The JiYue brand, an ambitious joint project between Geely and Baidu, wanted to conquer the Chinese market for electric vehicles. But despite the ambitious goals and an exciting line-up, the company failed as early as 2024.
Especially the electric SUV JiYue 01 was symbolic of this development: a futuristic design, cutting-edge technology and a lot of potential - but too few sales. By September 2024, only 9.767 vehicles had been delivered, a disappointing result in one of the largest markets in the world.
Why did JiYue fail?
In addition to the tough competition and rapidly changing market conditions, internal problems also became increasingly apparent. videos from employees, who confronted CEO Xia Yiping about unpaid salaries, caused negative headlines. Suppliers also had increasing difficulties with late payments. Despite an announced savings plan with mergers and project suspensions, the financial situation remained critical.
The JiYue 01 offered technical highlights such as 350 Newton meters of torque, an output of 400 hp and a battery capacity of 90 ampere hours. But without a clear strategy, even such impressive data was not enough to prevail. In December 2024, JiYue was dissolved. You can find all further information in the video! Image and video credit/source: JiYue
