According to media reports, at the Shangrao production base of Aiways Automobile in Jiangxi Province, hundreds of Aiways vehicles have been sealed up by the Guangxin District Court of Shangrao City. It is understood that the sealing up of Aiways Automobile originated from the arrears of employees’ wages. Aiways Automobile was exposed to have owed employees’ wages since April 2023. Since then, even social security and provident funds have required employees to pay in advance at their own expense. The notice stated that employees who paid social security and provident funds at their own expense needed to change their labor contracts to Shanghai Yiwei Zhijia Company from May 1, 2023, and transfer the funds to the relevant accounts before May 25, 2023. Later, the company would refund after returning to normal. Since June 2023, Aiways Automobile has begun to lay off employees and signed relevant settlement confirmation letters, promising to settle wages and related social security and provident fund expenses before July 10, 2023. However, as of the time when Aiways Automobile’s Shangrao factory assets were sealed up, the relevant issues still remained unresolved. According to the China Enforcement Information Disclosure Network, Jiangxi Yiwei Automobile Manufacturing Co., Ltd. has repeatedly been listed as the person subject to enforcement or the person subject to dishonesty by the People’s Court of Guangxin District, Shangrao City, Jiangxi Province for having no justifiable reasons to refuse to perform the enforcement settlement agreement and violating the property reporting system. It is understood that Jiangxi Yiwei Automobile Manufacturing Co., Ltd. currently has 35 pieces of information on persons subject to enforcement, with a cumulative amount of 67.508 million yuan being enforced, 82 pieces of information on persons subject to dishonesty, and 97 pieces of consumption restriction orders. Data shows that Aiways Automobile was established in February 2017, with Zhang Yang as the legal representative and a registered capital of approximately 868 million yuan. It is jointly held by multiple shareholders such as Ningbo Meishan Bonded Port Kaijiu Investment Management Co., Ltd., Huzhou Aochi Investment Partnership (Limited Partnership), and Ningbo Meishan Bonded Port Wendian Investment Co., Ltd. under CATL. Aiways Automobile was founded by Fu Qiang, who held key positions in FAW-Volkswagen, SAIC Volkswagen Skoda, Beijing Benz, Volvo and other automakers. Its headquarters is located in Shanghai Changyanggu Creative Industrial Park, and the production base is located in Shangrao City, Jiangxi Province. It was once one of the earliest new force companies in China to achieve mass production and delivery. It obtained independent vehicle manufacturing qualifications by spending heavily to acquire Jiangling Holdings and received investments from well-known companies such as CATL and Didi Chuxing, with cumulative financing of over 10 billion yuan. Since the beginning of 2023, Aiways Automobile has begun to fall into production and operation difficulties. Due to the broken capital chain, employees of Aiways Automobile could not receive their salaries on time. The Shanghai Changyanggu Creative Industrial Park was forced to move out due to long-term rent arrears, and the Jiangxi Shangrao factory also stopped production for a long time as a result. In this context, Aiways Automobile has long owed payment for goods, and more and more suppliers have sued it in court and even applied for bankruptcy. In May this year, Hudson Acquisition l Corp. announced that it has signed a business combination agreement with Aiways Automobile Europe GmbH, which will provide electric vehicles for the European market. The official said that shareholders of Aiways Automobile Europe GmbH will receive newly issued HUDA common shares with a total amount of approximately 400 million US dollars, and the transaction will be completed by the end of this year. Meanwhile, according to domestic media reports, Aiways Automobile has no plan to remain in the Chinese market. The company has set up its European headquarters in Germany, and its future sales focus will be concentrated in Germany, but Aiways Automobile has not responded to this news.
The assets of a certain new force factory have been sealed up!
