WM Motor, a China-owned car company that used to produce cars under the Weltmeister badge, has filed a bankruptcy application to the Court of Shanghai.
The company says it has no intention to fade into obscurity just yet – it continues actively looking for investors in various countries and hopes to restructure its business in a sustainable way to continue operation.
Still, as inspiring as the above words may sound, there is little reason to hope for such an outcome for WM Motor, which had made two unsuccessful attempts to get listed on the exchanges of Shanghai and Hong Kong back when the situation was much less severe. With the Covid outbreak in 2020, the continued uncertainty on the capital market hindering new investment and the EV price war raging in China, the odds of the Weltmeister badge resurfacing on the market any time soon are near zero.