Financially Troubled WM Motor Sees About Half of Its Shanghai Stores Close, Report Says
Financially Troubled WM Motor Sees About Half of Its Shanghai Stores Close, Report Says
"Most of WM Motor's stores in malls in Shanghai are closed," the report said, citing a salesperson who used to work for the electric vehicle (EV) company.The number of WM Motor stores in Shanghai has been reduced from about 20 to about 12, and most of the stores in the city's shopping malls have closed, according to local media.
据当地媒体报道，WM汽车在上海的门店数量已经从大约20家减少到大约12家，该市购物中心的大部分门店已经关闭。
In addition to employee pay cuts, a number of WM Motor's stores were closed, highlighting its financial woes.
除了员工减薪，WM汽车的多家门店也关门了，突显出该公司的财务困境。
WM Motor's stores in Shanghai were reduced from about 20 to about 12, according to a report in local media outlet IT Times on Thursday.
根据当地媒体IT Times周四的一篇报道，WM汽车在上海的门店从大约20家减少到大约12家。
"Most of WM Motor's stores in malls in Shanghai are closed," the report said, citing a salesperson who used to work for the electric vehicle (EV) company.
报道援引一位曾在这家电动汽车(EV)公司工作的销售人员的话说，WM汽车在上海商场的大部分门店都关闭了。
The salesman said he left his job in July after the store he worked at closed. He added that many of the cars WM Motor sells now are inventory vehicles.
这位销售员说，在他工作的商店关门后，他于7月份辞去了工作。他补充说，WM汽车现在销售的许多汽车都是库存车辆。
WM Motor's website shows it has 17 stores in Shanghai, with another opening soon. But not all of the stores are accessible by phone, the report said.
WM汽车的网站显示，该公司在上海有17家门店，不久还将开设另一家门店。但报告称，并不是所有的商店都可以通过电话访问。
WM Motor originally had about 20 stores in Shanghai, but now there are only about 12 left, with only 5-6 stores left with both pre-sales and after-sales functions, the report said, citing a dealership source.
报道援引一位经销商消息人士的话称，WM汽车最初在上海有大约20家门店，现在只剩下大约12家，只剩下5-6家门店同时具备售前和售后功能。
Some stores have recently closed, but WM Motor's website is not up to date with the information, the source said.
消息人士称，一些门店最近关门了，但WM汽车的网站没有更新相关信息。
WM Motor's Hong Kong IPO prospectus filed in June showed it had 621 partner stores as of December 31, 2021, a 2.4-fold increase from the previous year.
WM汽车6月份在香港提交的IPO招股说明书显示，截至2021年12月31日，该公司拥有621家合作门店，同比增长2.4倍。
However, of those 621 stores, only three are WM Motor's directly operated stores, located in Shanghai and Beijing.
然而，在这621家门店中，只有三家是WM汽车的直营店，分别位于上海和北京。
As a comparison, the number of NIO, XPeng Motors and Li Auto stores in 2021 are 289, 259 and 165 respectively.
相比之下，2021年蔚来、小鹏汽车汽车和理想汽车的门店数量分别为289家、259家和165家。
The rapid expansion of WM Motor's sales network is due to its direct, franchised, and affiliate sales models. But this has also led to chaos in its distribution network, with many dealers forced to sell at reduced prices to keep their capital chains from breaking, the report said.
WM汽车销售网络的快速扩张得益于其直接、特许和附属销售模式。但报告称，这也导致了其分销网络的混乱，许多经销商被迫降价出售，以防止他们的资金链断裂。
WM Motor, one of the first EV startups to meet in China, had been actively publishing monthly sales figures in 2020, but has often not been publishing that figure since last year.
WM汽车是首批在中国会面的电动汽车初创企业之一，该公司一直在积极发布2020年的月度销售数据，但自去年以来经常没有发布这一数据。
In 2019-2021, WM Motor's car sales were 12,799, 21,937 and 44,152 units, according to its prospectus.
招股说明书显示，2019-2021年，WM汽车的汽车销量分别为12,799辆、21,937辆和44,152辆。
From January to October this year, WM Motor sold less than 30,000 units in total, including just 1,117 units in October, the IT Times report noted.
IT时报的报告指出，今年1月至10月，WM汽车的总销量不到3万辆，其中10月份仅售出1117辆。
The sharp decline in sales has put the company under financial pressure.
销售额的急剧下降给该公司带来了财务压力。
On November 21, WM Motor CEO Shen Hui listed in an internal letter to all employees initiatives to ease the financial pressure, including a 50 percent pay cut for management and a 30 percent pay cut for general employees, according to a report by ifeng.com.
据凤凰网报道，11月21日，WM汽车首席执行官沈晖在一封致全体员工的内部信中列出了缓解财务压力的举措，包括管理层减薪50%，普通员工减薪30%。
In addition to the pay cuts, WM Motor has initiated layoffs at its Shanghai headquarters, while outsourced company personnel are also leaving on a large scale, according to the report by IT Times.
据《IT时报》报道，除了减薪，WM汽车还在上海总部启动了裁员，而外包公司的员工也在大规模离职。
