On December 13th, Geely and Baidu issued a joint statement to assist Jiyue in handling related matters. Geely and Baidu have stated that due to significant changes in the industry competition landscape, the established business plan of the companies they jointly built cannot be executed, and their operations have encountered challenges.
Sina Weibo @ Geely Holding Group
At the same time, Geely and Baidu stated that as shareholders, they will actively assist the management of Jidu in handling relevant matters properly, including resolving employee social security payments and post employment issues in a timely manner; Maintain the normal use, after-sales service, and maintenance of user vehicles; Promote the reasonable and legal resolution of other matters.
It is worth mentioning that a reporter from the Daily Economic News previously learned that on the evening of December 12th, representatives of employees from Jiyue held a closed door meeting with Jiyue Automobile CEO Xia Yiping, as well as the two major shareholders of Geely and Baidu, to negotiate issues such as social security and compensation for Jiyue employees. Xia Yiping has informed all employees of the latest developments regarding social security, housing provident fund payments, and other issues through the synchronization of messages in the Feishu group.
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