WM Motor Affiliate's RMB 127.5 Million External Receivables Auctioned Starting at RMB 100

The administrator of WM Motor's affiliated company, WM New Energy Vehicle Procurement (Shanghai) Co., Ltd., will auction 24 accounts receivable listed on the company’s books on April 27 via Alibaba Auction. The total amount of these receivables is approximately RMB 127.5 million, with a starting bid of RMB 100. The auction notice explicitly states that no guarantees are provided regarding the authenticity, validity, or collectability of these claims, and that the claims may be invalid, uncollectible, or otherwise defective. The debtor list includes companies such as Bosch Automotive and Hella Electronics. As of now, 18 bidders have registered for the auction. WM Motor, one of China’s early EV startups, has entered bankruptcy liquidation proceedings and is currently undergoing restructuring.