Byton M-Byte falls victim to the Covid-19

The pandemic has caused disruption in many industries, including automotive, but it hit startups the hardest. Unable to loan or mortgage assets, China-based automaker Byton had to put its activities on hold until better times.

Starting today, July 1, the majority of the staff goes on a six-month unpaid vacation, only leaving behind a few managers. The company is four months behind on its wages payment, and its China HQ currently sits in darkness due to unpaid electricity bills.

Byton is a promising startup company made up from former BMW, Nissan and Tesla employees who had managed to attract investment in China. Their M-Byte SUV, which never made it past the concept stage, will be remembered thanks to its utterly enormous 48-inch front display.