Seres, the Chinese EV startup formerly known as SF Motors, is laying off 90 people in its Silicon Valley office, the company announced in a staff meeting held earlier today. The US launch of its first electric SUV, the SF5, is also now on hold, according to a recording of the meeting obtained by The Verge. It had originally planned to make and sell its electric SUVs in both China and the US, with a release slated for later this year.
Around 300 people worked in the Silicon Valley office prior to the layoffs, according to a former employee who was granted anonymity because of a non-disclosure agreement with the company. The layoffs affect multiple parts of the company, including sales, marketing, IT, HR, legal, operations, and design,…
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Author: Sean O’Kane