WM Motor files for bankruptcy, causing car owners to worry that vehicle networking functions will be paralyzed

News on October 12: Recently, new energy vehicle manufacturer WM Motor officially filed for bankruptcy, becoming the first emerging automobile company to declare bankruptcy after large-scale delivery, causing widespread concern.

Some WM owners reported that shortly after WM filed for bankruptcy, their vehicles began to experience network failures, and the Bluetooth key functions in the in-vehicle system and mobile app were unavailable, although the navigation was still functioning normally. But the service behind it seems to have stopped.

According to the exposed pictures, WM Motor's mobile application displays error messages such as "Network abnormality, please try again later, data format is incorrect", "Request timeout, please try again later", Many functions in the car are also unavailable.

In addition, some car owners said that they tried to contact WM customer service, but no one answered.

According to the editor’s understanding, in August this year, car owners reported the problem of WM applications not functioning properly on the WM owner forum, including mobile applications. The program can only receive data but cannot control the vehicle. Some netizens expressed concern about this, saying, "At least the collapse of the oil truck company will not affect the use, but the maintenance will be troublesome, but the new energy vehicle company directly shuts down the server. How do I charge it? I can’t even use the app.” Some netizens said that their “smart car” had become a “mentally disabled car.”

Weima Motors once ranked among the leading new forces in China's new energy vehicles, but it has gradually lost its competitiveness in the past two years, with sales falling far behind some competitors. On January 12 this year, WM Motor founder Shen Hui described the company's plight on social media as "survive, live like an animal." However, even so, WM Motor's situation is still not optimistic. WM Motor recently officially submitted an application for bankruptcy review.

According to data from the National Enterprise Bankruptcy and Reorganization Case Information Network, WM Motor Technology Group Co., Ltd. has submitted an application for bankruptcy and reorganization to the Shanghai No. 3 Intermediate People’s Court. Surprisingly, the applicant turned out to be WM Motor itself

WM Motor subsequently issued a statement through social media, stating that the company would not sit still and would actively adjust its corporate strategy, solve financial and debt problems, and strive to Investor support to revive the company. In view of the fact that WM Motor still has commercial and salvage value, the company's governance structure is relatively complete, and it has the ability to conduct independent negotiations. At the same time, some creditors have expressed their willingness to participate in the reorganization. The Shanghai No. 3 Intermediate People's Court accepted the decision on October 7, 2023. WM Motor Technology Group’s bankruptcy reorganization application.

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