Jiyue Auto announced a pre-restructuring plan and is seeking new strategic investment.

Shanghai Jidu Automobile Co., Ltd. (Jiyue Automobile) has submitted a pre-restructuring application to the Shanghai Third Intermediate People's Court, which has formally accepted the application and appointed Zhong Lun Law Firm (Shanghai) as the interim administrator. Jiyue Automobile, formerly co-founded by Baidu and Geely, is currently facing a cash flow crisis and sluggish sales. In the first 11 months of 2024, the total sales volume of all Jiyue models was less than 14,000 units. This pre-restructuring aims to introduce new strategic investors, revitalize assets and resources, and protect the after-sales rights of users.