AutoBeta(AutoBeta.net)11/06 Report--

On November 31, public information from the Beijing property Exchange showed that Shenzhen Boyong Zhi Motion, the fifth largest shareholder of Singularity Automobile, plans to transfer its 6.3753% stake to Shenzhen Boyong Zhi Zhi Future Investment Partner. transfer 6.3753% stake in Smart car Youhang Technology (Shanghai) Co., Ltd.

After the incident was exposed, Singularity was questioned that it was abandoned by investors because the company did not release a mass production car iS6 three years after its establishment. In response, Boyong Zhizhong issued a solemn statement saying that the asset transfer is an asset planning adjustment made by the company for its own reasons, not aimed at Singularity Automobile, and has nothing to do with the operating status of Singularity Automobile.

According to business investigation information, Shenzhen Boyong Zhidong, founded on May 10, 2017, is an investment-oriented company. The largest shareholder of the company is Beijing Guotai Yijia Technology Development liability Co., Ltd., with a shareholding ratio of 66.67%.

In April 2018, Singularity received a financing of 3 billion yuan from Shanghai Boyong. In August of the same year, Japan's Itochu Corporation paid 1 billion yen for a 1.12% stake in Singularity Motor. On October 12 this year, Singularity received another financing of nearly 100 million US dollars from Itochu Corporation of Japan. After the financing was completed, Itochu had a stake of about 7 per cent, making it the second largest shareholder after Shen Haiyin, founder of Singularity and CEO.

The first production model of Singularity was released in April 2017 and announced that it would be mass-produced and on the market by the end of 2018. 2019 is almost over, and iS6 mass production is still a long way off.

In this case, Boyong Zhizhi, the fifth largest shareholder of Singularity, is suspected to have withdrew from the ranks of Singularity shareholders because it is possible that iS6 has been in production indefinitely. After all, the car has not been mass-produced for two and a half years.

In response to the reason why iS6 has not yet achieved mass production, Singularity CEO Shen Haiyin has said that the model originally scheduled to launch in 2018 had to be delayed because of three changes in the partner and production base. In addition, the iS6 will be produced by BAIC's Changhe plant in Jingdezhen, Jiangxi Province, which is currently being renovated and the equipment is in place, and iS6 is expected to be in mass production by the end of the year.

During the absence of mass production, iS6 will expand its cooperation with Japanese automakers and parts suppliers in the development and production of smart electric vehicles, so as to improve the quality of its products, Singularity said.

However, under the influence of the current cold winter environment of the car market and the decline of subsidies for new energy vehicles, the new forces of car-building have entered the stage of shuffling and elimination, and the competition is extremely fierce, especially for the new forces of car-building, which are in urgent need of a lot of financial support. it will take years to achieve hematopoiesis.

Take NIO Motor as an example. Li Bin once threatened to "build a car from scratch, and 20 billion yuan is an admission ticket." the NIO Motor, which has been developed for many years, is still losing money and does not yet have the ability to make blood.

Singularity said that iS6 will be mass produced by the end of the year, but there is only one month left from 2020. We look forward to whether Singularity can fulfill its promise or not.

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