Lead
Introduction
Behind it is the problem of overcapacity of China's new energy vehicles.
Author 丨 Yi Day
Responsible editor 丨 Cao Jiadong
Editor 丨Zhu Jinbin
"Kunming Baoneng New Energy Automobile Parts Production Project" and "Qoros Automobile Co., Ltd. (Kunming) Branch Construction Project" were removed.
Baoneng Group, which did not have a single vehicle mass-produced off the production line, has lost two production bases in Yunnan. It is reported that the Baoneng New Energy Automobile City project in Kunming covers an area of about 6318 acres, with a planned production capacity of 500,000 vehicles.
According to the announcement of the Yunnan Development and Reform Commission, the above two projects of Baoneng were filed on May 7, 2018 and August 28, 2018, respectively. After investigation, after the filing of the above two projects, the project unit did not start construction for two years overdue, did not make an explanation through the online approval and supervision platform for investment projects in Yunnan Province, did not withdraw the filing information, and did not make corresponding treatment after being reminded.
It is worth noting that the more than 600 mu of industrial land acquired by Baoneng Group in the Kunming Economic Development Zone was transferred for the second time in the following months, and the buyer became a local investment company in Kunming. Obviously, Baoneng has given up too much investment in Kunming and turned to a more "relaxed" state to build cars or may not build cars directly in Kunming.
In Baoneng and Evergrande, two typical cross-border car-making housing enterprises, Evergrande has desperately tried to show the determination of "not to build a car, rather than die", while Baoneng, which also encountered liquidity problems, has not been rarely moved, which has also made the center of industry doubts shift from "car enclosure" to "whether it can build a car".
Baoneng is just an example
Yao Zhenhua, chairman of Baoneng Group, has publicly stated that Baoneng Group aims to build a world-class automobile group, and strives to become a world-class automobile manufacturer, mobility service provider, integrated service provider and heavyweight automobile enterprise group in 10 to 15 years.
Since its establishment in 2017, Baoneng Automobile Group has established seven production bases in Shenzhen, Guiyang, Kunshan, Xi'an, Guangzhou, Kunming and Fuyang in three years. According to incomplete statistics, Baoneng's car-making base and projects cover an area of nearly 9,000 mu, and after all of them are completed, the automobile production capacity will reach 3.3 million, including 2 million new energy vehicles.
In recent years, it has also been the heyday of the outbreak of new energy vehicle projects, with cross-border car manufacturers and new forces car companies emerging in an endless stream, and local cities have also regarded new energy vehicle companies as guests. Under the influence of these two forces, the production capacity of new energy vehicles continues to expand, which directly leads to local investment after the cooling off period.
Therefore, in October 2020, the General Office of the State Council issued the "New Energy Automobile Industry Development Plan (2021-2035)", which clearly proposed to curb the chaos such as blindly embarking on new energy automobile construction projects. In November of that year, the National Development and Reform Commission issued a notice requiring local development and reform commissions to report on the investment in new energy vehicles in various places, including the public naming of Evergrande and Baoneng.
At that time, Baoneng Automobile also wrote back to admit its false publicity and water injection of production capacity.
After the news of the removal of the Baoneng Kunming project was announced, the local media Yunnan Fangwang survey found that on the relevant projects in the Qingshui area of the Kunming Economic Development Zone, it was seen that the production workshop and other buildings in the park had basically completed the basic framework, and some of them had been capped, but the park was cold and clear, almost no one could be seen, and it seemed that work had been stopped for a long time.
Like Evergrande, Baoneng also despises the investment and difficulty of car building. Baoneng Group once pointed out that the group encountered temporary capital turnover difficulties, the fundamental reason is the comprehensive impact of the huge capital investment in the manufacturing industry, the superimposed financing concentration and maturity. Therefore, except for the bases acquired and built by Shenzhen, Changshu and Xi'an, the bases in Hangzhou, Kunshan, Guiyang and other bases have not moved at all.
However, according to the current situation of Baoneng, in order to successfully build a car, it is still necessary to find a city with strong strength and welcome new energy vehicle projects as a dependence, and this city is Guangzhou. Although Evergrande Automobile is registered in Guangzhou, the headquarters of Baoneng New Energy Automobile Group is also located in Guangzhou.
