Aug 11, 2023 08:59 PM

TECH

Tech Insider: Regional Automaker’s Dashed EV Dreams, Alibaba’s Comeback

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The future of troubled regional automaker Levdeo is up in the air after a bid to enter a government-mediated bankruptcy reorganization was rejected. Photo: Yu Cong/Caixin

The future of troubled regional automaker Levdeo is up in the air after a bid to enter a government-mediated bankruptcy reorganization was rejected. Photo: Yu Cong/Caixin

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

A regional automaker’s EV dreams hit the wall

In China’s furious push for its firms to climb industrial value chains, some are inevitably being left behind.

But the phenomenon rarely manifests as literally as in the case of Levdeo, a manufacturer of low-speed electric vehicles (LSEVs) that gambled big on a transition to conventional electric cars.

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