A mysterious force from the Middle East is redeeming Evergrande Automobile

Can Evergrande cars live?

Is Evergrande car going to live again?

I'm afraid no one will make this judgment.

Even on the evening of August 14, Evergrande Automobile issued an announcement that it had successfully obtained a strategic investment of about 500 million US dollars from Newton Group, headquartered in Dubai, United Arab Emirates, and all the war investment funds were used for Evergrande Automobile's Tianjin plant to ensure the normal production of Hengchi 5 and the mass production of Hengchi 6 and 7 (another 600 million yuan of transitional funds will be received from 5 working days after the announcement.) ）

This investment, which made Evergrande Auto overjoyed, the viewers still did not agree.

In the face of Evergrande Auto's astronomical loss, $500 million is a drop in the bucket.

But it is rare that someone is willing to spend money to "save" Evergrande.

This crossover car company that constantly refreshes our three views in the current car manufacturing industry has a story of constant sorting and chaos, and those who are willing to make friends with him must be a ruthless person.

The high-profile past has only become an expired news page, and how low-key the current Evergrande Auto is.

Around him are only the sales that cannot go up, the Tianjin factory that has stopped work again, and the mess behind Xu Jiayin.

The emergence of Newton Group is enough to arouse everyone's curiosity.

Who is he and where does he come from?

The suddenly parachuted Newton Group, the 500 million US dollars waved like a ganlin, temporarily alleviated the unbearable situation of Evergrande Automobile.

God knows how long this money can be spent.

Netizens quickly dispatched and found the source along the way.

The Newton Group, headquartered in Dubai, UAE, also has a name - Iconic.

The innovative electric vehicle brand, founded in 2014, unveiled its first MPV model at the 2017 Shanghai Auto Show and has not been detailed since.

In the relevant information on the network end, Iconic not only obtained the car manufacturing qualification in 2019, moved its global headquarters to the United Arab Emirates in 2022, and changed its name to Newton Group, but also officially listed on NASDAQ in November of the same year, becoming the only electric vehicle company listed in the United States in the United Arab Emirates.

Although a wave of operation, but for now, it seems. The new Newton Group has not achieved anything in building cars.

The repeated losses of the financial report are the same as Evergrande Automobile.

How do you feel at this point in the story?

The two desperate car companies suddenly became confidant brothers, as if they saw an oasis in the desert.

Hit it off.

Newton Group is bold enough to provoke Evergrande Auto.

Perhaps for Newton, Hengchi's devastation can only be understood by him; At one time, Ekonic was also teetering on the edge of success, empathizing with the difficulty of building a car.

But that's not the case.

In the face of the huge and abyssal debt crisis of Evergrande Automobile, didn't Newton Group hesitate?

After all, Evergrande is a thunder.

Since 2023, Evergrande Auto has been hovering in an infinite cycle of resumption of work, suspension of production, lack of money, and food cuts.

Xu Jiayin, who was once so glorious, could not protect himself.

Whether it is Evergrande itself or Evergrande Automobile, it is a topic that we are tired of talking about.

On the evening of July 17, Evergrande announced its full-year 2021, mid-term and 2022 full-year performance reports.

Some people laughed and said that Xu Jiayin finally cleared up the accounts of the past few years, but the figures must be surprising.

In 2021, China Evergrande lost 18.45 billion yuan, with a total net loss of 686.22 billion yuan; in 2022, the gross profit was 24.99 billion yuan, with a total net loss of 125.81 billion yuan; in two years, Evergrande lost 812 billion yuan.

There is also a figure that is even more terrifying, losing 50 years of profits in 2 years, leaving 2.4 trillion yuan in debt.

The excessively large number is shocking, but Xu Jiayin is so strong.

How fortunate it is that Evergrande can stand to this day.

The interesting thing about life is that unexpected surprises can always appear suddenly when you are running out of water.

The emergence of the Newton Group seems inconceivable to outsiders; But I believe that the company that can be in love with Xu Jiayin, he must be as strong and ruthless as Xu Jiayin.

There is almost no information about Wu Nan, the founder of Newton Group, only the head of the founder and chairman, who holds 77% of Newton's voting rights.

How did Wu and Xu meet?

Why did Wu save Xu?

Re-entering the automotive industry with a dying Evergrande seems a bit risky.

But the story is such a drama, between the beginning and turn, the current Evergrande car may indeed be rescued.

Is it just that Newton knows what kind of Evergrande car he will rescue?

Losses are commonplace, it's just a matter of how much to lose.

56.344 billion yuan in 2021 and 27.664 billion yuan in 2022, with a cumulative loss of 84.008 billion yuan in two years. As of December 31, 2022, the total debt was 183.872 billion yuan, and the net assets of Evergrande Auto were -68.65 billion yuan.

The sales data is only left in more than 1,000 vehicles in May this year, and there are quality problems complained about by online car owners.

Netizens jokingly said that "those consumers who buy Hengchi 5 are heroes".

Whether it is in terms of brand factors or product power itself, Hengchi is not the only choice.

Since the empire of Evergrande was already crumbling when the Hengchi 5 model was launched, buying the Hengchi 5 and becoming an owner is not a thing to praise.

Although on the net, many car critics have a good driving evaluation of the Hengchi 5; Some people even say things like "amazing product power" as if they are whitewashing Evergrande, but the data of more than 1,000 vehicles is the feedback of the market.

In the months since, the Hengchi 5 has almost no increment.

Not ridiculous, but helpless.

Xu Jiayin's loss of tens of billions is somewhat absurd, and Evergrande Auto failed to support its car dream as hoped, and

This remaining life-saving straw will also fall at any time, and the sales targets of the past are still in the ears, but some things are wrong.

