Dongfeng Technology filed for arbitration because Hozon Auto owed more than 12 million yuan

Dongfeng Yanfeng Automotive Cockpit Systems Co., Ltd., a subsidiary of Dongfeng Technology, has filed an arbitration application with the court because it was owed more than 12 million yuan in payment by Hozon New Energy Automobile Co., Ltd. It is reported that since 2022, Dongfeng Yanfeng has signed multiple contracts with Hozon Auto, including the "General Principles of Procurement" and the "Mold Development Agreement", which stipulate that Dongfeng Yanfeng will develop EP36 main and auxiliary instrument panel project tooling molds and EP36 project parts for Hozon Auto, and supply corresponding parts to Hozon Auto. However, although Dongfeng Yanfeng has fulfilled its contractual obligations, Hozon Auto has not paid the corresponding fees as agreed.