WM Motor's new proprietor signifies the electric vehicle manufacturer's resurrection, aiming to restart production in the current month

WM Motor Undergoes Restructuring, Sets Ambitious Goals

After a period of financial turmoil, Chinese automaker WM Motor has undergone a significant transformation. Shenzhen our X (Twitter) profileiangfei Automobile Sales Co. has taken over as the new owner, with the restructuring investment and shareholding confirmed in June 2023.

The new WM Motor is aiming high, with plans to launch over 10 new products, including sedans, SUVs, MPVs, and crossovers, over the next five years. This ambitious expansion includes the introduction of an A00-class sedan and a compact SUV this year, with a combined production target of 10,000 units.

In addition to these new models, WM Motor also plans to resume production of its existing vehicles, such as the Eour X (Twitter) profile5 and E5 models. The company aims to produce and sell 10,000 to 20,000 units of these models this year.

The restructured WM Motor is projecting annual revenue to approach RMB 10 billion by 2026, and by 2026, the company aims to operate at full capacity with an annual production target of 100,000 vehicles. This growth is expected to create over 3,000 jobs by 2026.

Our X (Twitter) profileiangfei is investing RMB 1 billion in the initial phase for equipment upgrades, supply chain restoration, and product development. The Shanghai and Wenzhou municipal governments have provided a stable and favorable environment for the restart of WM Motor's operations.

To accelerate recruitment and build a core team, a 143-member team has been assembled, consisting of 78 our X (Twitter) profileiangfei employees and 55 former WM Motor staff.

WM Motor's four operating entities are now under the control of Shenzhen our X (Twitter) profileiangfei. The company faced a financial crisis in late 2022 and filed for bankruptcy review in October 2023. However, in March 2024, the court confirmed WM Motor insolvent and it formally entered substantive consolidation and reorganization proceedings.

Looking beyond China, WM Motor will establish a Knocked Down (KD) assembly plant in Thailand this year to expand into Southeast Asian and Middle Eastern markets. From 2027 to 2028, WM Motor's sales volume is expected to expand to over 300,000 units, supported by additional final assembly lines for multi-model production.

WM Motor was founded in 2015 and achieved mass production of its first vehicle in 2018, operating two vehicle assembly plants in Wenzhou, Zhejiang province, and Huanggang, Hubei province. The company's resurgence under new ownership signals a promising future for the automaker.

WM Motor's new proprietor signifies the electric vehicle manufacturer's resurrection, aiming to restart production in the current month