Byton Suspends Operations
July 6, 2020—EV startup Byton is halting operations for at least six months due to financial troubles, reports The Verge.
Byton was having some financial issues before, but COVID-19 sunk the company further. The pause in operations affects the development of its EV SUV, called M-Byte.
Most of Byton's Chinese employees will be furloughed, the report says. That comes after the company already furloughed many of its U.S.-based employees.