Luxury electric vehicle brand BeyonCa, established by high-profile Singaporean automotive executive Soh Weiming, has reportedly ceased operations, with employees alleging unpaid wages.
An open letter purportedly signed by BeyonCa employees has been circulating online, claiming the company has ceased operations and that management has not responded to questions over unpaid wages and other compensation, The Business Times reported, citing Chinese news outlets.
The brand, established in 2021, is chaired by Soh, who also serves as chairman and CEO of Renault China. Its investors include French automaker Renault and Chinese carmaker DongFeng.
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Soh Weiming, chairman and co-founder of the electric vehicle (EV) startup BeyonCa, poses for pictures during an interview with Reuters at the company’s office in Beijing, China, Oct. 28, 2022. Photo by Reuters |
Before this, Soh served on the management board and as executive vice-president of Volkswagen Group China. He also set up Mobility Asia, a Volkswagen subsidiary focused on transport technologies.
According to The Straits Times, Soh earned the nickname “the fixer” in China’s automotive industry for his role in turning around underperforming or loss-making car companies.
Backed by a team with extensive experience at Volkswagen, BeyonCa was initially seen as a venture with promising prospects. It officially launched in 2022 and, a year later, signed an agreement with Saudi Arabia’s Al Faisaliah Group as part of plans to expand into the Middle Eastern market, as reported by automotive news outlet CarNewsChina.
It also secured a number of other strategic partnerships, including with battery manufacturer CATL and the municipal government of a city in Zhejiang province.
BeyonCa announced in 2024 plans to set up a factory in Hong Kong and start production of its first model.
A report by the South China Morning Post last year, citing sources familiar with the matter, said the company planned to launch its first production model as early as late October 2025.
The model is known as GT Opus 1, a luxury grand tourer planned to be priced at around US$100,000 and compete with brands such as Audi and Mercedes-Benz.
