EV owners face software blackouts as startups go under in China
Chinese EV startups face financial troubles, with WM Motor's bankruptcy leaving drivers unable to access essential app features. Over 160,000 owners worry about vehicle serviceability amid shifting consumer preferences.
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As Chinese electric vehicle (EV) startups face financial difficulties, owners are experiencing significant issues with their vehicles, particularly regarding software functionality. The bankruptcy of WM Motor, a notable EV manufacturer, left many drivers unable to access essential features through the company's smartphone app, which controls various functions of the car. This situation highlights the risks associated with the increasing reliance on software and cloud services in modern EVs, often referred to as "smartphones on wheels." With over 20 EV makers having exited the market since 2020, approximately 160,000 car owners are now concerned about the long-term serviceability of their vehicles. The Chinese government has introduced new subsidies to support struggling manufacturers, but the market is shifting as consumers increasingly prefer established brands like BYD and Tesla over newer startups. Analysts suggest that while the market will continue to face pressure, sudden collapses are unlikely in the near term. The situation raises questions about the future of EV ownership in China, particularly regarding access to software updates and parts for vehicles from defunct manufacturers.
- Chinese EV owners face software issues as startups go bankrupt.
- WM Motor's bankruptcy has left many drivers unable to use essential app features.
- Over 160,000 car owners are concerned about the serviceability of their vehicles.
- Consumers are shifting towards established brands due to bankruptcy risks.
- The Chinese government is providing subsidies to support struggling EV manufacturers.
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