How to make the "car-making scam" into a "dark horse in the industry", Dong Mingzhu made a successful demonstration on Zhuhai Yinlong.
In 2021, the monthly price of Gree Electric Appliances experienced 8 consecutive clouds, and the market value fell by nearly 200 billion, followed by investors' doubts about Dong Mingzhu's management ability. Over the years, Gree has developed in smart chips, CNC machine tools, consumer electronics, new energy buses and other fields, but investors rarely see eye-catching results, and even the position of "domestic air conditioning overlord" monopolized by Gree for a long time has also been robbed by the United States. Oakes, who had been ridiculed by Dong Mingzhu as a "thief", also won the lawsuit with Gree, who was sentenced to 167 million in damages. Is Gree really not working? Not really!
First, "car-making scam", or "dark horse in the industry"?
With the popularization of the development concept of "Jinshan Yinshan for Green Water and Green Mountains", in 2016, the new energy travel industry ushered in a period of rapid development. When Huawei, Xiaomi, Meituan and other companies spent tens of billions of dollars to invest in the new energy passenger car industry chain, the keen Dong Mingzhu turned his attention to the track of new energy buses. But unfortunately, Dong Mingzhu took a fancy to Yinlong Car.
Yinlong Automobile was founded by Wei Yincang in 2009, the main business is new energy buses and new energy storage, Dong Mingzhu's valuation was about 13 billion yuan when it entered the shares. In order to acquire Yinlong, Dong Mingzhu did not hesitate to stand against Gree shareholders. After the proposal to "acquire Yinlong" was rejected by shareholders, Dong Mingzhu angrily rebuked shareholders on the spot for "only seeing three points in front of them". As a last resort, Dong Mingzhu pulled up his old friends Wang Jianlin and Liu Qiangdong to jointly raise 3 billion yuan and invest in Yinlong as a natural person.
However, it was not until Dong Mingzhu, after investing 3 billion shares, that Yinlong found that in addition to having bought lithium titanate technology for $57.5 million, there was almost no other purpose, and the valuation of 12 billion yuan could be described as a complete car-making scam. With the failure of Yinlong's listing, high-level infighting, employee layoffs, and factory shutdowns occurred. At this moment, Wei Yincang, who was the chairman of Yinlong, actually threw off the company and absconded. Wei Yincang, who fled overseas, also beat a rake and pushed the blame for Yinlong's trapping to Dong Mingzhu, claiming that Dong Mingzhu's acquisition could not be maliciously suppressed, which caused Yinlong's valuation to dive, and he also had to "flee."
In the face of Wei Yincang's big words, Dong Mingzhu, as a "victim", made a bolder decision: to fully acquire Yinlong. In August 2016, Gree Group officially became the first shareholder of Yinlong through judicial procedures. In August 2021, Gree acquired another 30.47% stake in Yinlong for 1.828 billion yuan. In 2021 "Double 11", Yinlong changed its name to "Gree Titanium" and became a new member of Gree Manufacturing Empire, and Yinlong also officially ushered in the "Dong Mingzhu Era". Why is yinlong already thundering, and Dong Mingzhu still dares to increase investment?
Second, dong mingzhu to create lithium titanate battery technology, what is the mystery?
According to the data of China Bus Information Network, as of the first 11 months of 2021, the cumulative sales of Yinlong Automobile, which has been renamed "Gree Titanium", is 1813 vehicles, up 171% year-on-year, of which in September 2021, Gree Titanium rushed into the top 3 of the domestic new energy bus sales list, second only to Yutong Bus and BYD. The reason why Gree Titanium has received such explosive growth stems from Dong Mingzhu's concentration of funds to create the core technology of "lithium titanate battery" for Gree Titanium.
The first thing Dong Mingzhu did after taking over Yinlong was to draw a large number of Gree technical backbones to study and verify a number of new energy bus technologies such as lithium titanate batteries, and established 8 industrial parks in Zhuhai, Guangdong and Shijiazhuang, Hebei. After several years of technical research, Gree's new energy bus has achieved breakthroughs in battery management technology, all-plastic battery box technology, stepless variable speed technology and other fields, giving full play to the multiple advantages of lithium titanate batteries, making Gree titanium's battery technology widely used in electric buses, municipal vehicles, airport shuttle cars and other models.
1. High charging efficiency:
The "zero strain" material of The yinlong lithium titanate battery ensures the rapid migration of lithium ions in the spinel structure of the battery, which greatly increases the charging efficiency. The improvement of the diffusion coefficient of lithium ions has doubled the discharge efficiency.
In December 2020, Yinlong Electric Vehicle staged a "charging show" in CCTV's "Economic Half Hour" program. Under the camera, the Yinlong electric vehicle only charged for 3 minutes, the power rose from 30% to 66%, and after 5 minutes, the power was charged to 99%. From residual to full charge, the lithium titanate battery took only 8 minutes.
2, the use of safety life is long:
The data shows that since the Yinlong bus was put into use, there has not been a single case of battery-induced vehicle failure. The fourth-generation lithium titanate battery produced by Yinlong in 2013 has now been charged more than 2,000 times, and the battery power has only been attenuated by 10%. Moreover, lithium titanate batteries are also the only lithium batteries in the current lithium batteries that support more than 30,000 cycles of charge and discharge.
In the extreme needle punching, extrusion, cutting and other battery destructive tests, Gree lithium titanate batteries do not smoke, fire, and explosion. In this regard, Chen Qingquan, an academician of the Chinese Academy of Engineering, praised that Gree's lithium titanate battery is one of the highest security lithium batteries at present.
3. Strong temperature difference resistance:
Different from the layered structure of traditional lithium batteries, the spinel three-dimensional structure of lithium titanate batteries makes their charge-discharge stability increase significantly. After performance verification, Gree's hydrogen and titanium kinetic energy bus can run smoothly for a long time even in the large temperature difference environment of -50 °C to 60 °C.
Because of the excellent performance of safety and stability, at the beginning of 2021, Yinlong lithium titanate technology passed the CNAS technology assessment. Some time ago, it was also selected by the Ministry of Industry and Information Technology as a "national manufacturing single champion product".
III. Conclusion
At the beginning, many people were not optimistic about Dong Mingzhu's "wide net" in mobile phones, chips, automobiles and other fields, in this regard, Dong Mingzhu's friend Wang Jianlin explained: Many people can't understand the decision-making of entrepreneurs, and what others are optimistic about is not a good opportunity.
From "car-making scams" to "dark horses in the industry", Yinlong's success is undoubtedly the most important thing to thank dong Mingzhu, who is committed to "mastering core technology". Because of Dong Mingzhu's persistence, Yinlong Automobile, which is saddled with a "circle money scam", has embarked on a development path with lithium titanate batteries as the core technology.
Wang Jianlin and Liu Qiangdong, who once bet on Yinlong with Dong Mingzhu, are now also making a lot of money. In this "gamble", the only loser is Wei Yincang, the founder of Yinlong. Wei Yincang underestimated the potential of Yinlong Automobile, which he founded, and also underestimated the strength of Dong Mingzhu, a manufacturing "strong woman".