Readings cars and other vehicles are forcibly executed for a total amount of 34.89 million yuan, with a total amount executed exceeding 130 million yuan.

Confiscated Vehicles and Other Assets Worth Over 130 Million Yuan Seized in Readings Car Readings Worth 34.89 Million Yuan

【PhoneAuto News】Recently, PhoneAuto noticed that according to information displayed by the relevant app, Reding Automotive Group Limited has added a new judgment debtor information with an execution amount of over 34.89 million yuan. The judgment debtor information shows that Reding Automotive Group Limited, Shandong Bidewen Power Technology Co., Ltd., and Changle County Urban Construction Investment and Development Co., Ltd. are all listed as judgment debtors, and the executing court is Qingdao Laoshan District People’s Court.

This is not the first time that Reding Automotive has been listed as a judgment debtor. By searching on the Tianyancha app, we can see that Reding Automotive Group Limited currently has 15 judgment debtor information, with a total execution amount exceeding 130 million yuan. Most of these judgment debtor information were added in 2022 and 2023, involving cases related to sales contract disputes, loan contract disputes, and more.

In addition, risk information shows that Reding Automotive Group Limited also has information on restrictive consumption orders, dishonest judgment debtors (defaulters), and final judgments. These pieces of information further indicate that Reding Automotive is facing serious difficulties in its operations.

• NIO has reportedly abandoned its plan to build a factory in the United States due to high costs.
• Avita 11 Push 2.0.2 New System, New Added Automatic Emergency Braking for Irregular Obstacles.
• Ideal MEGA may open blind orders at the Guangzhou Auto Show, with an expected price of over 500,000 RMB.

In fact, since December 2021, Reding Automotive has been continuously reported with news of a broken capital chain and forced execution of its subsidiaries. It is rumored that Reding Automotive’s founder, Li Guoxin, has already settled abroad. The occurrence of these events undoubtedly casts a shadow over the future of Reding Automotive.

For consumers and partners, they also need to adopt a cautious attitude towards the future of Reding Automotive. Although Reding Automotive claims to be taking measures to improve its business conditions, it seems that the company’s difficulties have not been effectively resolved at the moment. Therefore, transactions and cooperation with Reding Automotive still need to be carefully considered.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!