Instances of the new ViewModel class can survive configuration changes if used in the following fashion:
mViewModel = ViewModelProviders.of(this).get(MyViewModel.class);
However, in addition to configuration changes, there is also a save-restore scenario when the entire application's process is being killed.
Will fields' values inside ViewModel be preserved during save-restore scenario?
Edit: based on the answer to this question, I wrote this article: Android ViewModel Architecture Component is Dangerous