Over 140 million yuan! Reading cars were executed one after another
"Automotive Industry Concern" understands from Tianyancha information that on October 7, Reading Automobile Group Co., Ltd. (hereinafter referred to as "Reading Auto") added 4 pieces of information on the enforceees, with an enforcement target of more than 28.92 million yuan, and the enforcement courts were all Changle County People's Court.
According to the data, Reading Automobile Group Co., Ltd. was established in October 2012 with a registered capital of 100 million yuan, and the legal representative is Wang Dejin, which is an enterprise mainly engaged in automobile manufacturing, wholly owned by Biedwin Holding Group Co., Ltd. Tianyancha risk information shows that Reading Automobile Group Co., Ltd. has more than 20 pieces of information on the enforceees, with a total amount of more than 140 million yuan. In addition, the company also has a number of consumption restriction orders, dishonest enforcers (Lao Lai) and final case information.
Founded in 2008, formerly known as Weifang Bidevon Electric Vehicle Co., Ltd., founder Li Guoxin started by relying on low-speed three-wheeled and four-wheel electric vehicles, which is what we often call "old man Le", and once achieved good sales performance in this market. In 2018, the state strengthened the clean-up and rectification of low-speed electric vehicles, and in this context, Reading Automobile achieved "shell replacement" and shifted from low-speed electric vehicle business to new energy vehicles.
At the beginning of 2019, Reading Automobile acquired 100% of the shares of Sichuan Mustang for 1.46 billion yuan, thereby obtaining production qualifications such as new energy vehicles, and then successively launched three small pure electric vehicles, including i3, i5 and i9, but unfortunately, due to lack of competitiveness and other reasons, the market response of the i series pure electric vehicles was not good, and it was completely stopped after only one year on the market, which also means that Reading Motor, which entered the new energy vehicle track with the i series model, failed for the first time.
In 2021, Reading Automobile once again looked for new exports, refocused its attention to the mini vehicle market, and successively launched the "Reading Mango Series" model. Compared with the i series pure electric vehicles, the "Reading Mango series" model has been recognized by a large number of consumers, and the new car even set a monthly sales record of 6,056 units after the launch, and the cumulative sales in 2021 were 30,400 units, but soon, the sales of Reading cars appeared "Waterloo", and the number of new cars in the following year was only 7,042 units, down 47.29% year-on-year, with a market share of 0.13%.
Since December 2021, Reading Automobile has appeared in the company's internal middle and high-level applications for active salary cuts to survive the crisis, suspected production stoppages, upstream and downstream are launching "debt collection" for Reading Automobile and delaying dealer payments and other negative news, among which, in response to the delay of dealer payments, at that time, Reading Automobile related people said: "Capital and production capacity are relatively tight, so the delivered cars can only ensure key markets and key areas, which has indeed affected some dealer partners." ”
Today, five years later, Reading Automobile, which has transformed from a low-speed electric vehicle to the new energy vehicle track, is still out. Since entering 2023, Reading cars have been almost chicken feathers. From the beginning of the year, self-disclosure of the broken capital chain, bankruptcy filing, founder Li Guoxin's overseas settlement, and now being exposed one after another as a dishonest executor and freezing equity and other negative news, Reading Automobile's current situation is already in danger.
Previously, the relevant person in charge of Reading Automobile said in an interview with the media that the company has filed for bankruptcy, and low-speed vehicles and new energy passenger vehicles have not been done. "Whether it is the company of Reading or the team of Reading, it is still very valuable. If there is capital interested in Reading, there is still hope for the company to be reborn. However, Cui Dongshu, secretary-general of the National Passenger Vehicle Market Information Association, pointed out that the bankruptcy of Reading Automobile has a lot to do with its incomplete transformation to new energy vehicles, coupled with its relatively weak technical capabilities and supply chain construction capabilities of new energy passenger vehicles, so the possibility of Reading Automobile being taken over in the future is not large.
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