What's new: Singulato Motors, one of China's earliest new-energy vehicle startups, entered bankruptcy liquidation after allegedly raising $2.3 billion in funding without delivering any vehicles. Several entities related to Singulato started the winding-down process in late June, according to a national bankruptcy cases portal. The parent company, Zhiche Youxing Technology Shanghai Co. Ltd., faced debt claims totaling 98.3 million yuan ($13.5 million) as of Aug. 20.

https://www.caixinglobal.com/2023-08-24/former-nio-electric-car-rival-singulato-goes-bust-102096024.html

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