In 2010, a Chinese engineer and manager Lu Qun, who worked in the 1990s at a local automotive concern BAW, decided to establish, together with his business partners, Beijing Great Wall Huaguan Automobile Technology Co., Ltd.
[4] A year later, at the next edition of the capital China exhibition, Qiantu presented two more new studio announcements of new models that are to complement the manufacturer's portfolio in the future - K25 and Concept 2.
[8] The vehicle with this market in mind is to be delivered to customers under the name Mullen Dragonfly after completing the production facilities in Brea,[9] which, however, was ultimately not implemented, and Qiantu Motors itself fell into crisis.
The car took the form of an affordable, city hatchback with a fully electric drive, going on sale immediately after its premiere only in the Chinese market.
[12] The bankruptcy application was filed by Senter Group Co., Ltd. and China Electronics Engineering Second Construction Co., Ltd., citing Qiantu Motors' inability to repay debts totaling approximately 72 million RMB and its insufficient assets to cover liabilities.