Jiyue Auto's suppliers face debt problems

As Jiyue Auto fell into an operational crisis, its suppliers also faced the problem of arrears. It is reported that Jiyue Auto owed Geely about 1.5 billion yuan in parts and OEM fees. Geely asked Jiyue to pay the overdue payment a few months ago, otherwise it would consider stopping OEM cars for it. Jiyue Auto also raised Geely's payment period from 45 days to 180 days, a move that caused concerns among suppliers. It is reported that when Baidu's financial team was preparing to invest 3 billion yuan in Jiyue Auto, it discovered that it had a financial hole of 7 billion yuan, so it decided to stop investing.