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Seres, formerly known as SF Motors, was one of the most promising electric car starters supported by the Chinese to enter the United States, but he has now suspended the launch of his electric car in the United States and dismissed a large part of his American staff.
In recent years, we have largely covered the activities of SF Motors, which are positioning themselves to quickly become a major player in the electric vehicle market.
They are supported by the Chinese company Sokon and already have two production sites, one in the United States and the other in China, as well as EV technologies of respected pioneers.
They acquired the Hummer Trading Company's assembly plant at AM General's assembly plant in South Bend, Indiana, as well as the electric powertrain start-up founded by Martin Eberhard, co-founder of Tesla .
A few months later, they unveiled their first two 100% electric vehicles that they plan to put into production in Indiana and China.
Earlier this year, they changed their name to a more user-friendly "Seres" and unveiled their first production car, the SF5.
Now we learn from The edge that they dismiss 90 people in their Silicon Valley office and suspend the introduction of SF5 in the United States.
In a letter to employees, co-CEO James Taylor said the slowdown in the Chinese market was pushing them to wait in the US and focus on their home market:
"At a time when Sokon is handling a lot of dynamic challenges, it's just too difficult in the short term to try to launch a new brand and type of product in another new market. As these strategic decisions are made, we must now make the appropriate adjustments to give society the best opportunity for both short-term survival and long-term success. "
This step back comes after another problem for Seres.
Earlier this year, we announced that Eberhard and some of his team members, who had joined Seres after buying out his start-up, had left the company and launched another similar startup, the powertrain, as the one Seres had bought a few years ago.
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