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Byton, Chinese EV start-up planning US foray, halts operations for 6 months

Byton, the Chinese electric vehicle (EV) start-up that has plotted a US entry for years, is suspending all domestic operations and furloughing staff after the coronavirus pandemic made it tougher to get its business off the ground.The suspension starts on July 1 and is set to last six months, closely held Byton told employees in an email seen by Bloomberg News.The company invited employees to resign in writing by June 30 and said it is making efforts to obtain funding to pay salaries owed to…

Read the original article at South China Morning Post

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