Livestreamer sales collapse when hearing the closure:EV company disappeared in half day after the ca

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The extent to which the Chinese economy has deteriorated can be seen in the recent sudden collapse of a branded auto company.

On December 11, 2024, the new car brand Ji Yue which is backed by Chinese tech giant Baidu, suddenly announced its instant disbanding. The news shocked China. Baidu and Chinese car manufacturer Geely founded the company as Jidu Auto in early 2021 and later rebranded it as Ji Yue last year.

On December 11, Xia Yiping, CEO of Ji Yue Auto, held an internal meeting with all employees online, saying that the company encountered difficulties in its operations and needed to make adjustments, kicking off the "starting up 2.0" phase. A few hours later, the Ji Yue team announced that the group was disbanding on the spot, leaving the social insurance, housing provident fund, and severance pay of the company's more than 5,000 employees in limbo. Only about 100 operation and maintenance staff remained at this big company.
On December 11, a netizen posted a video confirming that security guys used a fence to surround the Ji Yue store in the mall.


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