The death of Borgward, a place of chicken feathers

The elaborate whitewashing of his origins finally revealed his original form in the reality of a chicken feather, and Borgward was no longer able to sing this one-man show.

The overture came faintly from June last year, when news broke that Beijing Borgward was about to enter bankruptcy proceedings.

On January 27 this year, Foton Motor announced that Beijing Borgward could not continue to maintain operations due to the exhaustion of funds and had entered a state of suspension.

On April 8, Foton Motor issued another announcement that Beijing Borgward held an extraordinary shareholders' meeting today, and resolved to apply for bankruptcy liquidation in accordance with the law.

In this one-word sentence, Borgward died quietly, and even did not make a decent splash in the car circle.

Destiny

Happy families are all similar, and unhappy families have their own misfortunes.

Tolstoy is writing Anna. When Karenina was ", it may not have been possible that this sentence would be confirmed in Borgward in the distant future.

Borgward's misfortune is very special.

One thing can be basically clear, Borgward is not defeated in the product. If you have the opportunity to contact real Borgward owners, they may complain to you about excessive fuel consumption, battery failure, leakage of antifreeze and other small problems, and almost no one complains about the three major pieces.

Looking back, Borgward was born at the turning point of the world's automotive industry that has not been seen in a hundred years.

——The fuel vehicle has become extremely prosperous and is about to slowly turn around and go down. New energy vehicles have just broken through the cocoon, making it impossible to see the future.

Cycles have been staging the magic of industry life and death.

When the cycle comes, the industry opens the door of Alibaba, market share, product profits are coming, and the valuation of enterprises is also multiples up.

And by the end of the cycle, all the technical adjustments have collectively failed, and all past achievements and reputations have been thinned over and over again.

The cycle is like the relaxation and contraction of the heart, one by one, completing the metabolism of the industry and the forging and strengthening of great enterprises.

The temporary success of the new forces and the complete failure of Borgward are essentially the role of the industrial cycle.

Of course, the death of Borgward also has its particularity, and this particularity is Borgward's high-end path.

German trademarks are matched with Chinese capital, which has made many business legends. But this road, Borgward did not go through.

In terms of brand building, Borgward is adventurous.

Borgward overestimated Futian's technological accumulation and mistakenly put itself in line with the BBA.

Unrealistic references to the fourth largest Ashkenazi luxury car, the BBBA pattern, and so on, make Borgward's death full of playful satire and performance art.

Putting aside these, there are many reasons for Borgward's death, such as the "out" of the patron king Jinyu, who should not commit himself to Lu Zhengyao's Shenzhou system...

Just like knitting a sweater, every inadvertent mistake is a wrong stitch, and even if the next time you have enough strength, you still weave a new mistake along the trajectory of the previous stitch.

When Lu Zhengyao's Shenzhou system began to collapse in 2020, Borgward was doomed to die.

Whale fall

A whale falls, and everything lives.

Although Borgward cannot climb the status of "whale", what cannot be ignored is the quality of Borgward's remaining properties.

On the one hand, Borgward Miyun factory has a full-year production capacity of 180,000 vehicles, and the production line is very advanced. On the other hand, Borgward has the dual production qualification of traditional fuel vehicles and new energy vehicles.

The most common thing about traditional OEMs is the factory, which does not touch the qualifications and does not care about the debt, just like the Great Wall taking over the Zotye Linyi factory.

But don't overlook another problem, the reason why Foton Motor is called Beiqi Foton is because BAIC has become the largest shareholder of BEIQI Foton with 27% of the shares.

At the beginning, BEIQI Foton took Borgward into passenger cars, and BAIC was opposed. Today, BAIC is also reluctant to attract another fuel passenger car manufacturing predator at its doorstep.

The new forces car manufacturing cares a lot about qualifications, but also cares about factories. The problem is that at present, Borgward Miyun Factory has almost no new energy vehicles, especially the mass production capacity of pure trams.

What's more, in the regional structure of pure tram production and marketing, the entire North China and Northeast China regions are in a disadvantageous position.

Most of BYD's and new forces' factories are in the south and central and eastern regions, Tesla is in Shanghai, and even FAW-Volkswagen's MEB factory is located in Foshan.

At this stage, the process of power battery is more suitable for the south, which is also an indisputable fact.

What's more, Borgward's complex shareholding structure and constant and chaotic creditor's rights and debts will become a fatal obstacle to acquisition.

The balance of interests of all parties has made Beijing Borgward fall, and the inextricable economic entanglements have once again reduced the willingness of new capital to enter.

This is the biggest embarrassment of Beijing Borgward at present.

Borgward died, and Borgwar came.

With the support of the relevant departments, Borgward was founded. After the bankruptcy of Borgward, Borgward will continue to provide maintenance services and spare parts supply to car owners in accordance with the original after-sales service policy.

Because of this, there is also a trace of goodwill for Borgward.

Since it is a fatalistic arrangement, even if you die, you should be decent when you fall.