ChinaNews.com client Beijing, July 8 (Zhang Xu) The car circle in the first half of 2020 is particularly calm.
In the last month, the three car companies of Xielin, Bojun and Baiteng in the new car-making forces have successively "stormed". Among them, the owners of Xilin and Bojun are far away from the United States, following Jia Yueting. How did they fall from a star-studded star enterprise? Where is the new car-making force with chasing soldiers?
Sailin Wang Xiaolin is suspected of committing crimes far from the United States, accused of defrauding billions of state assets
On the evening of July 2, the Rugao Economic and Technological Development Zone Administrative Committee issued a notice saying that Wang Xiaolin, chairman and chief executive officer of Jiangsu Sailin Automobile Technology Co., Ltd. (hereinafter referred to as "Jiangsu Sailin"), was reported to the public security organ for suspected crimes. Public security has also accepted. But at this time, Wang Xiaolin, already far away from the United States, became Jia Yueting second.
Wang Xiaolin, chairman of Sailin Automobile. The picture comes from the public number of Sailin Automobile
In 2015, after Pang Youth who invested and started a business in Rugao, Jiangsu, Wang Xiaolin's Sailin Automobile settled in Rugao. At that time, Pang Qingnian was not known for water-hydrogen vehicles, and Wang Xiaolin also had the banner of Dr. Going Back, relying on the technology he mastered to buy shares.
On the surface, Sailin Automobile has five shareholders, but in fact there are only two shareholders: Nantong Jiahe and Wang Xiaolin. The former is from the background of state-owned assets, with a share of about 3.4% of the 3.4 billion yuan shareholding; the four companies actually controlled by the latter, Rugao Salin, Nantong Shimai, Nantong Weimeng, and Rugao Jitai, invested 6.6 billion yuan in the form of technology, and the shareholding ratio About 66%.
Wang Xiaolin once stated to the outside world that after the completion of the plant, Sailin will achieve an annual capacity of more than 400,000 high-performance vehicles with an annual output value of more than 200 billion yuan. But in fact, since the factory opened in February 2017, only one Maimai model has been off the assembly line. The super-running series S1, which is scheduled to be launched in 2020 in Sailin's plan, as well as the super-running SUV Mai Ke, have no movement.
Sailin Maimai. The picture comes from the public number of Sailin Automobile
Although Wang Xiaolin's promise has never been fulfilled, Nantong Jiahe has become the only blood transfusion of Sailin Auto. From July 5 to November 12, 2019, Rugao Salin, Nantong Shimai, Nantong Weimeng, and Rugao Jitai successively pledged part of the Cylin held by the same pledgee-Nantong Jiahe Automobile equity, the total amount of pledged equity is 2 billion yuan.
On July 8, 2019, Sailin Automobile and Nantong Jiahe signed a mortgage loan contract to mortgage 28 sets of equipment. The value of the collateral was 1.212 billion yuan and the amount of the policy was 1.2 billion yuan. With only equity pledges and equipment mortgages, Nantong Jiahe provided about 3.2 billion yuan of loans to Sailin Auto.
On July 20, 2019, Sailin Brand Night opened in the Bird's Nest. That night, Wang Xiaolin spent a lot of money to invite Jail Stanson and Wu Yifan, the global spokesmen of Sailin, and recalled deeply that year when he stood on the streets of the United States and had only a $100 in his pocket, but had a super-run dream.
However, this mammoth press conference has nothing to do with the super race, only the Xilin Maimai dubbed as "Old Man Music" was released. Due to poor sales, the Jiangsu Sailin Tmall flagship store was closed one month after its launch. According to the statistics of the traffic insurance data of Jiaotong Insurance, as of the end of May 2020, Maimai had only 27 vehicles nationwide.
Since then, Silin hasn't moved much, until Qiao Yudong, the company's former legal officer, made a public report on April 27. Qiao Yudong said that Wang Xiaolin’s “actually controlled” four foreign shareholders were suspected of “fake technology investment”, and invested $5.5 billion and $1.1 billion in technology at a cost of US$500,000 and US$20 million, respectively, and obtained a controlling stake in Sailin Auto. Power, resulting in the loss of billions of state assets.
