Gensol EV lays off 50 employees

Gensol EV, a subsidiary of Gensol Engineering, has laid off 50 employees and is facing delays in salary disbursement due to restructuring and challenging circumstances. Its sister company, BluSmart, has also undergone restructuring and seen multiple senior executives leaving. Despite challenges in fulfilling pre-orders, Gensol Engineering plans to continue with its expansion into EV manufacturing.