Dreame reportedly winds down car project, according to The Verge
Chinese company Dreame, known for manufacturing vacuum cleaners, is reportedly winding down its car project amid the cessation of government funding. The Verge reports.
Team cuts
According to CarNewsChina, Dreame's automotive division, called Project Starry Sky, previously had more than 1,000 employees. Now, only a few staff members from the legal department and HR service remain, tasked with completing the wind-down.
In a statement, Dreame said it had recently adjusted certain areas of activity that were at the exploration stage. Going forward, the company intends to focus on four areas: smart home, outdoor and garden products, smart mobility, and embodied artificial intelligence. A Dreame representative did not respond to The Verge's request for comment.
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Concept with rocket engines
Earlier this year, Dreame unveiled the Nebula Next 01 Jet Edition concept car at an exhibition in San Francisco. It was equipped with two rocket engines; its stated theoretical acceleration time from 0 to 60 miles per hour was 0.9 seconds.
As The Verge writes, after succeeding in the vacuum cleaner market, the company expanded into smartphones, robotics and cars, creating nearly a thousand affiliated enterprises. According to CNBC, much of this expansion was financed by the Chinese state, which is now paying greater attention to spending. Earlier, Chinese authorities introduced new rules to strengthen oversight of the $3.4 trillion private fund industry, mentioning Dreame separately.
