Byton CEO Daniel Kirchert. Photo credit: Stephen McCarthy/RISE via Sportsfile, under Creative Commons license

Chinese electric vehicle upstart Byton has announced has said it’s suspending all of its domestic operations for a six-month period amid business struggles stemming from the coronavirus pandemic. The six-month halt is scheduled to run through the months of July to December and notably comes on the heels of reports of Byton delaying salary payments for some of its staff. Byton as a private company is known to have secured some $1.2 billion in financing since its inception. The company, which was founded in 2017, has long showcased flashy concepts but hasn’t yet delivered a production vehicle.

Byton originally planned to release a production vehicle in the third quarter of last year but later delayed its plan. The company cited financing and production challenges caused by the coronavirus pandemic as the reason behind its suspension. Byton is looking to institute a strategic restructuring that includes reducing its staff. Currently, Byton employs about 1,500 people globally, the majority in its hometown of China.

Byton has offices and facilities across China, Silicon Valley, and Munich, Germany. The company has a management team that includes veterans from the likes of Tesla, BMW, Apple, and Google.