Levdeo
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Levdeo (Chinese: 雷丁), also known as Letin, was a Shandong-based electric vehicle maker founded in 2008 by Li Guoxin. It started out producing low-speed neighborhood electric vehicles popular with senior citizens, then expanded into full-size electric cars, acquiring Shaanxi Qinxing Auto in 2018 and Yema Auto in 2019 and launching the Letin brand (i3, i5, i9).
02 / Levdeo FAILURE REASONS
Failure reasons
Levdeo could not adapt to advanced new-energy-vehicle technology amid fierce competition in China's EV market, and its sales underperformed. Debt disputes engulfed it from late 2022, with 93 civil cases filed against it over procurement, payments and loans, and no investor could be found to back a reorganization.
03 / EVENT HISTORY
Events in the structured record
- Founded
Founded in Weifang, Shandong as a low-speed electric vehicle maker.
- First acquisition
Acquired Shaanxi Qinxing Auto, gaining new-energy commercial-vehicle production qualification.
- Yema acquisition and Letin brand
Acquired Yema Auto to enter the full-size EV market and launched the Letin brand with the i3 and i5.
- Bankruptcy filing and shutdown
Filed for bankruptcy reorganization on May 5, 2023; the court rejected the petition on June 7, 2023; the company became defunct in May 2023.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
93 civil cases were filed against Levdeo from October 2022 over procurement, payment, loan and bidding disputes.
- 02
Filed for bankruptcy reorganization with a Shandong court on May 5, 2023.
- 03
The court dismissed the petition on June 7, 2023, mainly because no investor could be found.
- 04
The company became defunct in May 2023.
- 05
No public loss figure was disclosed.