Global pandemic caused by a coronavirus and its restrictions has led to a sharp drop in demand for electric vehicles in several countries, as well as reduced investment. In the automotive industry are the most vulnerable startups that do not yet have businesses that would sell or pawn.
It seems that the first victim of the crisis was Byton. As it became known InsideEVs, from July 1, the company officially sends most of its employees in the semi-annual unpaid leave and terminated almost all of its activities. The activity retains only a small group of managers.
On Twitter you can also find messages that Byton has listed delayed salaries for the last four months, and at the headquarters of the company at the factory in China for the debts of electricity.
Byton was founded by an international team of managers who previously worked at BMW, Tesla and Nissan. They were able to find investments in China and was preparing to establish production of electric crossover M-Byte. The last is remembered as the car with the largest display in the cabin.