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Baidu’s JV with Geely becomes the latest Chinese EV maker struggling with money problems
- Chinese electric vehicle startup Jiyue, a joint venture between Baidu and Geely, is facing financial challenges.
- Jiyue is laying off employees, suspending debt payments, and delaying vehicle deliveries as part of a restructuring.
- The company is searching for new funding and major shareholders might stop funding its development.
- Jiyue is the latest Chinese EV maker struggling with money problems, following Neta Auto.
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