On April 27, Qiao Yudong publicly reported Wang Xiaolin. Screenshot of Qiao Yudong on Weibo
According to information provided by Qiao Yudong, Sailin's only sale model Maimai is actually called "Mycar", which is a scooter developed by a Hong Kong low-speed electric vehicle company that Wang Xiaolin acquired for around $20 million in 2010. The overall driving range of the car is only 305 kilometers, but after the subsidy, the price is as high as 160,000 yuan, which is twice the price of the new energy model with the same positioning.
After the report letter was issued, local officials in Nantong intervened in the investigation. On June 23, Jiangsu Sailin Shanghai Company received the seal notice of Nantong Intermediate People's Court. Prior to this, Jiangsu Sailin Rugao factory was also sealed up.
Wang Xiaolin called it the "accused incident" and responded repeatedly through live media. However, Sailin's mess could not wait for his own CEO. Wang Xiaolin, who traveled far away in the United States, said that flights affected by the epidemic have been cancelled many times and temporarily unable to return to China.
Bo County Huang Ximing "will not return to China", intends to "abandon car manufacturing"
Like Wang Xiaolin, Bo Xiong, the boss of Bojun Automobile, will return to China next week. In June, some media reported that Huang Ximing had successfully used his other identity to "return to the United States" and said "will not return to the country."
Founded in 2016, Bojun Automobile, formerly known as American Advanced Vehicle Technology Co., Ltd. (AVT) and Shanghai Sizhi Automotive Engineering Technology Co., Ltd., is engaged in chassis design and vehicle performance development services.
On April 11, 2019, Bojun Auto held its first brand night. The official debut of Bojun i-SP, i-MP, i-LP three platforms and electric SUV Bojun iV6 and Bojun iV7. During the 2019 Shanghai Auto Show, Bojun Auto Jun iV6 starts global reservations. Bo Jun said at the time that the model will be mass-produced at FAW Xiali's second-stage plant and will be delivered in the first quarter of 2020. However, to this day, the electric vehicle that hits the face of Tesla does not see any road test information.
Bo County Automobile failed to achieve mass production. Bojun Automobile official website screenshot
There have also been cracks in the cooperation between Beau County and Xiali. In September 2019, Bojun Automobile and FAW Xiali officially established Tianjin Bojun Automobile Co., Ltd. with a registered capital of 2.54 billion yuan. Bo Jun invested 2.034 billion yuan in cash, with a shareholding ratio of 80.1%. FAW Xiali invested 505 million yuan in assets and liabilities related to vehicles, land and plants, with a shareholding ratio of 19.9%. Bo County thus obtained the qualification to build cars.
According to the agreement, within 30 days after obtaining the business license, Bojun Automobile must complete the first payment of 1 billion yuan, and the remaining payment must be completed within 6 months. However, according to the announcement issued by FAW Xiali on May 28, 2020, Bojun Automobile only paid 14.1 million yuan to Tianjin Bojun.
On June 13, Huang Ximing issued an open letter. In addition to changes in the market environment, Huang Ximing attributed the company's financial woes to "missing many financing opportunities", causing irreparable losses to the company's cash flow management.
Huang Ximing said in the letter: "Bojun Automobile has now decided to reposition the company's business model. At the current stage, with the achievements and products already formed by the company, it actively cooperates with foreign countries to strive to create positive cash flow and fulfill the company's legal obligations. , To protect the rights and interests of all employees, suppliers, shareholders and relevant parties." This is also regarded as "abandoning car manufacturing" by the outside world.
Bo County Open Letter.
Bai Teng defaulted on salary of employees, CEO Dai Lei announced "stop production and stop production"
At the end of June, CCTV reported that Baiteng Automobile owed employees salaries for 4 months. In addition, the Byton Shanghai office was withdrawn from rent in April and the Beijing office was withdrawn from rent on June 17. The Nanjing plant has also recently shut down due to arrears of water and electricity. In the end, Byton had no choice but to press the pause button.
