Today I still bring you a collection of highlights of the car market god of the week!
1. Following the fraud of Hino Motors, Daihatsu Motors, another subsidiary of Toyota, was exposed to fraud, and there were 174 cases of fraud.
The sofa god complained: This fake news is so familiar that I thought it was frying cold rice, but if I look closely, it is actually real news.
The bench god complained: I thought of a washing idea: the quality of the product can be so good if it is fake, if I don't fake, the quality of my product will be even more against the sky.
The floor god complained: Listen to me, wash it like this: Japanese car airbags, steel strength These are small problems, do not affect daily life, you buy a car and not for the crash;
The cellar god complained: You don't see BYD burning the car, Tesla has a lawsuit with the owner, BMW didn't give ice cream to the audience, Mercedes-Benz owners sitting on the roof of the car chattering can all be hung on the hot search for a week, and Toyota's crash test fraud has not even made a splash.
On December 20, 2023 local time, in Tokyo, Japan, Daihatsu Motor President Soichiro Okuhira (left) and Toyota Motor Corporation Vice President Hiroki Nakajima apologized for the safety test fraud.
God spit source:
On December 20, local time, Daihatsu Motor Co., Ltd. (hereinafter referred to as "Daihatsu Motor"), a wholly-owned subsidiary of Toyota Motor Corporation of Japan, released a third-party investigation report of up to 162 pages. In addition to the falsification of door trims in April and the falsification of the pole side crash test in May, 174 cases of falsification were found in 25 new test items, and the number of models confirmed to be fraudulent was 64 models and 3 engines, including those that had been discontinued.
Japanese media reported that after an investigation by a third-party committee, most of the models currently produced by Daihatsu Automobile have the same problems. The company will completely halt shipments of all models. Regarding Daihatsu Kogyo's quality violations, the Ministry of Land, Infrastructure, Transport and Tourism of Japan on the 21st conducted an inspection of the company's headquarters in Ikeda City, Osaka Prefecture, in accordance with the Road Transport Vehicle Act.
Daihatsu Motor is a sub-brand of Toyota Motor Co., Ltd., which focuses on the compact car market. Daihatsu Motor's global sales in FY2022 exceeded 1.7 million units, accounting for more than 10% of the entire Toyota Group.
This is another Toyota subsidiary that has been exposed to a fraud scandal since Hino Motors admitted to falsifying emissions data last year. According to the report, the counterfeiting involved 64 models and three engines (the total number of models currently in production, development or discontinuation), including 22 Toyota models and one engine. Among them, Toyota has 8 models on sale in Japan and 7 models on sale in overseas markets.
Toyota Motor said that in order to prevent such a thing from happening again, it is necessary to carry out a fundamental reform of Daihatsu Motor, which requires not only a review of management and business operations, but also a review of the organization and structure, as well as changes in human resource development and employee awareness.
It should be noted that this incident is not only affected by Toyota, because Daihatsu also provides OEM and parts production services for other car companies, the suspension of Daihatsu Automobile shipments may cause the production of many brands of cars to be blocked, and the affected brands are Mazda, Subaru and other Japanese car companies.
2. Hyundai Motor will sell its plant in Russia.
The sofa god complained: Don't ask, ask is our third largest sales in the world, rich and rich, and I don't care about these two jujubes.
God spit source:
On December 19, local time, South Korean car company Hyundai Motor announced on its official website that Hyundai Motor held a board meeting and approved the proposal to sell the shares of Hyundai Motor Manufacturing Russia (HMMR) in St. Petersburg, Russia. Hyundai Motor said it was negotiating with local Russian company Art-Finance on specific contract terms for the sale of its stake in the plant. This means that once this deal is concluded, Hyundai will officially withdraw from the Russian market. It is reported that due to the sudden Russia-Ukraine conflict at the end of February last year, Hyundai Motor's plant has suspended production since March.
3. NIO introduces Middle Eastern capital.
The sofa god complained: Brothers! It's time to eat again! Brothers!
The bench god complained: In this year, the new forces are building cars, and if you don't have a Middle Eastern investor, you will be embarrassed to say hello when you go out.
The floor god complained: You think people are pick-up heroes, but in fact, people may be traders.
God spit source:
On December 18, NIO announced that it had entered into a share subscription agreement with CYVN Holdings, an investment institution from Abu Dhabi, United Arab Emirates, through its affiliate CYVN.
Under the terms of the agreement, CYVN will invest a total cash of US$2.2 billion to subscribe for 294 million newly issued Class A common shares of the Company at a purchase price of US$7.50 per share. Upon completion of the transaction, CYVN will beneficially hold approximately 20.1% of the total issued and outstanding shares of NIO, becoming the largest shareholder of NIO, and Li Bin, chairman of NIO, will still have 39% of the super voting rights of NIO, making it the largest shareholder of NIO.
Fourth, false propaganda shooting, bubble bursting, huge losses...... The founder of Nikola, a new American car-making force, was sentenced to four years.
The sofa god complained: Previously, a federal jury in Manhattan, New York, ruled that he was sentenced to two wire frauds and one securities fraud, which can be sentenced to up to 20 years, and now it is only 4 years, and he can continue to appeal and continue to release on bail.
