Levdeo

Levdeo, also marketed as LETIN or Letin, was a Chinese electric-vehicle manufacturer headquartered in Shandong. The company was established in 2008 after the earlier development of the Bidwin electric-vehicle business and initially concentrated on low-speed electric vehicles, a segment serving short-distance transportation in smaller Chinese cities and rural areas. Its products were positioned around accessible pricing, compact dimensions, simple operation, and practical urban mobility rather than premium performance or long-distance touring. The company’s corporate roots extended to Weifang Bidwen Electric Vehicle Manufacturing Co., Ltd., which had entered electric-bicycle manufacturing in 2002. In 2010, Bidwen Holding Group was established as Levdeo’s controlling shareholder. Levdeo’s early business centered on neighborhood electric vehicles and other low-speed models. This gave the company exposure to a large but loosely regulated market before China’s new-energy-vehicle rules increasingly favored manufacturers with formal production qualifications and stronger technical and financial capabilities. To broaden its market position, Levdeo pursued acquisitions and manufacturing qualifications. In April 2018 it acquired Shaanxi Qinxing Auto, gaining access to production qualifications associated with new-energy commercial and special-purpose vehicles and establishing a base in Xianyang. In January 2019 it acquired Yema Auto, a move intended to provide entry into larger electric passenger vehicles and to make use of existing gasoline-vehicle platforms. The company subsequently introduced the Letin brand and announced plans to develop electric vehicles based on Yema platforms alongside upgraded low-speed-vehicle architectures. The Letin range included the i3 city car, i5 small hatchback or sedan, and i9 sport-utility vehicle. The i3 and i5 were launched in 2019, while the i9 followed in 2020. Levdeo also sold or developed a broader group of D-series, S-series, G-series, and V-series vehicles, covering compact hatchbacks, sedans, SUVs, buses, and other utility-oriented vehicles. Its products generally targeted affordable personal transportation and short- to medium-distance commercial use in the Chinese market. Levdeo encountered significant operational and financial pressure during its expansion. Reported sales for January through October 2022 totaled 6,878 vehicles, while planned production capacity in Mianyang was delayed by the COVID-19 pandemic and extreme summer temperatures. In November 2022 the company acknowledged that funds and production capacity were tight and that deliveries could be prioritized for key markets. The company also faced reported dealer-payment delays, disputes concerning local government support and output reporting, and growing enforcement claims. In May 2023 Levdeo applied for bankruptcy. A subsequent report stated that enforcement claims against the company exceeded RMB120 million by January 5, 2024. Levdeo completed bankruptcy reorganization on April 30, 2024. The Wikipedia account describes the manufacturer as defunct and indicates that its models were marketed under the Letin name until 2023. As a result, Levdeo is best understood historically as a Chinese low-speed and compact electric-vehicle manufacturer whose attempted transition into a broader, formally qualified passenger-vehicle business was not sustained.

Levdeo’s corporate origins can be traced to the Bidwen electric-vehicle business. Li Guoxin registered Weifang Bidwen Electric Vehicle Manufacturing Co., Ltd. in 2002, initially entering electric-bicycle manufacturing. Levdeo itself was founded in 2008 in Shandong and began as a producer of low-speed electric vehicles, especially neighborhood-oriented vehicles intended for short-distance mobility. In 2010, Bidwen Holding Group was established as Levdeo’s controlling shareholder. During its early years, the company operated in China’s low-speed electric-vehicle market, where compact battery-powered vehicles were used for local transportation but were subject to a different regulatory environment from fully qualified passenger cars. Levdeo’s emphasis was affordability and practical utility rather than premium technology or high-speed driving performance. The company later sought to move into more formalized new-energy-vehicle manufacturing. In April 2018, Levdeo Auto acquired Shaanxi Qinxing Auto. This transaction provided access to production qualifications for new-energy commercial and special-purpose vehicles and supported the creation of a production base in Xianyang. In January 2019, Levdeo acquired Yema Auto to enter the larger electric passenger-vehicle market. The company planned to use existing Yema gasoline-vehicle platforms and upgraded low-speed-electric-vehicle platforms for electric models. Levdeo introduced the Letin brand as part of this expansion. The Letin i3 and i5 were launched in 2019. The i3 was a compact four-seat city car with several variants, while the i5 was a larger five-door passenger vehicle available in Base and Comfort versions. In 2020, Levdeo introduced the i9, a larger five-seat electric SUV based on the Yema T60 platform and closely related to the Yema EC60. The company also marketed or developed a wider selection of D-series compact vehicles, the S50 SUV, the G10 electric bus, the V60 hatchback, and the Mengo city car. Expansion was accompanied by organizational and financial difficulties. In 2020, Li Guoxin was reported to have been taken away to assist an investigation concerning Wang Shuhua, a former Weifang vice mayor and Changle County Party secretary. Afterward, Li handed day-to-day management of Levdeo to a professional manager and later resigned from all positions in Bidwen Holding Group. He subsequently moved to Canada with his family, according to the cited account. Levdeo’s operating pressures became more visible in 2021 and 2022. Dealer managers reportedly complained of delayed payments in December 2021. From January through October 2022, reported cumulative sales were 6,878 vehicles. A planned Mianyang production base, originally expected to be completed in August 2022, was delayed by the COVID-19 pandemic and unusually high temperatures. In November 2022 the company stated that financing and production capacity were relatively constrained, and that delivery guarantees would focus on key markets and regions. In November 2022, Levdeo completed a reported Series A financing round totaling RMB3.2 billion, led by Weifang Weicheng Western Investment Development Group and joined by state-owned, industrial, and private investors. Despite this financing, the company continued to face serious operational challenges. In January 2023, Li Guoxin published a real-name report accusing Wang Xiao, the Changle County Party Committee secretary, of pressuring Levdeo to overstate industrial output and of failing to renew a government-guaranteed loan connected with the acquisition of Mustang Automobile. Levdeo associated the financing problem with the shutdown of its factory. A joint investigation by Shandong provincial and Weifang municipal authorities reported in July 2023 that Levdeo’s industrial output had in fact been overstated by RMB4.543 billion and that the relevant figure was corrected. The investigation found that local industry and information authorities and a local street office had interfered with statistical data. It did not find evidence, after questioning the whistleblower and relevant officials, that Wang Xiao personally forced the falsification, but assigned him primary leadership responsibility and reported disciplinary handling for nine responsible individuals. Levdeo applied for bankruptcy in May 2023. By January 5, 2024, reported enforcement claims against the company exceeded RMB120 million. Bankruptcy reorganization was completed on April 30, 2024. The company is described as defunct, with the Letin brand having been used for its vehicles until 2023.

