Reports out of China claim that the financially troubled Zotye Auto has suddenly closed its Traum division. Staff salaries have supposedly not been paid for months and dealerships are said to be shutting their doors, according to portals Gasgoo and China Car News.
Huanshan Jinma, the parent company of Zotye Auto, once had ambitious plans for the Traum brand. The T70, a seven-seat SUV, was developed with the A1 project code. It was followed by the Meet 3, an SUV which is based on the Zotye SR7. Another model, the Seek 5, was also launched in 2018 and the Meet 5 was due for a sales release several months ago.
Go deeper with GlobalData
Traum vehicles are or were manufactured by Jiangnan Auto, which is owned by a subsidiary of Zotye Auto’s parent company. Recently, Ford Motor Company and Zotye Auto were said to be “reviewing their collaboration effort”.
