The Chinese electric car start-up Byton, once launched with great ambitions, is going bankrupt. One may be tempted to say finally since the danger of going out of business was on the horizon for nearly two years. Yet, we look back at what could have been a great story as well.
The news of a Chinese court having granted the insolvency proceeding to go ahead in June is hardly surprising. Byton has been on the brink of bankruptcy since 2021 when a creditor called for insolvency proceedings for Nanjing Zhixing New Energy Vehicle Technology Development Co Bytons primary business unit. While these did not go ahead that year, It will probably be very difficult for Byton to revive the business, a person close to the company said at the time, an…
Read the full article at: https://www.electrive.com/2023/07/06/byton-files-for-bankruptcy/