After being shut down for nearly a year, Jiyue Motors has reappeared in the public eye.
On November 25th, Jiyue Auto issued an announcement titled "Shanghai Jiyue Auto Co., Ltd. Announcement Regarding the Initiation of Pre-Reorganization Procedures," stating that Shanghai Jiyue Auto Co., Ltd. (brand: Jiyue Auto) recently submitted a pre-reorganization application to the Shanghai Third Intermediate People's Court, which was formally accepted on November 21st, 2025. The Shanghai Third Intermediate People's Court simultaneously appointed Zhong Lun Law Firm (Shanghai) as the interim administrator to legally advance subsequent pre-reorganization related work.
"The company has initiated pre-restructuring procedures to introduce new strategic investors, revitalize existing assets and resources, maintain asset value, and protect users' after-sales rights. Under the supervision of the interim administrator, the company will maintain the smooth operation of its core business and legally protect users' legitimate rights and interests," Jiyue Auto stated.
According to Tianyancha, on November 24, Shanghai Jidu Automobile Co., Ltd., an affiliated company of Jiyue, was added to the bankruptcy review case. The applicant is Shanghai Jidu Automobile Co., Ltd., and the handling court is the Third Intermediate People's Court of Shanghai.
The company was established in November 2021, with Xia Yiping as its legal representative and a registered capital of US$400 million. Its business scope includes the sale of new energy vehicles, the manufacturing of auto parts and accessories, the wholesale of auto parts, and the operation of electric vehicle charging infrastructure.
At the end of 2024, Jiyue Auto encountered operational difficulties and was exposed for problems such as defaulting on payments to suppliers and failing to pay employee wages.
Subsequently, Baidu and Geely, as shareholders, issued an announcement stating that Jidu Automotive Co., Ltd. is a new energy vehicle startup jointly invested by Baidu Holdings and Geely Holdings, representing an innovative product exploring the intelligent transformation of the automotive industry. Due to significant changes in the competitive landscape of the industry, the established business plan could not be implemented, and operations encountered challenges. Jidu's X-Trail vehicles are manufactured in Geely's factories and exclusively licensed to Jidu. Baidu and Geely will assist Jidu's management in properly handling related matters.
Since the beginning of this year, Geely's Lynk & Co brand has established an after-sales maintenance and user communication team to provide services such as order cancellations and after-sales maintenance. Lynk & Co, a brand under Geely, is responsible for the after-sales repair of the Lynk & Co vehicles.
Official data shows that the Geely XYUAN brand was jointly created by Geely Holding Group and Baidu. The first model, the XYUAN 01, was released in August 2023 and officially launched in October. In 2024, the total number of XYUAN deliveries was only 13,561 units.
