Qoros Auto's Changshu Plant Assets Up for Second Auction with Starting Bid of RMB 859 Million

The assets of Qoros Auto’s factory in Changshu, Jiangsu Province will be auctioned for the second time on JD Asset Trading Platform at 10 a.m. on January 15, with a starting bid of approximately RMB 859 million and an appraised value of around RMB 15.34 billion. The auction lot includes industrial land at No. 1 Tongda Road (total area: 716,000 square meters), factory buildings covering 183,000 square meters, machinery, equipment, spare parts, and other assets—all of which have been seized and are subject to mortgages. The auction is being organized by the Changshu City People’s Court, and as of the opening of the auction, only one bidder has registered. The site is the location of Changshu Qoros Automotive Co., Ltd., established in 2007, which previously launched models such as the Qoros 3 but has seen continuous sales declines since 2019. Earlier, its production line was sold in May 2024 for RMB 6.6476 million. Currently, Qoros Auto’s bankruptcy review application has been accepted by the Suzhou Intermediate People’s Court, and equity interests exceeding RMB 35 billion have been frozen.