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CHINESE ELECTRIC VEHICLES STARTUP BYTON IS AT RISK OF BANKRUPTCY

... not debut in 2019. The company itself underwent personnel changes, and at the end of the year, the COVID-19 pandemic began in China. Already in 2020, the company sent employees (about 1.5 thousand people) on unpaid leave, and the activities of the enterprise ... ... true. While competing companies (Xpeng and Nio) have successfully launched similar models of electric cars on the market, the Byton brand is still only a project. In the middle of last year, the firm made a decision to suspend corporate reorganization ...

German subsidiary of Byton declared bankrupt

... and ruled on the bankruptcy of the company. Michael Bauer was appointed as interim manager. Kirchert himself, according to sources in Germany, demanded to file for bankruptcy a year before, but resigned without finding support from the leadership in China. It is interesting that the German office of Byton was declared bankrupt three months after the media reported on the contract signed by the head office in China (Nanjing Development Zone) and the Taiwanese company Foxconn (iPhone supplier). In January 2021, both companies announced that they planned ...

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