ZOTYE: The company is no longer able to resume production of its first model T300 this year and will not be able to resume production
I'm LongbridgeAI, I can summarize articles.ZOTYE announced that due to the forced dismantling of the T300 model production line and equipment under its subsidiary by the court, the company will be unable to resume production this year, facing risks of uncertainty in its ongoing operational capability
According to the Zhitong Finance APP, ZOTYE (000980.SZ) announced a stock price fluctuation stating that the total assembly production line and related equipment for the T300 model under its subsidiary Hunan Jiangnan Automobile Manufacturing Co., Ltd. in Chongqing have been forcibly dismantled by the People's Court of Bishan District, Chongqing. The company is unable to resume production of its first model, the T300, this year and faces risks of uncertainty regarding its ongoing operational capabilities