In the domestic new energy vehicle market, stories of burning billions or even tens of billions of cars without making mass production cars abound. Sailin, Byton, Qianye, Bo County, Ranger, etc., seem to have withdrawn from the stage of history before they have been remembered by the public.
They have left the market in various ways, which is not unusual, but as a new force that has taken the lead in entering the car-making industry, the defeat of Lvchi Automobile seems to reflect the difficulty of making cars.
Not a car was sold
Another new car-making force collapsed
Recently, an administrative penalty decision from the Shanghai Qingpu District Market Supervision and Administration Bureau was exposed, and from the content of the exposure: Luchi Automobile, a new power brand of car manufacturing, was revoked its business license. The reasons for the penalty are: if the company does not open for more than six months without a legitimate reason after its establishment, or if it ceases to operate for more than six consecutive months after opening, the company registration authority will revoke the business license.
In addition, the penalty document also shows that the creditor's rights and debts of the parties shall be settled by the shareholders of the limited liability company, the directors of the joint-stock limited company or the personnel determined by the shareholders' general meeting in accordance with the law, and the parties shall go through the cancellation registration in a timely manner.
In fact, the news about Luchi Automobile is not surprising, and the fall of this new power brand has already begun.
According to public information, LVCHI Automobile was founded in 2016 by Wang Xiangyin, who was the deputy general manager of Foton Automobile Group and president of Huatai Automobile Group, with a registered capital of 1.2 billion yuan, and the initial investors are Zhongneng East, Zhongneng Capital and Zhongneng East (Beijing) Investment Management Co., Ltd., and its business scope includes technology development, technology transfer, construction and operation of new energy vehicle charging and replacement facilities in the field of automotive technology, import and export of goods and technology, and sales of automobiles.
In December 2016, LVCHI Automobile publicly released the LVCHI Automobile brand and project. On January 8, 2018, LVCHI Auto released the pure electric supercar "Uranus" and the first mass-produced SUV model in Shanghai, and announced that it will fully enter the high-end new energy vehicle market through the three major platforms of city car platform, mainstream platform and super platform.
In June 2018, LVCHI Automobile began to build its own production base in Jiujiang, Jiangxi, with an overall scale of 1,060 mu, a total construction area of 300,000 square meters, a planned production capacity of 200,000 vehicles per year, and a standard of 100,000 vehicles per year after the completion of the first phase, with a total investment of 5.5 billion. LVCHI Automobile said that in the future, it will also set up a domestic marketing center and a vehicle logistics center in Jiujiang to promote the development of innovative formats such as monopoly, sharing and customization of products and services.
In terms of joint manufacturing, in May 2019, LVCHI Automobile and Changan Automobile signed a strategic cooperation agreement, and the two sides reached an agreement on the joint manufacturing of LVCHI Automobile and Changan Suzuki, that is, the former Changan Suzuki Second Plant was used for the manufacture of LVCHI's first pure electric SUV. According to the official plan, the new car will be launched in the second half of 2020, with a range of 420 kilometers and equipped with L2.5 level autonomous driving technology.
LVCHI Automobile has said that after the first round, Series B and C rounds of financing totaling about 10 billion yuan, it will be listed in 2021-2022. However, contrary to expectations, in 2020, LVCHI Automobile was exposed to the company's basic "paralysis" due to problems such as the capital chain, the salaries of employees were owed, and the first mass production car previously promised was also delayed.
In March 2020, Henan SDIC Enterprise Management Co., Ltd. invested 2.01986 billion yuan to subscribe 60% of the equity, which seems to have ushered in an opportunity for Luchi Automobile to continue its life, but after the state-owned assets entered the ownership, Lvchi Automobile did not have much voice and action, and the news released to the outside world was still wage arrears and the company was paralyzed.
In April 2021, the Shanghai Qingpu District People's Court issued an announcement announcing that LVCHI Automobile had entered bankruptcy liquidation procedures.
It is not difficult to see that as an early member of the new energy vehicle market, LVCHI Automobile has not been easy along the way. After years of car manufacturing, the product has been in the trial car stage, and the new car has not been listed. The revocation of the business license means that LUCHI Automobile officially withdrew from the automobile market.
The new forces' last-place knockout round continues
Who will be next?
Under the influence of unfavorable factors such as rising raw material prices and repeated epidemics, the new energy vehicle market in the first quarter of this year still maintained a high-speed growth trend, the penetration rate accelerated, and the pace of replacing traditional fuel vehicles continued to accelerate. However, looking at the market, just in terms of sales, the leading edge of the first echelon of "Wei Xiaoli" and the second echelon head brand is becoming more and more obvious. The monthly sales of brands such as Aiways and Yundu have been less than a thousand, and they have long faded out of the second camp. It can be seen that the polarization of the new car-making forces is still obvious.
Some time ago, Yundu Automobile was exposed to stop production, the reason is that the capital chain is broken. Subsequently, the relevant person in Yundu Automobile responded to the media, "We stopped production mainly because of the battery problem, and now the new supply has been determined, and it is expected to resume production in two months." ”
In fact, whether it is because of the battery problem or the broken capital chain, the answer is no longer important, and today's Yundu automobile has long been struggling.
According to public information, in 2021, Yundu Automobile's operating income was 67.7632 million yuan, with a loss of about 213 million yuan; in the first quarter of 2022 (unaudited), the operating income was 6.6025 million yuan, with a loss of 55.7136 million yuan. As of March 31 this year (unaudited), The total assets of Yundu Automobile were about 1.652 billion yuan, the total liabilities were as high as 1.682 billion yuan, and the net assets were -30.7964 million yuan.
On April 26, according to the Daily Economic News, JuneYao Group signed a relevant agreement with Yundu Automobile before April 20, and will officially take over Yundu Automobile and become the actual controlling shareholder of Yundu Automobile.
Judging from the current situation of Yundu Automobile, with the participation of JuneYao Group, it can undoubtedly solve the problem of funds, after all, car manufacturing is originally an extremely expensive thing. For JuneYao Group, entering the automotive industry through acquisitions has also saved a lot of trouble, but for this "layman", in addition to bringing funds, the horse-drawn car market really can't think of anything it can give to Yundu Automobile.
Looking at AIWAYS Automobile, whether in terms of sales or from the perspective of momentum, the new car-making force founded by Fu Qiang in 2017 has some high driving and low walking meaning.
According to the data of the Association of Passenger Vehicles, in the whole year of 2021, the cumulative sales of Aiways automobiles were 3011 units, an increase of 15.8% year-on-year, which means that in 2020, the company's sales volume will only be 2600 vehicles. It can be seen that the annual sales of AIWAYS Automobile are not as good as the sales of most car companies in the new car manufacturing forces in one month.
In March this year, the sales of Weilai, Xiaopeng and Ideal were 9985 units, 15414 units and 11034 units respectively, and the monthly sales of Nezha and Zero Run also exceeded 10,000.
In fact, from the release of the AIWAYS U5 in 2019 to the present, in the nearly 3 years, AIWAYS has only this one car on sale, and this car has not become a hit like the ideal ONE. Therefore, the next AIWAYS U6 has become the hope of AIWAYS. However, whether it can save Aichi from water and fire still needs time to be verified.
Ma Yue:
With the sudden fall of the Green Chi car, it makes people think, who will be next? Is it Cloud or Aichi? From the current point of view, it is still too early to draw conclusions, but it is foreseeable that LUCHI Automobile will not be the last, and the last elimination competition in the new car-making market is still continuing