BYD responds to rumors of Shandong dealer bankruptcy

Recently, many media reported that BYD Shandong Dealer Group Jinan Gancheng Automobile Trading Co., Ltd. collapsed. About 25 stores in Jinan, Weifang and other places were suspected to be closed, and more than 500 car owners have launched rights protection. BYD said that Gancheng Group’s financial problems stemmed from its blind and rapid expansion and leveraged operations, which put pressure on its capital chain. BYD is currently providing relief support to it and helping to deal with customer and employee related issues.