Qiantu Motor
The business, the turning points, and the decisions behind them.
Some sections are still being researched1 / 4
Sections to complete：05
01 / WHAT IT BUILT
What the company did
Qiantu Motor (a wholly owned subsidiary of CH-Auto Technology, founded 2015) was one of China's first EV startups, specializing in electric vehicles. It was the sixth EV startup in China to receive both NEV production and manufacturing licenses. Its first model, the Qiantu K50 - a two-door, two-seat electric coupe with an all-carbon-fiber body and 402 bhp dual-motor powertrain - was presented in 2015-2016, built at its Suzhou plant from 2017, and launched in 2018 at a subsidized price of RMB 686,800 (about $110,000). It raised about $450 million.
02 / Qiantu Motor FAILURE REASONS
Why it failed
The K50 found almost no buyers: priced above RMB 680,000 with a tiny addressable market, fewer than 200 units were ever sold. By February 2019 media reported unpaid wages and supplier payment problems at parent CH-Auto, worsening through the year. The planned US market entry with California's Mullen Technologies (announced April 2019) never materialized. In November 2020 the company discontinued K50 production after two years, closed its first Beijing experience store in Sanlitun, and suspended operations.
03 / EVENT HISTORY
Events in the structured record
- Founded
Qiantu Motor founded as the EV brand of CH-Auto Technology (Beijing Great Wall Huaguan); the K50 electric coupe was presented in pre-production form at the 2015 Shanghai Auto Show.
- Production version
Production-ready K50 presented at the 2016 Shanghai Auto Show; received NEV production license.
- K50 launched
The Qiantu K50 launched in China at a subsidized RMB 686,800 (~$110,000); received vehicle manufacturing license, becoming China's sixth dual-licensed EV startup.
- Crisis emerges
Media reported unpaid wages and supplier problems at CH-Auto; K50 sold fewer than 200 units total; the US deal with Mullen Technologies never materialized.
- Production suspended
In November 2020 Qiantu closed its Sanlitun experience store, discontinued K50 production after 2 years, and suspended operations.
- Return attempt
In December 2021 Qiantu held a strategy-sharing session at its Suzhou factory marking its return after a two-year hiatus; it later pursued overseas markets (Malaysia pre-sales in 2022).
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 / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.