Tuesday, May 21, 2024

China brand has not built cars for over a year

Last summer, Chinese media wrote that Aiway's assembly line has been idle since February 2023 because there is no money for wages or suppliers. Now there is something new.

In February last year, the car brand Aiways stopped building cars. There is neither money to pay the employees' wages nor the suppliers' bills.

Production has now been at a standstill for more than a year, but it was only recently that there was some sign of life from the car brand, which is also in Denmark.

Reuters writes that.

According to a spokesman for Aiways, which the news agency quotes, it will now focus on becoming a car brand 'which exclusively exports cars out of China'.

READ ALSO: Fault worth DKK 20,000 kills Martin's Volvo after 800 hours

Since Aiways stopped production last year, they have tried very small trial productions of already existing models such as the U5 and U6. As the brand has tried to hold investors to the fire.

Aiways' PR manager tells Reuters that 'although there is a need for a large investment', the car brand is confident that it can be achieved.

According to Bernd Abel, the investment that Aiways is sure to be able to raise must cover production and development costs.

Right now, the brand is in negotiations with a number of both Chinese and European investors. If it succeeds in getting the money, Aiways hopes to be able to build between 15,000 and 25,000 cars in the next year.

Although the goal is to hit a six-figure production 'within a few years', Aiways is far from the only car brand with pocket pain.

Dane Henrik Fisker has announced that his car brand will seek bankruptcy protection within the next 30 days. Read more about it here .

Read more exciting news from and about the world of cars right here!

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