Plug Pulled: Byton Suspends Production, Plans Reorganization

Chinese electric car startup Byton will reportedly idle production next month as it attempts to reorganize itself. While the coronavirus emerged as a villain in this play, the issues confronting Byton actually seem pretty dire. The company isn’t just idling factories to address a health crisis, it’s shutting things down for six months while it engages in more fundraising and tries to pay what’s owed to employees.

That’ll be tough with no normal income. Byton has already furloughed a large portion of its staff in California and plans to cease all production in Nanjing. While we knew the PRC’s approach to electrification would ultimately result in countless EV startups going under, we didn’t expect Byton to be among them. Slick products, good marketing, and interesting designs made it seem like it could go the distance — now it seems wholly preoccupied with survival.

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LeEco Lays Off Majority of U.S. Employees; Likely More Bad News for Faraday Future

China’s Netflix equivalent, LeEco, confirmed it would be eliminating the better part of its North American workforce today. LeEco has recently gotten involved in a myriad of expensive tech-focused endeavors that have wound up screwing its finances six ways from Sunday. One of those projects was serving as the primary financial backer of America’s Faraday Future, the electric car company we’ve been scrunching our faces at for over a year now.

Faraday seems to have encountered or created every problem an automotive startup could imagine and, with its primary source of income shrinking its U.S. employee base by 70 percent, things have never looked worse.

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Another Chinese Company is 'Planning to Sell' an Electric Luxury Car in the U.S.

If you don’t remember Hybrid Kinetic Group, that’s because it nearly vanished from western news after promising to build a 1.5 billion dollar factory in Alabama for its $300,000 hybrid-electric. That factory, planned in 2009, ended up being unable to secure financing after receiving some state-sponsored help to get the ball rolling. It’s a similar story to what happened to a company, ran by the former CEO of China’s Brilliance Auto, in Mississippi and the contemporary situation with Faraday Future in Nevada. In the case of Hybrid Kinetic, the firm managed to secure some visas and financial aid from Alabama before pulling out of the United States in 2011 — presumably never to be heard from again.

However, earlier this month, HK made an appearance at the Geneva International Motor Show with a car that it now says it fully anticipates selling on the American market. The sedan is the result of a 68 million dollar deal with Italian design house Pininfarina to assist the Chinese company in producing a handsome and — more importantly — real electric luxury vehicle for the global marketplace.

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  • Inside Looking Out Why EBFlex dominates this EV discussion? Just because he is a Ford expert?
  • Marky S. Very nice article and photos. I am a HUGE Edsel fan. I have always been fascinated with the "Charlie Brown of Cars." Allow me to make a minor correction to add here: the Pacer line was the second-from-bottom rung Edsel, not the entry-level trim. That would be the Edsel Ranger for 1958. It had the widest array of body styles. The Ranger 2-door sedan (with a "B-pillar", not a pillarless hardtop), was priced at $2,484. So, the Ranger and Pacer both used the smaller Ford body. The next two upscale Edsel's were based on the Mercury body, are were: Corsair, and, top-line Citation. Although the 1959 style is my fav. I would love a '58 Edsel Pacer 4-door hardtop sedan!
  • Lou_BC Stupid to kill the 6ft box in the crewcab. That's the most common Canyon/Colorado trim I see. That kills the utility of a small truck. The extended cab was a poor seller so that makes sense. GM should have kept the diesel. It's a decent engine that mates well with the 6 speed. Fuel economy is impressive.
  • Lou_BC High end EV's are selling well. Car companies are taking advantage of that fact. I see quite a few $100k pickups in my travels so why is that ok but $100k EV's are bad? The cynical side of me sees car companies tack on 8k premiums to EV's around the time we see governments up EV credits. Coincidence? No fooking way.
  • EBFlex "I'd add to that right now, demand is higher than supply, so basic business rules say to raise the price."Demand is very low. Supply is even lower. Saying that demand is outstripping supply without providing context is dishonest at best.