sur Fox E-mobility AG (isin : DE000A2NB551)
Fox E-mobility AG Faces Contract Breach by Yangji Group
Fox E-mobility AG announced a breach of contract by Yangji Investment Partners LLC. The firm failed to meet a final deadline set on December 18, 2024, for servicing a credit line worth at least EUR 2 million, originally agreed upon on March 7, 2023. This deadline expired on December 31, 2024, without any payment or further communication regarding a payment date or proof of funds from Yangji.
Fox E-mobility perceives this as a deliberate contract violation and deception involving Yangji's other entities and responsible individuals. This breach has significantly impacted the company's liquidity, delayed vehicle development, and influenced restructuring proposals for the upcoming General Meeting.
The company is currently considering measures to seek compensation for the damages incurred due to the Yangji Group's actions.
R. H.
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