Haomo.AI Shutters: GWM-Backed Unicorn Fires Entire Staff

Haomo.AI, the autonomous driving unicorn backed by Great Wall Motor (GWM), has suspended all operations and dismissed its remaining workforce of approximately 300 employees. The Beijing-based company, once valued at over $1 billion, sent internal notices last week instructing staff not to report to work. This total collapse marks the end of GWM’s attempt to build a proprietary rival to Tesla’s Autopilot.

Key Facts

• Impact: 100% of workforce (~300 employees) dismissed.
• Status: Operations suspended, accounts frozen, offices empty.
• Source: Pandaily, Car News China

The Shutdown

The collapse happened fast. On November 22, Human Resources sent a verbal notice to all staff stating there was “no need to report to work” starting November 24. By November 27, the shutdown was total.

Reporters visiting the company’s headquarters in Beijing and satellite offices in Shanghai found empty desks and powered-down equipment. Employees report that communication channels have been disabled and company bank accounts are frozen. There is currently no clear plan for severance pay or the settlement of months of unpaid wages.

Capital Crunch

Haomo.AI failed because it could not pay the high price of physical AI development. While software AI models are cheap to distribute, autonomous driving requires expensive hardware, massive vehicle fleets, and physical testing.

The company burned through capital from investors like Qualcomm and Meituan but could not secure new funding as its planned 2025 Hong Kong IPO stalled. Without fresh cash to fuel its hardware-heavy business model, the company effectively ran out of gas.

Lost Confidence

The final nail in the coffin was the loss of support from its parent company. Great Wall Motor, aiming to protect its own sales, began shifting its advanced driving contracts to external suppliers like Momenta and DJI earlier this year.

This pivot left Haomo.AI without its primary customer. With no commercial path forward and a technology stack that lagged behind competitors, GWM pulled the plug to cut losses.