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SINA Corp news, October 14 evening — Today, WM Motor's official public account suddenly updated, publishing an article titled "Day One: B-Energy Automobile, Please Pay Us Our Wages." However, the article was deleted shortly after being published.
Records show that WM Motor was founded in 2015 and was once known alongside NIO, XPeng, and Li Auto as the "Four Little Dragons" of new energy vehicle startups. In 2023, issues of unpaid wages and supplier debts erupted; in 2024, a court confirmed it was insolvent and it formally entered substantive consolidated restructuring proceedings.
In September 2025, WM Motor's restructuring investor Shenzhen Xiangfei Automobile Sales Co., Ltd. published a "White Paper to Suppliers" through WM Motor's official WeChat account, announcing it would take over WM Motor's four companies, planning to invest 1 billion yuan to resume production of the EX5 and E5 models, and proposing a "three-step" business development plan.
The presence of Baoneng Automobile emerged behind Xiangfei Automobile, whose legal representative is the actual controller of a Baoneng Automobile subsidiary. In November 2025, WM Motor once announced that the Xiaowei Suixing App had been relaunched on iOS and Android platforms, successfully restoring its main functions.
However, SINA Corp tech's actual testing found that the app can no longer be found in multiple app stores, cannot be logged into normally, and the customer service phone number is also unreachable.
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