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8238 Views 22 Replies 7 Participants Last post by  Lawrence
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Not 100% sure, but given the recent investment, I think it is FAW.
Byton M-Byte

M-Byte production car unveiled:

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SEOUL: South Korea's Myongshin has agreed to build more than 50,000 electric vehicles a year for Chinese venture Future Mobility Corp (FMC) at a closed plant it bought from General Motors.

A parts supplier to Hyundai Motor and Tesla Inc , Myongshin signed a deal on Wednesday to build the electric vehicles for FMC's Byton brand beginning in 2021, the government of Jeonbuk province said in a statement.


Myongshin bought a factory from GM's local unit for 113 billion won ($94 million) in June after the U.S. carmaker closed one of its four South Korean plants last year.

Myongshin will produce Byton's M-Byte electric SUV in the factory in the southwestern city of Gunsan, the Jeonbuk provincial government said.
Byton M-Byte production model line-off:

Production of the M-Byte model has kicked off at the newly constructed factory of Nanjing Zhixing Electric Vehicle Co., Ltd. ("Nanjing Byton") situated in Qixia District of Nanjing city, Jiangsu (actually very close to Zhenjiang city, see location). Trial production was conducted last October.

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Operations suspended indefinitely:

Somewhat off-topic but related:

The fate of the other FAW-supported EV startup, Bordrin, also appears to be grim. Founder, Dr. Ximing Huang, has practically washed his hands off Nanjing Bordrin, having sneakily transferred (at dirt-cheap rates) technological and intangible assets to a "new company" to be headed by a new set of personnel, with the meager proceeds from this "sale" ostensibly to be used to temporarily pacify long-unpaid, angry employees and suppliers who have been getting increasingly vocal over the months. Basically, Nanjing Bordrin has turned into a "shell" with no worthwhile assets.

Just think of the devastating consequences for the hapless minority partner in the Tianjin Bordrin JV: the erstwhile carmaker FAW Xiali, now reduced to a metals trading company, is in the unenviable position of having no production plant, no manufacturing equipment or tooling, no production license (having given away both licenses -- to Byton and Bordrin), no viable partner, and no cars to sell (in its eagerness to join Bordrin, it had stopped selling the fairly new models A50, CX65 and D80, no doubt developed at considerable cost which has to be written off since it cannot be amortized within such a short time). Moreover, Nanjing Bordrin, which is entitled to hold 80.1% of the JV, has contributed only 14 million yuan of capital to date, out of the 2.034 billion yuan required from its side. FAW Xiali has said it will approach the courts.
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Oops, sorry! Yes, suspended for six months. Thanks for correcting.
Nanjing Shengteng

Some of you may have come upon this new endeavor to restart Byton's operations:

It now emerges that the Nanjing People's Government and FAW will have a greater say in the operations of the new company (a case of once bitten, twice shy), and two limited-partnership investor firms have also been roped in. There is also a plan to utilize the already completed factory by producing future electric Hongqi models, probably as a hedge against possible failure of the M-Byte (or its successor) in the marketplace.
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