Business

Bird Withdraws From Car Industry

Bird Technology, which began to take shares in Wuxi Bodywork Company of Nanjing Car Manufacturing Group last year, has withdrawn its capital from the company, ending its plan to participate in the car industry.

The reasons for this withdrawal are quite complicated. According to Bird employee, the most important reason was that Bird was not satisfied with the new car–the Xin Ya Tu, which was to be promoted. In addition, Bird, which used the production line and license of Intel (whose production base is in Nanjing) to enter the car manufacturing field, had not got an approval from the necessary departments to organize manufacturing activities in Wuxi. Ultimately, though, the consensus is that Brid stepped out primarily because of mobile phone and car manufacturing were essentially unmatched industries.

Although Bird lost ten millions in the process, some insiders insist that it has benefited, gaining considerable experience in car manufacturing which would proves useful should the company wish to re-enter the industry in the future.

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