Abstract:
Today, WM Motor’s official account suddenly updated and published an article titled “Day One: B-Energy Automobile, please pay our wages.” However, the article was deleted shortly after being published. Information shows that WM Motor was founded in 2015 and was once known as the "Four Little Dragons" of new car-making forces along with Weilai, Xiaopeng and Ideal. In 2023, problems with wage arrears and supplier arrears broke out; in 2024, the court confirmed that it was insolvent and officially entered the substantive merger and reorganization process.
In September 2025, Shenzhen Xiangfei Auto Sales Co., Ltd., the reorganization investor of WM Motor, released a "White Paper to Suppliers" through WM Motor's official Weibo, announcing that it would take over four WM companies, plan to invest 1 billion yuan to resume production of the EX5 and E5 models, and proposed a "three-step" business development plan. Baoneng Motors appears behind Xiangfei Motors, and its legal representative is the actual controller of Baoneng Motors' subsidiary.
In November 2025, WM Motor issued a document announcing that the Serena Travel App was re-launched on iOS and Android platforms and successfully restored its main functions. However, according to actual testing by Sina Technology, the App cannot be searched for in many application stores, nor can it be logged in normally, and the customer service phone number cannot be reached either.
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