These current predicaments related to Evergrande Auto are the premise of the story.

Boss Wu still entered the game decisively, somewhat with the courage of a "strong man breaking his wrist".

Or is he attracted by Boss Xu's personality?

On the stage of the automotive industry, Boss Xu has always been thriving.

"Buy, buy, buy", once created a lot of good stories.

The arrogant Boss Xu hit the market with speed and accuracy, and the first step of "buying, buying, buying" surpassed the layout that other car companies needed to improve several times their energy.

From the whole industrial chain layout of vehicle R&D and manufacturing, powertrain, power battery, smart charging to automobile sales, Xu Jiayin's arrogance has amazed the market.

It's nice to have money.

At the New Energy Global Strategy Conference in November 2019, Xu Jiayin was in full swing at that time.

He felt he had won, and building a car was such a simple integration.

Bosch, Magna, Continental, ZF and other 60 leading auto parts companies in the world have reached strategic cooperation with Evergrande Automobile.

The local tyrant style lined up and the stage design that deviates from the aesthetics of the automotive industry, Xu Jiayin's joy is his own.

That large-scale strategic conference is a thing of the past, but it is also the only public appearance of Xu Jiayin in the history of Evergrande's car manufacturing; Fortunately, he gave the best glory to Evergrande Auto in 2019, and this memory review can accompany a lifetime.

He should be trapped in his own dreams.

Who told him in his ear that it was possible to build a car?

Who told him that if he bought the world, the world was his?

And who let the Evergrande Group accelerate the collapse because of Evergrande Automobile?

Once the clever old fox falls into endless reverie, he can also extricate himself.

The dream Evergrande car is like this, "to achieve annual production and sales of more than 1 million vehicles in 2025, and annual production and sales of more than 5 million vehicles by 2035." ”

"Our requirements for products and core technologies are world-leading. I dare not say that 14 cars can explode, but I am confident in guaranteeing 8-10 car explosions. ”

Do you remember these numbers?

These sales figures, which were once blurted out on that incredibly confident face, are now ridiculous; The actual sales of more than 1,000 units rolled down the cliff with the huge joke that "annual production and sales will exceed 1 million units in 2025".

Go away, the dream is shattered, it's time to wake up ...

I remember driving past the Shanghai Songjiang Evergrande Automobile Research Institute, a modest building with the red words "Evergrande Automobile" standing out.

If it can, Xu Jiayin hopes that it can replace himself to achieve, "the grand goal of 5 million vehicles in production and sales in 2035!" ", but is it possible?

Perhaps from the beginning, it was all a dream.

Some people say that Wu Nan, who is far away in the UAE, saved Xu Jiayin and Evergrande Automobile, I don't think.

Soon on the Internet, some netizens wrote, "Newton Group's rescue of Evergrande Auto is actually a gamble, Newton exchanged his assets for a part of the equity of Evergrande Automobile, and also exchanged the right to speak..."

If this statement is true, then the story of Wu Xu and the two seems to have been told.

The $500 million capital injection must have cause and effect.

It is not impossible for Newton to return to the car track through Evergrande Automobile, and under the premise that Evergrande Auto is really short of money, Xu Jiayin decided to let go and let it go to the board, is this transaction worth it at the moment?

In business, in the face of interests, gambling is half the victory.

No matter how unbearable Evergrande Auto is, he does have some resources, such as battery technology and chassis integration technology that he bought with heavy money.

Xu Jiayin, who sold planes and villas to save the market, did not give up Evergrande Automobile.

In the few records so far, there is only the part about selling cars, which was sold for $58 million at the time to acquire Protean. (Protean manufactures in-wheel motors for electric vehicles, autonomous vehicles and commercial vans.)

But those drops in the bucket didn't have much effect.

Just guess that based on the past experience of Newton Group, Wu Nan is more suitable for the automotive industry than Xu Jiayin.

And Boss Xu can repay the debt with peace of mind.

After announcing the announcement of Newton Group's capital injection into Evergrande, Evergrande also made an announcement.

Evergrande Automobile announced that as part of the debt restructuring of China Evergrande Group and in order to reduce the debt level of Evergrande Automobile, it will convert related loans totaling more than HK$20.8 billion into new shares at a conversion price of HK$3.84 per share.

The relevant loan provided by Ding Yumei (Xu Jiayin's wife) and its subsidiaries will be converted into new shares but will not form part of the debt restructuring of China Evergrande Group.

These twisted financial instruments are a real headache.

But Xu Jiayin is serious in trying to maintain Evergrande Automobile.

Evergrande Auto said, "The Group has taken certain plans and measures to alleviate the liquidity pressure and improve its financial position. ”

Some people regard Evergrande's present as a drama, no one really cares about his life or death, they only know, "Things are playing big, and if you can't get it back, you deserve it..."

If you have been to the office building of Evergrande in Guangzhou, you will find that the surrounding area of the building is surrounded by police cordons and warning signs, because Evergrande can only surround itself for fear of someone coming to make trouble.

Countless warning signs surrounded the building of Evergrande, and the principle that outsiders were not allowed to enter was very similar to the current situation of Evergrande.

If Newton Group's capital injection is a new opportunity, then please be honest, just for those more than 1,000 owners who believe in Evergrande cars.

It is said that Hengchi 5 also decided to export to the Middle East market and establish a new channel chain; No matter what, the United Arab Emirates and the Middle East may be another bright spot for Evergrande Automobile.

Perhaps, in the distant market that still needs to be explored, Hengchi can be seen.

The unbearable memories of the past will also be covered up by Huang Shao and passed away with the wind.

Sister Xiaohua