Feb 08, 2023 07:44 PM

BUSINESS

WM Motor Dealers Are Turning Out the Lights

By An Limin and Ding Yi

The WM Motor User Center in Fangshan District, Beijing is closed and empty. Photo: An Limin/Caixin

The WM Motor User Center in Fangshan District, Beijing is closed and empty. Photo: An Limin/Caixin

Some dealerships in WM Motor Holdings Ltd.’s network have halted operations due to supply chain disruptions, casting a shadow over the money-losing electric vehicle (EV) startup as it vies with a crowded field of rivals in the world’s largest auto market.

The closures could deal a fresh blow to the Shanghai-based firm, which is exploring a back-door listing in Hong Kong using a smart mobility solutions company backed by billionaire Li Ka-shing.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Powerful Quake Strikes Off Japan

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

China Business Uncovered Podcast: Inside the Fall of ‘China’s LVMH’

00:00

00:00/00:00

MOST POPULAR

1: Chief Designer of China’s J-20 Stealth Fighter Disappears From Elite Academic Roster

2: Exclusive: First Chinese Supertanker Loads Saudi Crude via Red Sea, Bypassing Strait of Hormuz

3: Qatar Helium Shutdown Adds New Risk to Chip Supply Chain

4: In Depth: China’s Apartment Middlemen Lose High-Stakes Bet That Rents Will Only Go Up

5: Former Head of China’s Mega-Firm Steps Down Amid Default Scandal

SPONSORED

OR