IM Motors responds to "dealer bankruptcy"
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On July 21, IM Motors issued an official statement regarding recent business irregularities with some dealerships. The statement said that as of July 17, the company had basically completed communication and clarification with affected users, and from July 18 had gradually resumed the issuance of vehicle certificates and deliveries. It is expected that all orders and deliveries for normal customers will be completed by the end of this week.
The incident was triggered at the beginning of this month.
On July 7, the IM Motors Guandu User Center, operated by Yunnan Kunming Zhiheyuexing Auto Sales & Service Co., Ltd., suddenly closed, with showroom vehicles and office equipment being removed. The company operated three stores in Kunming: Guandu User Center, Nanya No.1 City Experience Store, and Park 1903 Experience Store, all of which have stopped operations.
In its statement, IM Motors confirmed that Kunming Zhiheyuexing suffered a capital chain break due to private lending, causing some users to be unable to obtain vehicle certificates from financial institutions, which in turn made it impossible to register or normally deliver vehicles.
The turmoil then spread to the associated entity Zhuhai Zhiheyuexing Auto Sales & Service Co., Ltd., whose vehicle deliveries in Zhuhai were also affected. Tianyancha data shows that Zhou Nan, the legal representative of Kunming Zhiheyuexing, holds 40% of the shares, and was also a shareholder of Zhuhai Zhiheyuexing—he only withdrew from the Zhuhai company this April.
According to Beijing Youth Auto Times, nearly 300 IM Motors owners have either paid in full but cannot pick up their cars, or picked up their cars but cannot get the certificate and thus cannot register them.
IM Motors stated that on the day of the incident, a special working group was set up, and entered the site the next day, working with the government and coordinating relevant parties to provide follow-up services for users.
As of July 17, IM Motors had basically completed user communication and situation review. For users who have paid but not obtained the certificate, the manufacturer will fully advance the funds to redeem the vehicle certificate; users in Kunming can go to Kunming Hengsheng Zhiyuan Auto Sales & Service Co., Ltd. (IM Delivery Center) for after-sales service, Zhuhai users will be serviced by Anhui Auto (IM Delivery Center). IM Motors also promises to provide free door-to-door pick-up and delivery services for users in Kunming and Zhuhai during the transition period.
IM Motors also pointed out in the statement that some organizations and individuals have maliciously exaggerated the individual case into negative topics such as “multiple IM Motors dealers are in trouble,” affecting the company’s brand reputation and normal business. The company said it has secured evidence of relevant infringements and will use legal means to protect its rights. The statement stressed that national channel operations are currently stable, and 26 new stores opened nationwide in June and July.
Public data shows that IM Motors delivered a cumulative total of 40,087 vehicles nationwide in the first half of 2026, a year-on-year increase of 58%. Its channel system has gradually shifted from an early direct-sales model to a dealer-based model.
This incident also serves as a reminder to the industry that as new energy vehicle companies accelerate the shift to dealer-based models, how to establish sound financial supervision mechanisms for dealers and prevent end users from being harmed by channel risks are new issues the entire industry needs to face together.
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