The "old man le" of Sai Lin, who cheated 6.6 billion yuan, was finally auctioned, netizens: "Boss Jia is willing to bow to the wind"

After experiencing unpaid wages, employee reports, and the chairman's run, another new car-making force, Sailin Automobile, was announced. According to recent information from Alibaba's judicial auction platform, Sailin Automobile's base in Rugao, Nantong, Jiangsu Province, was auctioned for 2.38 billion yuan.

Although the new car-making force, which has nothing but to circle the money and the land, has received a total investment of up to 6.6 billion yuan from the local pocket, it has only sold 27 old men so far, and the former chairman and former CEO Wang Xiaolin has already "run" to the United States before it was launched.

It can be said that from the establishment of Sailin Automobile to the current bankruptcy and auction, it is not surprising at all, after all, who can expect scammers to make Chinese cars bigger and stronger?

The most paradoxical thing is that such a new car company full of loopholes and hard wounds can actually get a large amount of funds to survive until now, and the initiator is still living happily abroad. What kind of legend is this about an empty glove white wolf?

"Empty Glove Capital"

Sailin Automobile was officially established in March 2016, and its predecessor "Rugao High-tech Entrepreneurship Service Co., Ltd." was established in 2009. The wholly state-owned shareholder Nantong Jiahe holds 33.42% of Sailin Automobile, while Wang Xiaolin holds the other 66.58% through several companies under Zifu Holdings Limited.

Wang Xiaolin

According to the cooperation model between the two sides, state-owned assets provide funds and land, while Wang Xiaolin provides brands and technologies. What technology does Wang Xiaolin have? In 2014, he acquired an American brand, Saleen, which mainly produces limited edition sports cars and retrofit sports cars for OEMs. Wang Xiaolin, on the other hand, worked in a number of law firms after earning a law degree from Duke University, and has no technical automotive technology background other than investing in automotive design in 2006.

Wang Xiaolin said in an interview with the media that it cost 3 billion yuan to build an automobile factory, 1.4 billion yuan was spent on personnel expenses and marketing expenses, and the remaining 1.2 billion yuan or so was used to open molds and do parts support.

This cooperation model of Sailin Motors was then broken. However, in October 2019, Qiao Yudong, a legal employee of Sailin Motors, reported in real name that Wang Xiaolin had defrauded the company's shares under the pretext of "technology investment" and used the so-called "technology" worth $20.5 million to defraud the company's shares and infringe on the interests of state-owned assets. Local state-owned assets provided a total of 6.6 billion yuan of real money and silver.

A report caused a scolding war between Rugao and Wang Xiaolin. Nantong Jiahe issued an announcement saying that because Wang Xiaolin (chairman of Sailin) avoided the United States and neglected to perform his duties, Jiangsu Sailin was unable to continue, so he would use his own funds to solve the social security, provident fund and personal tax of all employees who had completed the resignation procedures before June 30.

Wang Xiaolin spoke out abroad, the reports were false accusations, Nantong Jiahe repeatedly refused bond financing provided by foreign shareholders and financing advisers in order to compete for control, and the latter's lack of funds led to Sailin's deep operational difficulties.

In July 2020, the management committee of the Rugao Economic and Technological Development Zone issued a notice saying that Wang Xiaolin and others were suspected of providing false certification documents, taking advantage of their positions to embezzle huge amounts of funds, and other issues and important clues, and that the public security organs were investigating the suspected criminal behavior of relevant personnel. The infighting in the Racing Car was declared over.

Industry analysts said that the auction of Rugao's production base is only to reduce the current losses, and the reorganization is extremely difficult.

Supercars become old men, and Sai Lin has no intention of building a car

Although Sailin is known as a supercar brand, Sailin Automobile, or Wang Xiaolin, was drunk at the beginning, otherwise he would not have been able to do such a thing as the first model being Old Man Le.

In July 2019, Sailin Automobile spent 300 million yuan to hold a grand press conference at the Beijing Bird's Nest, and invited Wu Yifan and Jason Statham to stand on the platform, in addition to a façade "supercar" SUV model Mike, its highlight is the electric micro scooter Maimai.

This embarrassing "old man" has two models, divided into a sports customized version and a cherry pill customized version, its length, width and height are 2995/1600/1580mm, the wheelbase is 1920mm, equipped with SJ040248A-2103 driven motors produced by Shanghai Zhongke Shenjiang Electric Vehicle, with a maximum power of 109 horsepower (80 kilowatts), and a ternary lithium battery produced by Wuhu Tianyi Energy Technology Co., Ltd.

The maximum speed of Maimai is 100 km / h, the comprehensive endurance is 305 km, and the price range after subsidy is 15.88 yuan - 168,800 yuan.

The Subsequent Wuling Hongguang Mini EV, which was subsequently listed, has a range of 120 kilometers to 300 kilometers and a price of 28,800 to 69,800 yuan. At a price of 150,000 yuan, you can buy a compact pure electric vehicle with a longer battery life and better power.

At that time, as soon as it was listed, some netizens commented, "That old man is happy to grab money, this company is really interesting, is it insulting the intelligence of consumers?" "Definitely here to cheat on subsidies, and this price is not intended to be sold at all!"

It turns out that Sai Lin Automobile did not intend to deceive the state subsidies. It is reported that as of May last year, Sailin Automobile had sold a total of 27 vehicles.

Building cars and selling cars can't make money, and These Wang Xiaolin who are far overseas are not worried. He said: "It is difficult to find a ticket for the epidemic to be trapped in the United States", and in early July 2020, he publicly said, "I do not plan to return to China for the time being, and there is no point in going back now." ”

The new forces of car-making are receding

With the comprehensive decline of subsidies for new energy vehicles this year and the impact of the new crown epidemic, the investment boom in new energy vehicles that emerged from 2015 to 2017 has gradually cooled down, and few of the more than 200 new energy vehicle production projects planned to land at that time have also been successful.

A failed car manufacturer, Sailin Motors is not the first, nor will it be the last. Before The Sailin Car, the LeTV car under the "ecological anti", the Ranger car of the ancestor of the "PPT" car, and the Byton car that ate tens of millions of yuan a year snacks, all fell down one after another. Others such as Singularity Cars, Bo County Cars, Future Cars, and Yundu Cars are also crumbling.

Even Weilai, Xiaopeng and Ideal, which have already stood out, are still losing money even after multiple rounds of financing and listing.

But this still can't stop the desire of money for new outlets, and even when this round of boom is retreating, Xiaomi, Baidu, and Huawei are also investing in it to compete for a new round of car manufacturing.

The brand and mass production of new cars piled up by money are much higher than the sales growth rate of new energy vehicles of fuel vehicles, and the unprecedented penetration rate of new energy vehicles makes the new energy vehicle companies in it ecstatic, but this walking cash cow industry is extremely cruel and realistic, and those who try to "cheat a wave of enterprises" will not be able to go to the end after all, leaving a chicken feather in vain.

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