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According to media reports, Luchi has been sold to Henan State Investment Enterprise Management Co., Ltd. (hereinafter referred to as "Henan State Investment"), and the equity exchange has been completed this month. According to Tianyan information, Luchi Automotive Technology (Shanghai) Co., Ltd. has changed its name to Luchi Automotive Technology Group Co., Ltd. prior to this, Shenzhen Kyushu Huilian Investment Management Co., Ltd. is the only stock of Luchi Automobile, with a registered capital of 1.35 billion yuan and a 100% controlling stake. On March 6, the equity of Luchi Motor changed, and the investors added Henan State Investment, with an investment capital of 2.02 billion yuan and a 60% stake in Luchi Automobile. Henan State invested in the company and became the first shareholder of Green Chi Automobile, becoming the first car-building new power enterprise controlled by state-owned assets in China.

According to enterprise investigation information, Henan State Investment Corporation was established on December 6, 2017. Through equity analysis, we can see that Henan State Investment Fund belongs to the department of state-owned enterprises in Henan Province, including the capital of Pingdingshan Development and Reform Commission. For Greenchi, the entry of state-owned enterprises is not bad news in terms of capital, but the price is the surrender of controlling shares in the face of enterprise transformation.

Luchi Automotive Technology Group Co., Ltd. was established in August 2016 with a registered capital of 1.35 billion yuan. Its business scope includes import and export of goods and technology, sales of automobiles, auto and motorcycle accessories, electronic products, construction and operation of recharging facilities for new energy vehicles, etc.

As a member of the new power of building cars. Green car does not have a strong sense of existence, and the road of its development since its inception is also very bumpy. In July 2017, Luchi reached an intention to set up a green car Italian company with the parent company of I.DE.An in Italy, and then I.DE.A revealed to the media that the green car was in arrears with the project payment. Ren Yahui, vice president of Green Chi, responded that the Italian company was only a small layout of the green car, but the two companies broke up in discord because the company found that I.DE.A did not have the ability required by the green car.

It is understood that the project invests 5.5 billion yuan to build an annual production base of 200000 new energy electric vehicles, mainly producing mainstream and highly intelligent SUV and A00 class electric vehicles. The scale of annual production of 100000 vehicles can be formed after the completion of the first phase, and the annual production of 200000 vehicles can be achieved after the completion of the second phase.

However, no real progress has been made in the green car project in Jiujiang. In order to solve the problem of mass production and delivery, Luchi and Changan signed a cooperation agreement in May 2019. the two sides reached an agreement on the joint manufacturing of Changan Suzuki, the original Changan Suzuki second plant for the production and manufacture of Luchi's first pure electric SUV.

All this seems to be going well, but in fact there are a lot of problems in the whole process.

As a member of the new car-building force, Green Chi has also fallen into a storm of unpaid wages. Green Chi owed no wages to its employees, and some employees were kicked out of the work group by its boss.

Green Chi signed an agreement with Changan Automobile after no actual progress was made in the Jiujiang project, but there has been no following on the cooperative project so far. In addition, nearly 5 million of Luchi's assets were seized and frozen in March this year.

2019 is known as the year of life and death of the new forces of car building. Arrears of wages, elimination, losses and delayed delivery have all become the proper terms of the new forces of car building. As a member of the new force of car building, it has always been a huge problem for Green Chi to achieve mass production and delivery. It is understood that the first model on the market is the M500, which will be launched in the second half of this year. However, under the current situation, there has been no great progress in the news of the launch of this car.

Some people in the industry said that the financing, production, research and development and delivery of new cars are later than other competitors, coupled with the decline of new energy subsidies, it is very difficult for Green cars to make a big breakthrough in the current market environment. Although the entry of state-owned enterprises will promote the future development to a certain extent, the surrender of controlling shares has made the company lose the most basic ability and can be said to be the first to be "out" in the new power camp of car building.

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