Xiangfei Motors takes over four WM Motor companies and resumes production of the EX5 and E5 models.

Xiangfei Automobile has taken over the management of WM Motor's four subsidiaries and is currently resuming mass production of the EX5 and E5 models at its Wenzhou base. Shenzhen Xiangfei Automobile Sales Co., Ltd. (Xiangfei) will become the restructuring investor and new shareholder of WM Motor Technology Group Co., Ltd., WM Smart Mobility Technology (Shanghai) Co., Ltd., Suzhou WM Smart Mobility Technology Co., Ltd., and WM Motor Manufacturing Wenzhou Co., Ltd. (collectively, the "Four WM Companies").