Sometimes the Dreame Dies

Dreame Technology, like the UK’s Dyson, wanted to expand their portfolio beyond vacuum cleaners. Sir James Dyson invested (and lost) $600M in a failed effort to launch a luxury electric crossover, but Dreame aimed even higher (although no one knows how much money was invested). Bugatti- and Rolls-Royce-inspired EVs were joined by supercars, highlighted by an appearance at CES in Las Vegas this past January.

But it sounds like the business model for Dreame’s automotive business wasn’t even stable enough to be referred to as a “house of cards”. The Nebula Next 01 “Rocket Car” unveiled this spring claimed solid-state-batteries and 0-60 in under one second. Car News China reports the car didn’t even have a functional chassis, and was “allegedly purchased from a Shanghai-based model company for several million yuan (hundreds of thousands USD) and modified with a chassis and thrusters to create a visual effect for the cameras”.

Dreame isn’t the first Chinese EV startup to collapse (and they won’t be the last), but certainly one of the most fascinating to watch...

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