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Auto Shows Chinese electric car manufacturer Byton stops production

13:51  30 june  2020
13:51  30 june  2020 Source:   de.reuters.com

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Byton is a Chinese all- electric vehicle automotive brand established in 2017 and incorporated in Byton unveiled its first concept car to the public in January 2018.[2] The company is currently It plans to introduce its M-Byte SUV model first, with the start of production scheduled for late 2019.

General Manager of Nanjing BYTON Electric Vehicle Corporation. He has a profound understanding of the Chinese market with deep insights into technological developments and vehicle production . Nanjing BYTON Electric Vehicle Corporation is a subsidiary of BYTON focused on the company’s

The Byton M-Byte all-electric SUV, expected to enter mass production this year, is displayed at a news conference during the 2020 CES in Las Vegas © Reuters / STEVE MARCUS The Byton M-Byte all-electric SUV, expected to enter mass production this year, is displayed at a news conference during the 2020 CES in Las Vegas

Shanghai ( Reuters) - The corona crisis puts the Chinese electric car maker Byton in trouble.

The company, which was set up three years ago with ambitious expansion plans, announced on Tuesday that production would be suspended from July 1 in order to reorganize itself. "The new coronavirus pandemic has created major challenges for Byton's financing and operations," said the company, whose investors include state-owned automaker FAW and battery maker CATL. After consultation with the shareholders, the decision was therefore taken to launch a plan to reduce personnel costs and to strategically reorganize.

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In the electric vehicle (EV) world, 2018 is shaping up to be the year of Chinese electric vehicles and global Byton — International, With Big Aspirations. As with most serious startup contenders, Byton has a key Byton hopes to deliver an annual production of 250,000 to 300,000 EVs fairly soon.

The market for electric cars in China is booming, supported by subsidies and other incentives like free license plates and free parking places and public charging stations are now popping up everywhere. In 2015 sales of new-energy vehicles ( electric and plug-in hybrids) stood at 188,700 units, up a

Byton is one of a series of newly founded Tesla challengers with which China wants to build its own e-car industry. The start-up from Nanjing was one of the few who were trusted to gain a foothold outside of China. At several auto shows, most recently at the IAA in Frankfurt last year, the management drummed for the M-Byte electric SUV, which is also to be launched in Europe in 2021.

It was only in April that the Electrek service reported that Byton had sent hundreds of employees on vacation to Santa Clara, California. Byton was launched in September 2017 by Future Mobility, a company co-founded by former BMW and Nissan managers.

California Sets Bold Goal: 100,000 Electric Trucks Within 10 Years .
It could transform the trucking industry—and not just in the state.Trucking is a massive industry that helps to keep vital goods circulating around the country every day, but there are growing pains as technologies like driver tracking software, autonomous vehicles, and now electric and hybrid trucks enter the increasingly crowded marketplace. Even so, electric truck startups have rushed to fill a desire in the market, especially in city contexts where electric fleets could serve utilities and others who make short daily circuits.

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