Dreametech’s automotive ambitions collapse into abandoned prototypes and empty offices.

Twelve months ago, the company’s bold claims of sub-1.8-second 0-100 km/h performance and revolutionary car concepts captivated attention. Now, those vehicles remain covered in a Suzhou basement, reduced to expensive but immobile showpieces, while financial losses mount.

The exodus of employees underscores the failure. Once boasting nearly a thousand staff across its automotive division, over two-thirds of desks now sit vacant, with only about a hundred remaining. Recruiters report a surge of departing executives—specialists in R&D, supply chain, finance, and government relations—all abandoning a project with no viable path forward.

Dreametech’s strategy borrowed heavily from Huawei’s playbook: vertical integration of core technology with outsourced production. The execution, however, fell apart. No manufacturing partner materialized, despite claims of a potential alliance with Chery, which denied any strategic partnership. A planned 400,000-square-meter factory in Shanghai’s Lingang Special Area remains undeveloped, labeled merely as “in planning”—a corporate euphemism for stagnation. The automotive efforts further fractured into three competing units—Starry Sky, Starry Future, and Interstellar Travel—each pursuing disjointed segments from hypercars to luxury SUVs, creating an unmanageable coordination crisis.

Beyond cars, Dreametech’s diversification into over 200 ventures—spanning semiconductors, energy storage, smart wearables, and low-altitude economy initiatives—has left the company overextended. Most experimental units are now being consolidated into a centralized “Industrial Research Institute.” Even its core home-appliance business faces strain, with suppliers reporting delayed payments and creditors organizing online to demand settlements.

While Dreametech remains dominant in the robot-vacuum market, the margins from floor cleaners cannot sustain its ambitions for supercars or a semiconductor empire. The “industrial crown” it pursued has instead become an anchor, dragging the company toward financial instability.