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At the beginning of October this year, an e-mail circulated online asking for internal risk investigation on the upstream and downstream industrial chains of four car companies. In order to confirm the situation of the car factory, CCTV reporters visited and reported one by one. In the face of the cold winter of the car market, domestic independent car companies are seriously divided, and now Huatai Automobile exists in name only.

According to a reporter's report, Huatai Automobile's three major bases have all stopped production, and the factory at Rongcheng production Base in Shandong Province is empty, the door is closed, only two patrolling personnel are guarding it, and dozens of new cars are parked in the factory, which cannot meet the delivery standards because batteries are not installed. In addition, it can be seen that the gate of the factory has been sealed on August 29, 2019.

According to the reporter's understanding, the Huatai automobile factory workers went in and out of the factory a month or two ago, but now all of them are gone. The wages owed to employees countless times before due to financial problems have also been settled. As there are no cars to sell, Huatai dealers also have no cars to sell, and have now been replaced by other brands.

Data show that Huatai Automobile was founded on December 18, 2000, is a new energy vehicles, traditional cars and auto parts as the main business of the independent brand car company. Not only is China's "SUV model founder", but Huatai Automobile has regarded new energy as the group's strategic business as early as 2009, which can be said to be the earliest car company to develop new energy vehicles.

With the increase in sales, Huatai Motor, which tastes the benefits, does not continue to focus on technical research, but can only rely on imitation, so Huatai Motor has been burdened with the title of "shanzhai" for a long time.

Sales and performance have also begun to decline sharply, with monthly sales of more than 3000 vehicles in the first six months of this year, until a cliff decline of just 32 in July and August. In fact, since 2011, the China Automobile Association has refused to adopt its sales data and replace it with "0" because of Huatai's long-term misrepresentation of sales figures. Sales are also a mystery in the industry.

The recent frequent revelations have also proved that Huatai Automobile has experienced serious financial difficulties. The survey results show that Huatai Motor, which has been established for nearly 20 years, now has only 130000 yuan in bank deposits on its books. As of March this year, Huatai Automobile's total interest-bearing debt reached 29.423 billion yuan, of which the short-term shares of more than 68.02% of its subsidiaries were pledged or frozen, and its restricted assets reached 16.262 billion yuan, accounting for 95.02% of net assets.

Previously, the "bankruptcy rumors" Huatai Motor also made an official statement to refute the rumors, but some industry insiders indicated that Huatai Motor has fully met the bankruptcy conditions.

With the downward trend of the overall car market this year, it is not only a year of collapse of the new power of Internet car-building, but also a reshuffle year for traditional car companies to survive the fittest. Previously reported by CCTV, Zhongtai, Lifan two bus companies due to financial difficulties, will face the plight of reshuffle, but now it seems that Huatai automobile situation is more serious, or will become the first shuffle.

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