Chinese Company Dreame Reportedly Shuts Down Automotive Project
Chinese technology firm Dreame is reportedly discontinuing its ambitious automotive project after government funding ceased. The division, once employing over 1,000 people, is being wound down.
Dreame, the Chinese company known for its vacuums and aspirations of becoming a global technology giant, has reportedly shut down its automotive project. The initiative, dubbed "Project Starry Sky," is said to have ended due to the drying up of government funding.
According to CarNewsChina, the automotive division once employed over 1,000 individuals. Currently, only a small number of legal and HR staff remain to manage the winding-down process.
In a statement, Dreame confirmed that it "recently adjusted certain operations that were in the exploratory phase." The company announced its future focus will be on four key business areas: "smart home, outdoor/garden, smart mobility, and embodied AI."
The closure of the automotive division represents a significant setback for Dreame's diversification strategy beyond consumer electronics. This move may also reflect broader challenges faced by Chinese tech firms venturing into the automotive sector, particularly concerning securing sustained funding and navigating regulatory landscapes.