.
Research containing WM Motor
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned WM Motor in 1 CB Insights research brief, most recently on Sep 15, 2021.
Expert Collections containing WM Motor
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
WM Motor is included in 1 Expert Collection, including Auto Tech.
Companies working on automotive technology, which includes vehicle connectivity, autonomous driving technology, and electric vehicle technology. This includes EV manufacturers, autonomous driving developers, and companies supporting the rise of the software-defined vehicles.
Latest WM Motor News
Oct 18, 2023
Pandaily Add to FavoritesAdded to Favorites Freeman Shen (Chinese name: Shen Hui), the founder and chairman of WM Motor, is reported to have flown to New York on October 16, using the excuse of attending the Munich Auto Show in Germany. He left behind nearly 40 billion yuan worth of investments and debts as well as unpaid salaries of WM Motor employees. WM Motor is one of the earliest EV manufacturers in China, acquiring investments from firms such as Baidu , with a total fundraising amount exceeding 41 billion yuan. However, WM Motor’s performance in the market has not been as expected. It attempted to go public three times, but all ended in failure. An insider close to Freeman Shen revealed to Chinese media National Business Daily, that Shen is indeed no longer in China. Since the Spring Festival of 2023, he has not made any public appearances at the company, and his family had relocated to the United States. While the IP address displayed on Shen’s Weibo account still shows Beijing, it is believed that Shen has designated someone else to manage the account for him. According to China’s National Enterprise Bankruptcy Reorganization Case Information Network, WM Motor has applied for bankruptcy reorganization. On October 10, WM Motor issued a notice letter through its official Weibo account stating that, considering the company still holds commercial value and potential for recovery, with a sound corporate governance structure in place and some creditors expressing willingness to participate in the reorganization, their pre-reorganization application has been accepted by the court. WM Motor was established in May 2012, with a registered capital of 6 billion yuan. According to publically disclosed risk information, the company has more than 20 instances where it is deemed a “judgment debtor”, with a total amount exceeding 100 million yuan to repay. In addition, the company and its holdings in multiple companies have been frozen, with a cumulative amount exceeding billions of yuan. According to the IPO prospectus disclosed by WM Motor, its net loss attributable to shareholders in during 2019 to 2021 was RMB 4.445 billion, RMB 5.084 billion, and RMB 8.205 billion respectively, with a total loss of RMB 17.4 billion over the three years. By 2021, WM Motor had in effect become insolvent. Faced with a huge funding gap, WM Motor has been seeking an IPO and has made three attempts, all of which failed. However, WM Motor has not given up. According to the news from Kaixin Auto’s WeChat official account, on September 11th, Kaixin Auto Holdings announced signed a non-binding letter of intent for acquisition with WM Motor, which plans to issue a certain number of new shares to acquire 100% equity held by its shareholders. Sign up today for 5 free articles monthly! Sign in with google
WM Motor Frequently Asked Questions (FAQ)
When was WM Motor founded?
WM Motor was founded in 2016.
Where is WM Motor's headquarters?
WM Motor's headquarters is located at China Construction Jinxiu Tiandi, No. 666 Huiheng Road, Qingpu District.
What is WM Motor's latest funding round?
WM Motor's latest funding round is Bankrupt/Admin.
How much did WM Motor raise?
WM Motor raised a total of $6.573B.
Who are the investors of WM Motor?
Investors of WM Motor include Agile, PCCW, GF Xinde Investment Management Co., Shun Tak Group Co, Bank of Shanghai and 43 more.
Who are WM Motor's competitors?
Competitors of WM Motor include Hozon Auto and 3 more.
Compare WM Motor to Competitors
BYTON is an intelligent electric-vehicle company. Its crafted cars integrate advanced digital technologies to offer customers a smart, safe, comfortable, and eco-friendly driving and mobility experience.
Hozon Auto focuses on the research, development, and manufacturing of new Energy Vehicles (NEV). It also provides intelligent electric vehicles, electric passenger cars, parts, and other related products. The company was founded in 2014 and is based in Shanghai, China.
Gooosun provides core electronic components and power systems for new energy vehicles. The company was founded in 2015 and is based in Shenzhen, China.
Jeve focuses on the design, development, manufacturing, and sales of lithium-Ion power batteries for new energy vehicles. The company was founded in 2009 and is based in Tianjin, China.
Enneagon Energy develops and produces new energy vehicle charging equipment and provides charging station operation services. The products include smart in-vehicle terminals, charging posts, mobile and cloud platform, and more. The company was founded in 2014 and is based in Shanghai, China.
NIO (NYSE: NIO; HKEX: 9866; SGX: NIO) is an automobile manufacturing company that designs and develops smart electric vehicles. It researches, develops, and manufactures technologies in autonomous driving, digital technologies, electric powertrains, and batteries. The company was founded in 2014 and is based in Jiading, China.