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EV brands facing wave of bankruptcies

Top or flop? The Chinese EV brand Ora wants to bring the Cat to Germany.

The reports are piling up. Sometimes more, sometimes less prominent projects on the Chinese car market fail on a regular basis. In August 2022, for example, the driving service provider DiDi filed for bankruptcy. In September, Byton’s liquidator auctioned off a drivable prototype of the brand. By then, the production lines had long been at a standstill. In November, WM Motor announced that manager salaries would have to be cut in half. At the same time, wages would be paid later. The manufacturer faced a total loss of $1.2 billion in 2021 (on 44,000 cars sold).

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