(Yicai Global) Feb. 10 -- A court in China has accepted for review the bankruptcy filing made by Orange Electric Travel Technology, a joint venture of Li Auto and Didi Chuxing that makes custom smart electric vehicles for ride-hailing services.

Orange Electric filed for bankruptcy last August on the grounds that it could not meet its debt obligations. The JV had liabilities of CNY52.7 million (USD7.8 million) as of March 31 last year, compared with assets of CNY3.7 million (USD547,000), according to information on corporate data platform Tianyancha.

The carmaker, 51 percent owned by Didi unit Xiaoju Automobile Solutions, was set up in 2018 with a registered capital of CNY400 million (USD59 million). New energy vehicle startup Li Auto owns the rest.

Beijing-based Didi has other vehicle manufacturing JVs such as Meihao Chuxing Automobile Technology, a firm it set up with Chinese NEV giant BYD to design, research, and develop ride-hailing cars. Didi owns 35 percent, and BYD the rest.

Editor: Martin Kadiev