Chinese vacuum maker Dreame winds down carmaking project, state media reports

BEIJING, Aug 26 : Chinese vacuum cleaner maker Dreame is winding down its electric-vehicle venture, which it launched with considerable fanfare in August 2025 with the stated goal of building "the world's fastest car", according to Chinese media reports.The reported wind-down represents a dramatic reversal for the venture, codenamed "Star Project", that Dreame had championed as a key expansion beyond home appliances, with plans to launch its first luxury EVs in 2027.The venture's workforce peaked at nearly 1,000 employees but has since been reduced to a few dozen staff, mainly in finance, legal and human resources, who are handling matters such as supplier settlements and corporate deregistration, state-owned Economic Daily reported on Monday.Senior executives have begun seeking opportunit