EV Maker WM Motor Strives to Rescue Business as Pressures Mount

Chinese electric-vehicle maker WM Motor said a Shanghai court has accepted a so-called pre-restructuring application by the company, which is mired in financial difficulty and collapsing sales.

In a statement Tuesday, WM Motor said it will adjust corporate strategy and keep communicating with relevant parties to resolve its financial and debt problems. On Monday, WM Motor was mentioned in a notice on China’s national enterprise bankruptcy information disclosure platform.

WM Motor’s EX5 electric SUV at the auto show in Shanghai in 2019.

Photographer: Qilai Shen/Bloomberg

Just a month ago, Hong Kong-listed Apollo Future Mobility Group Ltd. walked away from a deal to buy the company for $2.02 billion, citing financial market uncertainty and China’s uneven …