Just this past weekend, the whole network is going viral Tesla is taking the process and procedures of acquiring Zotye Automobile, in order to prove the reliability of the rumors, there is also a copy of the "Letter of Commitment" stamped with the official seal of Tesla (Shanghai) Co., Ltd., signed by Zhu Xiaotong, global vice president of Tesla and head of Greater China, it seems that the acquisition of Zotye Automobile by Tesla has basically been settled.
Tao Lin urgently refuted the rumors late at night
In the early hours of the morning, Tao Lin, Tesla's vice president of external affairs, urgently responded to the matter through her personal Weibo, saying that it was "naked fake news."
Tao Lin said that the content of the documents transmitted online was not true, and the signatures and official seals were forged, which was already suspected of crime. Tao Lin called on netizens to present evidence to Tesla who made the documents, and what was the purpose?
The other side of the incident, *ST Zotye, also responded on the investor interactive platform that the company had not heard of the matter.
The rumors that Tesla wants to buy Zotye Automobile actually began in March last year. At that time, some analysts believed that Tesla wanted to complete the VAM agreement, expanding production capacity was a realistic need, and the three bases of Zotye Automobile Yongkang, Jinhua and Hangzhou were very close to Tesla's headquarters, which was convenient for management... A variety of seemingly well-founded analysis conclusions are rampant, so the industry continues to have Tesla will acquire Zotye news.
Interestingly, at the beginning of this year, *ST Zotye issued a clarification announcement on "Great Wall Motor's acquisition of Zotye Linyi Factory", saying that neither the company nor its subordinate Jiangnan Linyi Branch nor Zhuotai Automobile Sales Company had signed any strategic agreements with Great Wall Motors.
Zotye Automobile's acquisition is fake The acquisition of doubts is still staged as true
The predecessor of Zotye Automobile is Huangshan Jinma Co., Ltd., which was established in 1998 and listed on May 19, 2000.
In 2017, Jinma acquired all the shares of Yongkang Zotye Automobile Co., Ltd. for 11.6 billion yuan, and changed the company name to Anhui Zotye Automobile Co., Ltd. on June 7.
In December 2020, Zotye Automobile claimed that its parent company, Iron Bull Group, had been ruled by the court to terminate the reorganization process due to its serious insolvency and inability to continue its operations, and had now declared bankruptcy.
From October 2020 to June 2021, 8 companies of the Zotye department were accepted into bankruptcy by the people's court due to a debt crisis.
Since the establishment of the *ST Zotye reorganization plan, there have been repeated rumors in the industry that it will be acquired, and the "gossip objects" include Tesla, Xiaomi, Weilai, Baoneng, Ningde Times, etc.
Since the beginning of this year, *ST Zotye's stock price has fallen by more than 40%, and in 2021, the company expects operating income of 800 million yuan to 900 million yuan, and expected net profit loss of 400 million yuan to 600 million yuan.
Tesla's production capacity is tight Shanghai Gigafactory has become a major export center
Looking at Tesla's side, the current tight production capacity is indeed a real problem in front of us.
According to data from the Association on March 8, Tesla China's wholesale volume reached 56,515 units in February, with sales of more than 50,000 units for six consecutive months.
Two days later, Tesla China announced that its high-end Model 3 and Y were both up 10,000 yuan. The other side of the price increase is the extension of the delivery cycle, Tesla China official website shows that the current Model 3 series, Model Y long-endurance version is expected to deliver up to 16-20 weeks; Model Y rear-wheel drive version and high-performance version of the maximum waiting time of 14 weeks and 16 weeks, respectively.
In order to meet the rising order volume, Tesla is also looking for ways to increase production capacity. Previously, it has been rumored that a second factory was built in China, and Qingdao, Guangzhou, Chongqing, and Hefei have all reported "scandals" related to Tesla's second factory in China, which is also related to the current urgent expansion plan.
Tesla has also publicly stressed that it plans to expand its production capacity in 2022, and it is expected that the average annual growth rate of vehicle delivery will reach 50% in the next few years, while the Shanghai Gigafactory will become Tesla's main export center.
As of March 13, *ST Zotye had a total market capitalization of 19.263 billion yuan, and Tesla's market value was 822.000 billion US dollars (about 5.2 trillion yuan).