Jun 28, 2023 09:35 PM

TECH

Subsidiaries of Stalled Chinese EV Startup Byton Face Liquidation

By An Limin and Ding Yi

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A Byton car sits on display at Mobile World Congress 2018 in Shanghai. Photo: VCG

A Byton car sits on display at Mobile World Congress 2018 in Shanghai. Photo: VCG

Two subsidiaries of electric-vehicle (EV) startup Byton Ltd. are facing potential bankruptcy liquidation after a Chinese court accepted applications from several creditors to force the businesses to begin the process.

The proceedings are the latest in a series of blows for Nanjing-based Byton, which has yet to start mass production of its first model, originally scheduled to hit market in the fourth quarter of 2019. The firm has largely been out of action for three years after suspending its China operations in 2020 due to financing issues.

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