• 2024

  Bankruptcy reorganization completed

  [1]Levdeoen.wikipedia.org

  The company completed bankruptcy reorganization on April 30.

• 2023

  Bankruptcy application

  [1]Levdeoen.wikipedia.org

  Levdeo applied for bankruptcy in Changle County, Weifang.

• 2022

  Series A financing completed

  [1]Levdeoen.wikipedia.org

  Levdeo completed a reported RMB3.2 billion Series A financing round amid production and liquidity pressure.

• 2020

  Letin i9 launched

  [1]Levdeoen.wikipedia.org

  The company expanded its Letin range with the i9 electric SUV.

• 2019

  Yema Auto acquired and Letin passenger vehicles launched

  [1]Levdeoen.wikipedia.org

  Levdeo acquired Yema Auto and introduced the Letin i3 and i5 as part of its move into larger electric passenger vehicles.

• 2018

  Shaanxi Qinxing Auto acquired

  [1]Levdeoen.wikipedia.org

  The acquisition expanded Levdeo’s access to new-energy commercial and special-purpose vehicle qualifications.

• 2010

  Bidwen Holding Group established

  [1]Levdeoen.wikipedia.org

  Bidwen Holding Group became the controlling shareholder associated with Levdeo.

• 2008

  Levdeo founded

  [1]Levdeoen.wikipedia.org

  Levdeo was established in Shandong and began producing low-speed neighborhood electric vehicles.

• 2002

  Bidwen electric-vehicle predecessor established

  [1]Levdeoen.wikipedia.org

  Li Guoxin registered Weifang Bidwen Electric Vehicle Manufacturing Co., Ltd., which entered electric-bicycle manufacturing.

Affordable and practical electric mobility for short-distance urban, suburban, and commercial transportation.

• Electric city car · 2019

  Letin i3

  A compact five-door, four-seat electric city car launched in 2019 under the Letin brand. It was offered in Base, K-version, and Comfort variants and was designed for affordable short-distance urban transportation. The cited specifications describe a 17 kWh battery and production through 2023.

• Compact electric passenger car · 2019

  Letin i5

  A five-door, four-seat compact electric passenger vehicle introduced in 2019. The range included Base and Comfort versions. It was larger than the i3 and used a 25.55 kWh battery according to the cited vehicle information, with production listed through 2023.

• Electric SUV · 2020

  Letin i9

  A five-door, five-seat electric SUV launched in 2020 and based on the Yema T60 platform, also described as closely related to the Yema EC60. The model used a 51.06 kWh battery in the cited specifications and represented Levdeo’s attempt to compete in a larger passenger-vehicle segment.

• Electric city car · 2020

  Letin Mengo

  A compact five-door, four-seat city car associated with the Letin brand. The cited information lists a 17 kWh battery and production from 2020 to 2023. It served the company’s core affordable urban-mobility proposition.

• Electric hatchback · 2014

  Levdeo D30

  A five-door, four-seat compact hatchback in Levdeo’s D-series. It was revealed in 2014 and is listed as having been produced through 2023. Detailed battery and performance specifications are not established in the cited material.

