Last year, Hong Kong-based Evengrande New Energy Vehicle hired the experienced German car manager Daniel Kirchert. The EV vehicle startup’s mother-company, real estate giant Evergrande is struggling with enormous debt.
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Following drawn-out proceedings, on 20 April, the Munich District Court ordered the provisional insolvency administration of Byton GmbH, the German subsidiary of the Chinese electric car start-up Byton.
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According to Chinese media reports, Daniel Kirchert has moved to Evergrande Auto, the electric car offshoot of the Chinese Evergrande Group, where he is now Executive Vice President. Kirchert had left the struggling electric car maker Byton last year.
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The Munich public prosecutor’s office is investigating insolvency proceedings at Byton GmbH at the Bavaria office. The company denies media reports that ex-CEO Daniel Kirchert has fled to Hong Kong to escape the investigations.
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German CEO Daniel Kirchert has reportedly left the struggling electric car manufacturer Byton. Nevertheless, there is a glimmer of hope for Byton: potential investors are conducting a ‘due diligence’ review at the moment.
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Byton has announced to split the positions of CEO and Chairman more strictly, with Carsten Breitfeld taking over the role of chairman. Co-founder Daniel Kirchert will become CEO. Until now, Breitfeld had covered both positions.
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