Tech

EV maker Byton halts operations for six months amid financial woes

EV maker Byton halts operations for six months amid financial woes

Another luxury electric car maker is taking drastic action in light of financial trouble. Chinese firm Byton has told The Detroit Bureau and The Verge that it’s stopping operations for “at least” six months due to financial struggles exacerbated by the COVID-19 pandemic. Most China-based workers will be furloughed, with just a “small group” staying active in case they’re needed, according to spokesperson Dave Buchko.

The decision comes despite Byton having the support of state-controlled car giant First Auto Works, although Buchko noted that Byton had made it further than many of its rivals with a completed factory and a handful of EVs produced to clear regulatory tests. With car markets reeling, though, the company didn’t know when it would start shipping cars, let alone find enough paying customers.

About the author

Sharon Ross

Sharon Ross

Sharon Ross has been phenomenal in the success of Report Door. She is the super dedicated types, always glued to her computer. She talks less, but when it comes to work, she is behind none. She is a tech geek and contributes to the technology section of Report Door.

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