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Pay cuts and layoffs at China's WM Motor show EV Industry stress

Expectations were high for WM Motor Holdings Ltd., a Shanghai-based electric-vehicle maker backed by tech giant Baidu Inc. and started by a former Volvo AB executive. Now, it risks becoming yet another casualty of the slow-motion shakeout in Chinaโ€™s crowded EV market.
Shen Zhou Hong Kong Shen Hui Evergrande New Energy Vehicle Group Ltd Research Center China Automotive Technology

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