The bench god complained: In this way, the new domestic car-making forces are still too embarrassed.
Floor God Spit Out: Note: Prior to the criminal case, Nikola had agreed to pay a $125 million fine to the SEC to settle allegations that it misled investors about its products, technological advancements and business prospects. So, do you want to make money? Go to the United States and build cars.
God spit source:
According to comprehensive foreign media reports, Trevor Milton, founder of Nikola, a new American car-making force, was sentenced to four years in prison, which is far less than the 11-year sentence required by prosecutors when they sentenced Milton in the U.S. District Court in Manhattan. Previously, Trevor Milton was accused of spreading lies about the new car-making force for personal gain during his tenure as CEO of Nikola, resulting in huge losses to investors.
In 2016, Nikola held a press conference to launch its first hydrogen truck, the Nikola One. Trevor Milton described Nikola One's technology as "sky-high", saying that this hydrogen energy truck only takes 15 minutes to charge a single charge, runs more than 1,000 miles on a single charge, and has zero emissions, no pollution, and has been ahead of other car companies in the field of technology for 10-15 years, Trevor Milton even boasted that Nikola will surpass Daimler, Volvo and other mainstream truck companies in 1 to 2 years.
On June 3, 2020, Nikola announced the completion of its merger with VectoIQ Acquisition Corp., a special purpose acquisition company, to become the world's "No. 1 hydrogen heavy-duty truck". Three days after its listing, Nikola's stock price doubled, reaching a maximum market value of $34 billion, surpassing that of Ford, a century-old car company.
On September 8, 2020, General Motors announced a strategic partnership with Nikola to acquire $2 billion of newly issued common stock of Nikola for an equivalent non-cash asset investment, and GM will own 11% of Nikola and may nominate a member of the board of directors.
On September 9, 2020, short-seller Hindenburg Research issued a scathing report against Nikola and its founders. The report states that Nikola has never developed hydrogen fuel technology and cashed out by falsifying large numbers of orders. The report also pointed out that the Nikola One shown to the public was not a truck at all, as the car did not have power on its own. It is reported that in the official promotional video, the reason why the Nikola One looks like it can be driven is that it is placed on a hillside and sliding down by gravity. Nikola made it look like the car model was driving at high speed by adjusting the shooting angle and editing acceleration during video shooting. Eventually, Nikola pleaded guilty to the allegations, and Trevor Milton resigned on September 20, 2020.
As of now, Nikola's share price is only $0.820 left, and the total market capitalization is only $949 million. According to the latest financial report, in the first three quarters of 2023, Nikola achieved revenue of $24.31 million, compared with $44.26 million in the same period last year, and a net loss of $813 million, compared with $562 million in the same period last year. Nikola's revenue in the third quarter was -$1.73 million, compared to $24.24 million in the year-ago quarter, and its net loss was $426 million, compared to $236 million in the year-ago quarter. The financial report also showed that as of September 30, 2023, Nikola's cash and equivalents increased to $362.8 million, mainly through the sale of new shares.
5. Dongfeng announced on the 2nd that three senior executives were under investigation, involving Tong Dongcheng, the former deputy general manager of Dongfeng Company, who had left the post for 6 years.
The sofa god complained: Two days to arrest, buy two get one free, anti-corruption should be a heavy blow, do a good job.
God spit source:
On December 22, according to the Central Commission for Discipline Inspection and the State Supervision Commission in the State-owned Assets Supervision and Administration Commission of the State Council, and the Hubei Provincial Commission for Discipline Inspection and Supervision, Tong Dongcheng, former member of the Standing Committee of the Party Committee and deputy general manager of Dongfeng Company, is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation by the Central Commission for Discipline Inspection and the State Supervision Commission in the State-owned Assets Supervision and Administration Commission of the State Council and the Hubei Provincial Supervision Commission.
On December 21, the official WeChat public account of Dongfeng Motor Group's Commission for Discipline Inspection "Honest Dongfeng" issued the latest notice: Gao Xianli, the former senior manager of the marketing center of Dongfeng Automobile Co., Ltd., is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation by the Discipline Inspection Commission of Dongfeng Automobile Co., Ltd. and the Jiayu County Supervisory Committee of Xianning City, Hubei Province. Rao Jie, the former head of the New Business Strategy Promotion Office of the Product Planning Department of DPCA Automobile Co., Ltd., is suspected of serious violations of discipline and law, and has voluntarily surrendered, and is currently undergoing disciplinary review and supervision investigation by the Discipline Inspection Commission of DPCA and the Jiayu County Supervisory Committee of Xianning City, Hubei Province.
Sixth, Lei Jun is worried that Xiaomi's new car "sells too well".
The sofa god complained: The last time I heard this sentence was when Li Bin released the NIO ET5.
God spit source:
On December 17, Lei Jun, chairman of Xiaomi Group, said in an interview with the media that "Xiaomi still has many advantages in making cars". He also said that there must be expectations for the first model of Xiaomi Auto, "but the car is indeed very complicated, and I am particularly worried that everyone will not buy it if it is not popular." What's even more worrying is that if everyone comes to buy it, they will definitely be scolded miserably and all kinds of anxiety if they wait for a year or two. ”
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