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According to a number of media reports, the Chinese start-up Byton is to suspend all production from July 1st to conduct a reorganization of the firm after being hit by the coronavirus pandemic.

Reuters reports that Byton – which is backed by state-owned automaker FAW Group and battery supplier CATL – made the announcement in a statement. This has not been verified by Auto Futures.

Reuters reports that the statement says: “The new coronavirus epidemic has brought great challenges to Byton’s financing and production operations.”

“After careful consideration and joint consultations with our shareholders and management, we have decided to, from July 1, kickstart a plan to lower employee costs and promote the company’s strategic reorganization,” it adds.

Byton was launched in September 2017 by Future Mobility Corp, a company co-founded by former BMW and Nissan Motor executives. Its global headquarters and manufacturing centre are located in NanjingChina. Its global R&D hub is in Silicon Valley and its design and concept vehicle centre is located in Munich, Germany.

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