On the evening of June 28, according to CCTV finance and economics report, byton automobile was in arrears with employees salaries for four months. In addition, the rent of beitengs Shanghai office was removed in April, and Beijings office was removed on June 17. Recently, the Nanjing factory was shut down due to the lack of water and electricity.
Prior to that, according to people familiar with the matter, Dai Lei, CEO of byton automobile, said at an employee meeting held on June 1 that he currently owed about 90 million yuan (three months wages) of his employees.
There is still FAW Xiali in bytons debt list. According to Tianyan data, Nanjing Zhixing New Energy Vehicle Technology Development Co., Ltd. (hereinafter referred to as Nanjing Zhixing) was established in June 2017, with a registered capital of about 5.646 billion yuan.
On June 2, 2020, FAW Xiali announced that it had reached a new supplementary agreement with Nanjing Zhixing. Nanjing Zhixing needs to pay 235 million yuan before June 30 of this year and the remaining 235 million yuan before October 31 of this year.
In May 2019, byton announced that it would complete round C financing in the middle of the year, and has been supported by a number of powerful institutions. Subsequently, it was reported that byton financing will introduce about $500 million at the end of June. In January this year, the relevant person in charge of byton said that the round of financing has entered the final stage, but so far it has not been in place.
Bi Fukang, known as the father of BMW I8, was also the co-founder of Byron, so the market had high expectations for Byron. Or because of financial difficulties, bytons first model, m-byte, which was originally scheduled to be put into mass production by the end of 2019, has been delayed until April this year before the mass production trial production vehicle is launched. At present, the official mass production of m-byte has not yet spread.
It is worth noting that the name of FAW Huali has been changed to Nanjing Zhixing in the announcement on road motor vehicle manufacturers and products (batch 333) issued by the Ministry of industry and information technology on May 22, 2020. This means that byton has been officially qualified for production.
Will this be Byrons last straw? Or is it the c-round financing which is about to be ready in the rumor?
On July 20, 2019, Jiangsu sailin Automobile Technology Co., Ltd. (hereinafter referred to as Jiangsu sailin), which held a press conference in the birds nest with a large sum of money, exploded all the way after being reported by the former legal department.
According to Tianyan survey, Jiangsu sailin was jointly invested and established by American sailin International Automobile Co., Ltd. and a number of domestic enterprises and institutions, with a registered capital of 10 billion yuan, and its registered place is Rugao City, Jiangsu Province. Nantong Jiahe, the major shareholder of Jiangsu sailin, contributed 334187 million yuan in the form of currency subscription, holding 33.42% of the shares. Nantong Jiahe is a wholly-owned subsidiary of Jiangsu GaoKai Investment Development Group Co., Ltd., which is a wholly state-owned enterprise.
On April 27, 2020, a microblog user who claimed to be Qiao Yudong, a former legal officer of Jiangsu sailin, reported Wang Xiaolin to be suspected of false technology investment and embezzlement of a huge amount of state-owned assets of 6.6 billion yuan. Qiao Yudong once provided more than 40 documents to China New Zealand Jingwei reporters to support the contents of the report.
According to a number of media reports, Nantong local authorities intervened in the investigation after the letter was issued. On June 23, Jiangsu sailin Shanghai Co., Ltd. received the seal up notice from Nantong intermediate peoples court. Prior to this, Jiangsu sailin Rugao factory was also closed.
In recent days, Wang Xiaolin and Qiao Yudong have their own opinions in media interviews. Wang Xiaolin, who said that he could not buy tickets, had been in the United States for a long time, but had not returned to China to face the crisis of sailin.
At the above-mentioned birds nest conference, Jiangsu sailin only released two new models of mini car Maimai and super run SUV Maike. Among them, only the mini car Maimai opened the pre-sale.
The flagship store of sailin Maimai auto tmall has been cancelled and closed a few days ago. The total sales volume of this car is only 9.
On June 24, phoenix.com, citing people familiar with the matter, reported that Huang Ximing, founder of Bojun automobile, had arrived in the United States and said he would not return to China.
Established in 2016, Bojun automobile, formerly known as American Advanced Vehicle Technology Co., Ltd. (AVT) and Shanghai Sizhi Automobile Engineering Technology Co., Ltd., is engaged in chassis design and vehicle performance development services.
According to the agreement, within 30 days after obtaining the business license, Bojun automobile will complete the down payment of 1 billion yuan, and the rest will be paid within 6 months.
Bojun automobiles capital crisis broke out, and then the companys business stopped, and employees compensation and rights protection incidents occurred frequently.
In addition to changes in the market environment, Huang Ximing attributed the companys capital difficulties to missed a lot of financing opportunities, causing irreparable losses to the companys cash flow management.
The iv6 and iv7, which are close to mass production in huangximingkou, were originally planned to be produced by Tianjin Bojun. According to media reports, the factory of xiazhongduo has not been put into operation since its establishment.
04. Godfather Jia Yuetings back wave
The unicorn enterprises that are optimistic in the industry have won a lot of chicken feathers, and new auto companies such as Byron, sailin and Bojun are performing similar scripts. This also reflects the current survival situation of the new forces.
Netizens also launched a hot discussion on this.
@A long time ago, experts in the automobile industry said that this is a series of assembly line production projects. It does not mean that whoever has money can squeeze in. Without upstream and downstream industrial chain, it is just a water drift to throw in tens of billions of money.
The new forces have been up and down in the Chinese market for five years. Jia Yueting is regarded as one of the representatives who formally moved the dream of new forces to the center of the stage.
From the end of 2015, LETV announced the see plan to the debut of the first product ffzero1 concept car in January 2016, the industry has cheered for it. As a result, nearly 50 players rush in.
In the end of 2016, the capital problem of LETV group broke out. Up to the time of bankruptcy, cars were the most laggard business sector in the eyes of the outside world.
Zhong Shi, an analyst in the automobile industry, believes that the so-called new force is only a concept, which is different from traditional automobile enterprises. One is that they prefer pure electric field, and the other is that the technology of intelligent network connection is more widely used. In essence, car making is car making, and the production line is the same.
And the whole industry chain of capital investment, to this day, still let new forces of car companies have fallen on the road of financing.
Li Bin, CEO of Weilai Automobile Co., Ltd., once gave a threshold of 20 billion yuan. As one of the leading new forces in China, Weilai, which was established in 2014, has yet to realize the normalization of gross profit rate.
According to the monthly data of the Travel Association, in May this year, only eight new forces, including Weilai, ideality, Weima, Xiaopeng, Hezhong, Xinte, guozhijun and Lingtu, sold new cars. Many industry insiders predict that only a few of the new force auto enterprises can survive in the future. The epidemic will accelerate the shuffle process.