Dai Lei, CEO of Byton Motors, announced that it will suspend the company's business operations in Mainland China from July 1. "During the shutdown period, most of the employees in China will be on duty, and only a small number of employees will stay on duty to maintain the company's most basic functions."
In September 2018, Byton acquired 100% of the shares of FAW Huali subsidiary FAW Huali at a price of 1 yuan, and obtained passenger car production qualification at the cost of Baiton's 800 million yuan debt and 54.62 million employees. Salary. Later, the payment was also overdue by Byton. FAW Xiali disclosed in the announcement that before June 30, 2020, Byton has not yet paid 470 million in arrears.
Bai Lei CEO Dai Lei once announced at the press conference that the mass-produced car M-byte will be mass-produced in early 2019. However, funds are not enough to support Byton to go that far.
Byton raised a total of approximately US$1.2 billion. Data Source: Enterprise Check
Since its establishment in 2017, Byton Auto has conducted a total of four rounds of financing, with a total amount of about 1.2 billion US dollars, far lower than Weilai, Weimar and other competitors. Due to the delay in the implementation of the new financing, Byton eventually burned out the money but failed to reach the stage of mass production.
Zhang Xiang, an automotive analyst at the Ministry of Industry and Information Technology’s Talent Exchange Center, told reporters at Chinanews.com that the new forces of building vehicles such as Byton Auto and Bojun Auto are facing a huge crisis without a new round of financing.
"Bai Teng Automobile should follow the example of Bo County Automobile, give up building cars as early as possible, and find ways for employees through various methods. Either shut down or shut down, this is the best destination for Bai Teng Automobile. This will also ensure the maximum protection of employees. Interests, so that they can find new job opportunities as soon as possible." Zhang Xiang said.
In 2020, more than 20 new power companies are expected to give up making cars
Since 2015, many new car-making forces under the banner of “Internet + Electricity” have been established, and there were nearly 50 at most. At present, in addition to the above-mentioned three companies, Aichi Automobile, Skyline Automobile and Future Car have also been exposed by employees to pay arrears or layoffs. Among them, Future Automobile Chairman Lu Qun has also been included in the list of persons who have been dishonest.
With the deployment of new energy vehicles by foreign capital and international giants, capital is becoming more cautious about the new power car companies that have not produced energy. Judging from the recent situation, most of the companies that can obtain financing are the head enterprises that have already realized mass production, and it is becoming more and more difficult for companies that cannot mass produce and have no financing to survive.
On the one hand, because the cake is getting smaller, the overall market is declining. Monthly data from the China Association of Automobile Manufacturers show that from January to May 2020, the production and sales of new energy vehicles were 295,000 and 289,000, down 39.7% and 38.7% year-on-year, respectively.
On the other hand, the new forces in car manufacturing are also undergoing differentiation. According to data from the Federation, in May, only eight new car-making forces including Weilai, Ideal, Weimar, and Xiaopeng sold new cars. Among them, only Weilai Automobile delivered more than 10,000 vehicles.
Data from the Federation
Zhang Xiang said, “This year’s auto market is not difficult to return to last year’s sales level. Generally speaking, an automobile company’s annual sales volume must reach at least 100,000 units in order to achieve economies of scale. There are only a few new forces such as Weilai and Xiaopeng, and many other small brands cannot even sell more than a thousand vehicles. In the next few years, under the competition of more competitors such as Tesla, the sales of new forces in the tail-building car will also be There will be no big improvement."
"By the end of 2020, the new domestic car-making forces may be reduced from more than 40 to 10-15, and at least more than 20 new-power companies will abandon car-making." Zhang Xiang said that the car-making fever has significantly cooled, and the remaining new The financing of powerful auto companies is becoming very difficult. The investment in the business model of car manufacturing is too high and it is too difficult to make money. Moreover, the entire industry is undergoing tremendous changes. The state allows foreign investment to build factories independently, the market is becoming more open, and competition is becoming fiercer. (Finish)