The popularity of the youth car company also stems from the company's claim that it could build a car that could generate hydrogen by adding water, and it could run hundreds of kilometers with only the generated hydrogen, and declared to the outside world that this kind of car would be the development direction of new energy vehicles in the future. It is this research and development achievement that makes young car companies full of ambitions and makes them think that they can stand out in domestic new energy car projects.
Youth Automobile Group has set up subsidiaries in many places, such as bankrupt Haining Asset Management Company and Hangzhou Youth Company, all of which are subsidiaries of Youth Automobile Group. These companies mainly produce trucks and buses. Because the competition in the domestic market is too great, and the brand of youth car has been unknown in China, the two companies have been unable to make ends meet and their operating conditions are very bleak, so they declared bankruptcy.
The bankruptcy of these two companies has little impact on their parent company, Youth Group, because although the Youth Automobile Company is in a temporary predicament, the Youth Company Group can slowly get out of the predicament through restructuring, introducing foreign capital or state support, so when the Youth Automobile Group is accused of "bankruptcy liquidation", it can always survive.