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CHINESE ELECTRIC VEHICLES STARTUP BYTON IS AT RISK OF BANKRUPTCY

... (at a price of $ 133 million), thereby received the necessary license for the production of vehicles. The M-Byte model did 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 were actually stopped. The plans to fill the market with electric cars by 2022, apparently, are not destined to come 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 ...

CHINESE ZOTYE AUTO IS ON THE WAY TO BANKRUPTCY

... main investor, Tech-New Group, went bankrupt last year. Aware of the lack of sales data for Zotye for the first half of 2021 in China, many experts decided that the firm was dead. However, after the recent publication of the information that the company ... ... reorganization, published by the Chinese website Autohome, it became clear that the company may still be resurrected. In Russia, Zotye cars were known among a narrow circle of drivers. Their assembly was organized at the Unison plant in Belarus. It is known that ...

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