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L4 Autonomous Driving Company Declares Bankruptcy with Debts Over 45 Million Yuan, Unable to Settle 15,000 Yuan Labor Claim
6 day ago /
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Author：小编
The landscape of L4 autonomous driving is marked by intense competition and a rapid acceleration of industry reshuffling. Recently, the Qixia District Court in Nanjing, Jiangsu Province, ruled to accept the bankruptcy liquidation application of CIIDATECH Co., Ltd. CIIDATECH, founded by Wang Jin, a prominent figure in the autonomous driving sector, fell into financial distress. This led to the company being involved in numerous unenforceable cases with a combined executed amount exceeding 47 million yuan. Ironically, the final straw came when CIIDATECH was unable to fulfill a labor arbitration payment of just 15,000 yuan, prompting the bankruptcy application.
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