The Impulso Podcast E105: Collapse of a Chinese EV company, livestreamed
10 snips
Dec 23, 2024 A Chinese EV manufacturer, Ji Yue Auto, faces turmoil as unpaid social security leads to employee distress, with one live streamer breaking down mid-broadcast. The podcast explores Ji Yue's struggles in China's fiercely competitive EV market and the reasons Baidu and Geely withdrew further investment. It also discusses the industry trend of consolidations and bankruptcy, alongside the rising use of live streaming in car sales. The challenges emerging manufacturers confront, especially in a hyper-competitive landscape, are critically analyzed.
AI Snips
Chapters
Transcript
Episode notes
Ji Yue Auto's Background and Challenges
- Ji Yue Auto was a joint venture between Baidu and Geely combining software and manufacturing expertise.
- Despite strong backing, it faced permit issues and had to restructure, showing challenges in China's EV market.
Highly Competitive Mid-Price EV Market
- The Ji Yue 07 sedan targeted the mid-price range, about 199,000 RMB, aiming at China's middle class.
- That segment is extremely competitive, making it tough for new brands to survive.
Parents Cut Funding Despite Big Investment
- Baidu and Geely cut off further funding for Ji Yue after investing about $1.2 billion USD.
- Their decision reflects prioritization of other more sustainable or consolidated ventures amidst market pressures.