At the beginning of April this year, the main structure of the Guangzhou Baoneng New Energy Automobile Industrial Park project undertaken by China Construction Third Bureau was completed. The project is located in Huangpu District, Guangzhou, with a planned total land area of about 990,000 square meters, and the construction content includes stamping workshop, welding workshop, painting workshop, assembly workshop, Pack workshop, joint power station room and other ancillary units, which can achieve an annual output of 300,000 sets of unpowered body and 100,000 sets of battery packs after completion.
The production capacity of the Guangzhou base is also said to be 500,000 units, and the GX16, the first model of baoneng automobile's high-end brand BAO brand, will be put into production at the Baoneng automobile guangzhou base and strive to roll off the production line in July this year. At the baoneng automobile new car tasting meeting at the beginning of this year, a variety of models under the BAO brand and Qoros automobile were also exposed for the first time.
As for whether the story of Baoneng's car can continue to be told, Baoneng's car is like Schrödinger's cat, and such an evaluation is no longer important to Baoneng. Importantly, when the local government removed the car-making project, the industry has realized that the problem of new energy vehicle production capacity is more prominent today.
Capacity explosion warning
Some time ago, Lin Nianxiu, deputy director of the National Development and Reform Commission, said that problems such as blind investment and disorderly development of new energy vehicles exist to varying degrees, so it is necessary to rely on existing production capacity to develop new energy vehicles. Vehicle enterprises should highlight the key layout, and no longer add new production capacity layout before the existing base reaches a reasonable scale.
According to the data of the Federation of Passenger Vehicles, by the end of 2021, the national passenger car production capacity totaled 40.89 million units, and the capacity utilization rate was only 52.47%. Among them, the capacity utilization rate of 36 car companies is less than 20%, and the annual sales of less than 10,000 car companies are as high as 29. In the case of overall overcapacity of passenger cars, there are still 10.46 million units under construction that will be completed and put into operation, and most of the current production capacity under construction is for the use of new energy passenger cars.
Tan Xuguang, CEO of Weichai Power, which has little to do with new energy vehicles, also said: The new energy industry has been relatively lively in recent years, and then everyone is in disorderly competition, and the whole vehicle of new energy, especially passenger cars, will have a catastrophic overcapacity.
The China Securities Daily previously reported that from 2015 to 2017, when the first batch of new car-making forces surged forward, the planned production capacity was as high as 20 million vehicles per year. However, in addition to a few head enterprises, most of the new car-making forces have not come to the step of mass production. Among them, the sales volume of new car-making forces such as Bo County, Zhidou, Time and Space, and Lingtu in 2020 is 0.
Wang Fengying, president of Great Wall Motor, put forward the "Proposal on Promoting the Utilization Rate of China's Automobile Industry Capacity" at the two sessions this year, first of all, to give full play to the advantages of regional agglomeration to make full use of existing production capacity; second, to coordinate the development of idle production capacity, encourage mergers and acquisitions, and accelerate the construction of smart factories; once again, we must strengthen supervision, establish an exit mechanism, and avoid waste of resources.
Several head independent brands, including Great Wall, Geely and BYD, have also begun a series of acquisitions, and the factories of some brands such as Lifan, Zotye and Cheetah have been divided. Revitalizing idle production capacity and oem new power brands are all effective means to improve the capacity utilization rate of the industry, but in the face of some more powerful automobile brands, some cities still compromise for new factories.
For example, BYD, which is gaining momentum in new energy sales, is acquiring the Production Base of Mahayana Automobile and is also building two factories with a total production capacity of 600,000 vehicles in Xiangyang and Shenzhen. Xiaomi Automobile also officially started construction in Beijing Yizhuang Economic Development Zone, with a total production capacity of 300,000 units in the first and second phases of the plant.
In fact, the total production capacity of new energy vehicles in mainland China at the end of 2020 has reached 26.69 million, even if the new production capacity is not added, according to the annual sales of new energy vehicles of 5 million, there are still more than 20 million idle production capacity. From a more level, new energy lane change overtaking is indeed a practical solution, but the problem of overcapacity cannot be ignored.