Expectations were high for WM Motor Holdings Ltd., a Shanghai-based electric-vehicle maker backed by tech giant Baidu Inc. and started by a former Volvo AB executive. Now, it risks becoming yet another casualty of the slow-motion shakeout in China’s crowded EV market.
The North American arm of electric vehicle startup Byton is fighting efforts by a Swiss engineering company to pin a $30 million arbitral award against the startup's Hong Kong-based parent, part of the latter company's strategy to snap up assets it claims are being transferred beyond its reach.
Deserted factories show how China electric car boom went too far gulf-times.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulf-times.com Daily Mail and Mail on Sunday newspapers.
Hon Hai s EV venture with Byton on hold: report taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.