A few days ago, according to overseas media reports, the Munich District Court of Germany ordered the temporary bankruptcy management of Byton GmbH, a German subsidiary of China electric vehicle startup Baiteng Automobile.
Baiteng is a brand of new energy vehicles under Nanjing Zhixing New Energy Technology Development Co., Ltd., and its design center responsible for vehicle design and product concept research and development is located in Munich, Germany.
This brand of electric vehicles, which was founded on 20 17, is somewhat "low-key" compared with new head forces such as Weilai, Ideality and Tucki. For people unfamiliar with cars, its first "fame" was probably named by CCTV in June 2020-it burned 8.4 billion yuan to make a production car, and it still owed more than four months.
Since last year, the news about the financial difficulties of Baiteng has been endless. In April, 2020, Barton Company's American branch arranged 50% employees to take vacations. 202 1, 1, all companies in China (excluding Hongkong) will continue to have a "holiday" for half a year after they stop production.
Until June of this year, 5438+ 10, Baiteng, who had been shut down for a long time, seemed to welcome his savior-Foxconn. 65438+1On October 4th, Baiteng Automobile signed a strategic cooperation framework agreement with Foxconn Technology Group and Nanjing Economic and Technological Development Zone to jointly speed up the manufacturing of the first model M-Byte of Baiteng and strive to achieve mass production before the first quarter of 2022.
Foxconn will provide advanced manufacturing technology, operation management experience and industrial chain resources for Baiteng, and fully support the mass production of Baiteng's first model M-Byte, but it has not made a positive response to the rumor that it planned to invest 200 million US dollars in Baiteng.
The implication is: I have come to save you, but I have no money with me. Therefore, for Baiteng Automobile, which has a large funding gap, there is still uncertainty about the resurrection.
However, until the Munich District Court ordered the temporary bankruptcy management of Baten's German subsidiary, there was no news about the aftermath of the overseas subsidiary. Michael ball, a partner of Baker Law Firm and a Munich lawyer, will be the temporary bankruptcy administrator.
Earlier, foreign media reported that Byton GmbH, a German subsidiary of Baiteng, had been vacant for several months. It is reported that the reason is not only because of the epidemic and home office, but also because the lease has been terminated.