There is no doubt that Xu Jiayin's car building should have failed, after all, he is already in prison, and at the same time, Evergrande Automobile has no money, and no one will, no one dares to invest money in. If there is no money, Evergrande Automobile will definitely not be able to continue to build cars.
In fact, Evergrande Automobile has spent a lot of money, according to the previous performance data, as of the end of last year, Evergrande Automobile has accumulated losses of 110.841 billion yuan, and is currently insolvent, with total assets of 34.851 billion yuan and total liabilities of 72.543 billion yuan.
More than 110 billion yuan was invested, and only 1,389 cars were delivered in the end, so the actual loss of each car was 79.8 million yuan. It's not a story, it's real, do you think it's absurd?
In fact, in my opinion, there is only one key reason, that is, Xu Jiayin thinks that he is building a house, and he does not respect science and technology, or is it the real estate philosophy of how bold the people are and how productive the land is.
In the early days, I wanted to borrow chickens and lay eggs, and saw that Jia Yueting had technology, but no money, so I invested 800 million US dollars and wanted to cooperate with Jia Yueting, according to media reports, Xu Jiayin once wanted the dominance of FF Faraday and turned it into Evergrande Automobile, but Jia Yueting was not a fuel-efficient lamp, so the two sides fell out.
Later, Xu Jiayin simply built it himself, but he didn't have the technology, so he wanted to buy it, and spent more than 40 billion yuan for more than a year to buy various assets, involving upstream and downstream, car manufacturing, and so on.
He even summed up the 12-word mantra of "buy, buy, buy, merge, big, good", and felt that building a car was not like this, buying assets, and then integrating them, just like repairing a house, buying land, looking for a designer to design, and then looking for an engineering team to repair the house, and then selling, which is not difficult, and it is easy to do with money.
Therefore, we see that within Evergrande Automobile, the management is basically Evergrande Real Estate, and building a car is like building a house, pursuing speed, pursuing scale, paying attention to the situation, and there is no core technology and other concepts.
Even in terms of management philosophy, as long as the upper and middle levels are there, and the project manager is there, the automotive industry can recruit a team of people at will, and integrate technology, you can quickly build a car like building a high-rise building.
In the early days, 9 pure electric models were launched, just like the sand table of the house, no suspension, no chassis, it was a model, so it was taken out and displayed.
What's even funnier is that there is nothing, the car has not been produced, but a series of high-level testing institutes, laboratories, etc. have been established, burning money like running water, this is like a child, not yet weaned, but he has been equipped with a variety of modern facilities, such as luxury cars, mansions, computers, mobile phones, gyms, etc., no budget, no plan, where you want to be, everything is the top in the industry.
In the end, the car was not built, the money had been burned for tens of billions, and it was completely a layman who led an insider, who did not respect technology, and there was no core technology in his eyes, so he felt that he could have money.
So more than 110 billion was spent, and in the end it was such a result, it was really a good hand of cards to play poorly, in fact, as long as you find the right person, with Evergrande's handwriting, more than 100 billion funds, and so many resources, it is not difficult to build a good car.
You must know that Lei Jun built a car for 10 billion, and Weilai, Xiaopeng, and Ideal built a car, which is about between more than 10 billion and 20 billion.