According to Tianyancha, Aiways Auto Technology (Shanghai) Co., Ltd. has added a new equity freeze record. The party subject to enforcement is AIWAYS Hong Kong Holdings Limited, with RMB 1.5 billion worth of equity frozen. The freeze period is three years, from June 25, 2025, to June 24, 2028, under the order of the Shanghai Huangpu District People’s Court.
Aiways Auto Technology (Shanghai) Co., Ltd. was established in May 2021 with a registered capital of RMB 1.5 billion. Its legal representative is Guo Chao. The company mainly engages in technology promotion and application services and is wholly owned by AIWAYS Hong Kong Holdings Limited. Records show the company currently faces two consumption restriction orders and two closed enforcement cases, with a total enforcement target of RMB 666,800, of which RMB 630,000 remains unpaid—a non-performance ratio of 94.5%.
AIWAYS Hong Kong Holdings Limited, founded in 2019, is Aiways’ parent company and has invested in two subsidiaries: Aiways Auto Technology (Shanghai) Co., Ltd. and Aiways Technology (Shangrao) Co., Ltd.
Founded in 2017 by Fu Qiang, a former executive at Mercedes-Benz, Audi, and Volvo, Aiways was once among China’s earliest EV startups to achieve mass production and delivery. Headquartered in Shanghai’s Changyang Valley Creative Industry Park, it operated a production base in Shangrao, Jiangxi Province. The company raised multiple funding rounds with backing from investors such as CATL, Didi Chuxing, and Tencent. However, Aiways has since become marginalized.
In November 2023, Anji Automotive Logistics (Shanghai) Co., Ltd. filed for bankruptcy liquidation against Aiways (Shanghai) Co., Ltd., citing insolvency. In August 2024, over a hundred vehicles at Aiways’ Shangrao plant were seized by the Shangrao Guangxin District Court due to unpaid wages. Reports of wage arrears first surfaced in April 2023, followed by defaults on social security and housing fund contributions.
Currently, Aiways offers two models: the U5 (A+ segment electric SUV) and the U6 (mid-size electric SUV). Both have struggled to gain traction in the domestic market. Industry analysts note that Aiways’ decline stems not only from poor cash flow and weak self-sustainability but also from its lack of competitiveness in product strength, marketing, and distribution channels. With intensifying price wars and pressure from rising Chinese NEV brands, other EV startups such as Neta, WM Motor, Enovate, Levdeo, and HiPhi are also struggling. For Aiways, a return to stability appears increasingly difficult.