• Electric hatchback · 2014

  Levdeo D50

  A five-door, five-seat D-series hatchback revealed in 2014. It formed part of Levdeo’s compact electric-vehicle portfolio, although the available reference does not provide a confirmed battery specification.

• Electric sedan · 2015

  Levdeo D60/E60

  A five-door, five-seat electric sedan revealed in 2015. The cited vehicle information identifies 220V charging and production through 2023 but does not provide a complete battery or powertrain specification.

• Electric hatchback · 2015

  Levdeo D70

  A five-door, five-seat hatchback revealed in 2015 and listed as produced through 2023. It was part of the company’s broader compact-vehicle range; detailed technical specifications are not available in the cited source.

• Electric SUV

  Levdeo S50

  A five-door, five-seat SUV associated with Levdeo’s model range. The reference identifies the model but does not establish a confirmed launch year, battery capacity, or production period.

• Electric bus · 2018

  Levdeo G10

  A bus model revealed in 2018 with seating for up to 24 people. It represented Levdeo’s expansion into commercial electric transportation and was listed as produced through 2023, although battery and door specifications are not provided.

• Electric hatchback

  Levdeo V60

  A three-door, four-seat hatchback included in Levdeo’s vehicle listings. The cited material does not establish its launch date, battery capacity, or production period.

• 2023

  Output-reporting and government-support dispute

  A public dispute involved allegations that local officials pressured Levdeo to inflate industrial-output figures and failed to continue support for a government-guaranteed loan. A subsequent investigation found false reporting of RMB4.543 billion and interference by local departments, while assigning Wang Xiao primary leadership responsibility without confirming that he personally forced the falsification.

  Source

• 2023

  Bankruptcy proceedings

  Levdeo applied for bankruptcy amid financial and operational difficulties. Reported enforcement claims exceeded RMB120 million by January 5, 2024.

  Source

• 2021

  Reported dealer-payment delays

  Dealer managers reportedly stated that Levdeo had delayed payments, pointing to financial stress in the company’s distribution network.

  Source

• 2020

  Investigation involving former local official and Li Guoxin

  Li Guoxin was reported to have assisted an investigation into Wang Shuhua, a former Weifang vice mayor and Changle County Party secretary. Li later withdrew from management of Levdeo and resigned from Bidwen positions.

  Source

Read more

• 2023

  Apply for bankruptcyOther

  Background

  Levdeo faced financing shortages, delayed production projects, dealer-payment complaints, and enforcement pressure.

  Action taken

  The company applied for bankruptcy in the Changle County court in Weifang.

  Aftermath

  Bankruptcy reorganization was completed on April 30, 2024, while the manufacturer’s operating status remained defunct.

  Reported enforcement claims. More than RMB120 million (As of January 5, 2024)

  Source

• 2022

  Prioritize deliveries in key marketsStrategy

  Background

  Levdeo stated that funds and production capacity were tight and that delivery capacity could not support all markets equally.

  Action taken

  The company said it would guarantee deliveries primarily in key markets and regions.

  Aftermath

  The statement highlighted the company’s liquidity and manufacturing constraints shortly before its bankruptcy application.

  Source

• 2020

  Launch the Letin i9Product launch

  Background

  Levdeo aimed to compete in a larger SUV segment using the assets and platforms obtained through Yema.

  Action taken

  The company introduced the i9 electric SUV.

  Aftermath

  The i9 expanded the Letin line into larger five-seat electric vehicles, but the broader expansion was later constrained by production and financing problems.

  Source

• 2019

  Acquire Yema AutoM&A

  Background

  Levdeo wanted to enter the larger electric passenger-vehicle market.

  Action taken

  It acquired Yema Auto and planned to adapt existing Yema platforms for electric vehicles.

  Aftermath

  The acquisition enabled the Letin passenger-vehicle strategy and underpinned models including the i9.

  Source

• 2019

  Launch the Letin i3 and i5Product launch

  Background

  The company was broadening its product portfolio from low-speed vehicles toward formally positioned compact electric passenger cars.

  Action taken

  Levdeo launched the i3 city car and i5 compact passenger vehicle under the Letin brand.

  Aftermath

  The models became central examples of Levdeo’s attempt to build a wider electric-passenger-vehicle range.

  Source

• 2018

  Acquire Shaanxi Qinxing AutoM&A

  Background

  Levdeo sought formal production qualifications and a broader presence in new-energy commercial and special-purpose vehicles.

  Action taken

  The company acquired Shaanxi Qinxing Auto and established a production base in Xianyang.

  Aftermath

  The transaction expanded Levdeo’s access to relevant production qualifications and supported its diversification beyond low-speed vehicles.

  Source

1. 1Levdeoen.wikipedia.org