According to figures published by the Economist, 83% of companies that reach bankruptcy court in China have to be liquidated, while only 5% of bankrupt American
This week, the Chinese company database Tianyancha informed that EV maker Letin filed for bankruptcy. It raised the question of whether former Chinese LSEV (low-speed electric vehicle) manufacturers can compete in the upstream segment with standard electric vehicle makers.
Musk''s words accurately reflect the predicament faced by Chinese electric vehicle companies, who are struggling for profits and cash flow. According to curre...
Many of the ride-hailing companies that were early adopters of EVs have gone out of business. There are now around 100 Chinese electric-car makers, down from roughly 500 in 2019 .
Founded by Ding Lei in 2017, Human Horizons launched its business in China''s electric vehicle market in a very extravagant style in 2020. Auto analysts have said many times that of all the Chinese electric car brands that have been created every year in China, only a few will survive. After several bankruptcies it is the turn of Human Horizons
Asking where the largest companies in the world are located and where the biggest recent bankruptcies have taken place will give, quite unsurprisingly, the same answer. Due to Covid-19, the US economy suffered its most severe contraction in over a decade. Businesses from other countries with a large chunk of their operations in the US suffered equally.
Data show that there were 155 power battery companies in China in 2017; in 2018, this number fell to 105; by this year, there are only 80 power battery manufacturers, of which only about 40 can truly achieve installed
On August 9, 2024, we reported on the declared bankruptcy of China-based luxury EV maker HiPhi, which faces an uncertain future as its parent company, Human Horizons, enters a pre-reorganization phase after filing for bankruptcy.
Data show that there were 155 power battery companies in China in 2017; in 2018, this number fell to 105; by this year, there are only 80 power battery manufacturers, of which only about 40 can truly achieve installed capacity. Watma''s predicament is only a microcosm of the power battery industry. The 2020 knockout will become increasingly
(Yicai) Sept. 19 -- The 15 Chinese new energy vehicle startups that are struggling or have gone bankrupt amid cut-throat competition have total idle capacity of almost 3.8 million cars a year,
Several dozens of insurance companies, including big names in the business, have gone bankrupt in the United States in the course of the recent 30 years. Bankruptcy of AIG case. AIG was seriously affected by the 2008 financial
This week, the Chinese company database Tianyancha informed that EV maker Letin filed for bankruptcy. It raised the question of whether former Chinese LSEV (low-speed
Poland may not be the first country you think of when it comes to military aircraft, but the Skorpion fighter jet is proof that surprises can come from anywhere!
And it''s not just about factories in China anymore; Chinese firms have set up shop in Europe too. Last year, CATL inaugurated its first non-Chinese plant in Arnstadt,
China''s dominance in the battery market is staggering. According to SNE Research, more than half of all electric car batteries built in the world come from Chinese companies, with CATL alone accounting for over one-third of global production. And it''s not just about factories in China anymore; Chinese firms have set up shop in Europe too.
On August 9, 2024, we reported on the declared bankruptcy of China-based luxury EV maker HiPhi, which faces an uncertain future as its parent company, Human Horizons, enters a pre-reorganization phase after filing for bankruptcy. The brand roller-coaster-speed rise and fall can be seen as a cautionary tale for the industry. But theirs is not
The number of electric car battery manufacturers tumbled to 52 last year from 72 in 2020. Most of those that closed down were small and medium-sized companies unable to compete with the bigger players, such as Contemporary Amperex Technology and BYD, Wan Cheng, deputy general manager of a supplier of lithium battery firm in eastern China, told
More U.S. companies have gone bankrupt in 2023 so far than all of 2022 or 2021 Companies are struggling with high interest rates and a tight labor market. Last Updated: Sept. 13, 2023 at 6:40 a.m
And it''s not just about factories in China anymore; Chinese firms have set up shop in Europe too. Last year, CATL inaugurated its first non-Chinese plant in Arnstadt, Germany. The facility churns out enough batteries annually to power 200,000 to 350,000 electric cars, depending on battery size — a total capacity of 14 gigawatt-hours.
About 1,417 power battery recyclers in China closed down this year as of yesterday, up nearly 97 percent from a year earlier, according to data from corporate
According to figures published by the Economist, 83% of companies that reach bankruptcy court in China have to be liquidated, while only 5% of bankrupt American companies suffer the...
About 1,417 power battery recyclers in China closed down this year as of yesterday, up nearly 97 percent from a year earlier, according to data from corporate information platform Qichacha. Meanwhile, the number of such companies shutting down last year soared 142 percent to 6,984.
For many of the companies on the list, large-scale crises like the housing bubble of 2007 or the economic recession of 2009 served as catalysts for ruin. Other companies failed due to human hubris, corrupt accounting practices, and mega miscalculations. Read on for a history of the 20 biggest bankruptcies of the last three and a half decades.
The number of electric car battery manufacturers tumbled to 52 last year from 72 in 2020. Most of those that closed down were small and medium-sized companies unable to
Following is the curated list of major companies that have recently filed for bankruptcy. Subscribe to Intellizence to monitor negative and adverse news in companies like bankruptcy and layoffs for sales intelligence, competitive intelligence, customer intelligence, market intelligence, and risk intelligence.
Between EV companies that have filed for bankruptcy and those that have halted operations, an estimated 160,000 Chinese car owners are left in the lurch, according to
The Chinese EV market is highly fragmented. Many manufacturers have high debts but hardly any sales. Consolidation could also benefit German manufacturers.
Between EV companies that have filed for bankruptcy and those that have halted operations, an estimated 160,000 Chinese car owners are left in the lurch, according to the China Automobile Dealers Association.
(Yicai) Sept. 19 -- The 15 Chinese new energy vehicle startups that are struggling or have gone bankrupt amid cut-throat competition have total idle capacity of almost 3.8 million cars a year, according to Yicai''s calculations based on public information.
Only one of the 20 bestselling EV models in China in the first half of 2024 was made by an EV startup — the Li L6 by Li Auto — and eight of them were from BYD. “Consumers are now factoring in the risk of manufacturers going bankrupt,” Ren said. Tianyu Fang is a writer and researcher living in San Francisco.
Intense price wars and the phasing out of government subsidies have left a number of the nation’s EV manufacturers — estimated at more than 100 — struggling for survival. Since 2020, more than 20 EV makers in China, including Singulato and Aiways, have left the market.
HiPhi is one of the country's most recent failures, with its parent company Human Horizons announcing its bankruptcy in early August 2024. China's legal system makes it difficult for companies to file bankruptcy, and as a result, the situation is usually very dire for those that do end up going bankrupt.
Between EV companies that have filed for bankruptcy and those that have halted operations, an estimated 160,000 Chinese car owners are left in the lurch, according to the China Automobile Dealers Association. Owners are worried about their access to factory parts in future repairs.
Despite having financial backing from some of the country's biggest tech giants, China's WM Motor couldn't carve out a big enough slice of its home market and filed for bankruptcy in October 2023. By the time it ran out of cash, the company's lineup had expanded to five models manufactured across two facilities.
The most high-profile EV maker bankruptcy in recent months has been Fisker, maker of the Ocean SUV. It filed for Chapter 11 bankruptcy in June 2024, after initial order levels for its debut production model fell short of internal expectations.
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