Automotive company owned by former VW executives faces bankruptcy

Jakarta (ANTARA) - A former Volkswagen executive who founded an automotive company named BeyonCa is reportedly facing financial difficulties that have resulted in hundreds of employees not receiving their salaries.

CarnewsChina reported on Sunday that this automotive company, focused on developing luxury electric vehicles, was established by former Volkswagen Group Vice President Soh Weiming and former VW AG board member Christian Klinger in 2021.

Previously, reports circulated that the manufacturer had completely halted operations. This was revealed on 27 March 2026 through a letter written by its employees to media outlets in China.

According to the letter, despite the company receiving strategic investments from Renault and Dongfeng, BeyonCa has been unable to stay afloat or declare bankruptcy. This has left hundreds of employees and their families without salaries and in a survival crisis.

Nevertheless, there has been no official response regarding the unpaid wages for employees, unpaid social security contributions, and unpaid housing pension fund contributions by the company.

As of this report, the employees have submitted several demands. These include full payment of all outstanding wages, social security and housing pension fund contributions, settlement of personal expense reimbursements, payment of compensation, and a public response from the company and its shareholders.

Upon the brand’s initial launch, BeyonCa executives claimed they would sell around 100,000 vehicles within 3 to 5 years. In October 2023, the company even entered into a partnership with an investment group from Saudi Arabia.

BeyonCa originally planned to begin mass production of its first model in 2024. That model is the electric GT coupe Opus 1, with a body length of 5.2 metres and a 130 kWh battery, with an estimated starting price of 1 million yuan.