Chinese electric vehicle (EV) startup WM Motor has officially filed for bankruptcy. The Shanghai Third Intermediate People’s Court has processed the bankruptcy application, as disclosed in a recent announcement on the national enterprise bankruptcy information platform. WM Motor, once considered a promising contender among China’s EV manufacturers, is now navigating the challenging terrain of bankruptcy […]

China’s auto-chip startup Black Sesame Technologies has recently announced that it has raised “hundreds of millions of dollars” from Xiaomi Corp and other investors as the country fast-tracks the development of its semiconductor industry. Black Sesame Technologies said that its valuation is nearly $2 billion after this funding. Led by Hubei Xiaomi Yangtze Industrial Fund […]