AsianFin -- A major dealer of electric vehicles from Chinese automaker BYD has gone out of business in Shandong province, with at least 20 of its outlets found closed or abandoned, according to state-owned media.

Qiancheng Holdings, the company that operated the BYD dealerships, has reportedly encountered serious financial trouble, the Jinan Times said on Wednesday.

The collapse has left more than 1,000 customers without access to warranty coverage and after-sales support. The Jinan Times is owned by the government of Jinan, the provincial capital.