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Caixin

China EV startup Byton misses payroll as bankruptcy looms

Partners FAW, Nanjing government and Foxconn appear to lose interest

Byton, which unveiled its first M-Byte concept car in 2018, has yet to start commercial production.   © AP

Byton, a formerly highflying Chinese electric-vehicle startup, missed payments to workers and idled production lines as a local court started bankruptcy hearings.

A court in Nanjing, Jiangsu province, held a hearing Monday on the request of Shanghai Huaxun Network System Co., a Byton creditor. Shanghai Huaxun demanded a bankruptcy proceeding for Nanjing Zhixing New Energy Vehicle Technology Development Co., Byton's main business unit.

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