China Business Uncovered Podcast: How China’s Tech Elite Got Burned by a Failing Luxury-Car Dealer

Jul.03.2026

Baolide’s founder drew in investors linked to Alibaba, NetEase, Hillhouse and Zhejiang’s private-business circles before the company collapsed into bankruptcy

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Baolide Holdings Group Co. Ltd. was once one of East China’s biggest luxury-car dealers, selling brands from Mercedes-Benz to Rolls-Royce. At its peak, the company ran more than 30 high-end auto dealerships and had a longtime ambition of going public.

But behind the showrooms, Baolide was already under mounting pressure. The company finally collapsed in 2024 under the weight of a luxury auto market downturn, high-interest private borrowing and alleged falsified accounts.

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