ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Baoneng auto unit defaults on $434m trust loan

Debt woes mount for Yao Zhenhua's new-energy vehicle company

The Qoros Auto display at the Shanghai International Popular Science Products Expo in 2018. Baoneng's auto unit acquired a 51% stake in Qoros in 2017.   © AP

Shenzhen-based Baoneng Investment Group missed repayments on yet another debt to finance its unrealized automaking dream, underscoring the deepening capital crunch of the once-highflying private conglomerate.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more