Byton, the Chinese EV startup that revealed its first production-ready vehicle in 2019, has filed for bankruptcy in its home country, according toTwo companies, Nanjing Zhixing New Energy Vehicle Technology Development Co., Ltd., and Nanjing Zhixing Electric Vehicle Co., Ltd., both of which are related to Byton, had their bankruptcy cases filed last month, crushing hopes for the company's sole vehicle – the M-Byte SUV – of ever reaching series production status.
Furthermore, in 2021, its main business unit, Nanjing Zhixing New Energy Vehicle Technology Development, was forced in court by a creditor to begin the bankruptcy procedure.in October 2019 at the company's new manufacturing facility in Nanjing, China, with the firm reportedly receiving more than 50,000 reservations for the zero-emissions vehicle.
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