Jul 26, 2023 08:28 PM

BUSINESS

Probe Clears Local Government Accused of Crippling China EV Startup

By Ding Yi and Yu Cong

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Visitors check out a Levdeo vehicle at a store in Haikou on Oct. 31, 2021. Photo: VCG

Visitors check out a Levdeo vehicle at a store in Haikou on Oct. 31, 2021. Photo: VCG

The decision by a local government to reject renewing a loan guarantee for troubled mini electric-vehicle (EV) startup Levdeo was in compliance with regulations, a joint investigation team said on Tuesday as it wrapped up a probe into a claim by the automaker’s founder in January that the refusal led to a production halt and undermined its financing efforts.

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