Dreame's car project went from official announcement to zero in a year: what went wrong?

Bottom line first: Dreame's car-making venture was never about money or technology from the start; it was about organizational capabilities mismatching the industry's fundamentals. From the high-profile official announcement last August to being categorized under strategic adjustments this June, that's ten months total. The first model was benchmarked against the Bugatti Veyron, with mass production planned for 2027. There were even rumors of a funding round valuing them at 64 billion RMB. In the end, it wrapped up with just dozens of people left and the entity deregistered. The pace was like riding a rocket, and the crash was just as fast.