Chinese EV startup Seres halts US launch, lays off 90 people in Silicon Valley

Seres, the Chinese EV startup formerly known as SF Motors, is laying off 90 people in its Silicon Valley office, the company announced in a staff meeting held earlier today. The US launch of its first electric SUV, the SF5, is also now on hold, according to a recording of the meeting obtained by The Verge. It had originally planned to make and sell its electric SUVs in both China and the US, with a release slated for later this year.
Around 300 people worked in the Silicon Valley office prior to the layoffs, according to a former employee who was granted anonymity because of a non-disclosure agreement with the company. The layoffs affect multiple parts of the company, including sales, marketing, IT, HR, legal, operations, and design,…

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