Chinese Auto Brand Jiyue Closes Down

The Chinese auto brand Jiyue, created by Geely in collaboration with Baidu, is closing down – it owes millions to investors and suppliers, and a sudden 'financial hole' of nearly $1 billion has surfaced in reporting. The company was founded in 2023, and during its existence, it managed to release two models – crossover 01 and liftback 07, which sold only 13,834 units, an incredibly low number by Chinese standards.