AutoBeta(AutoBeta.net)06/30 Report--

Independent car company Baiteng car has been fermenting for many days of factory shutdown, employees to protect their rights to claim wages, financial emergency, and finally have an explanation today. On June 30, the internal email of Baiteng Motor informed all the employees in China that the company had stopped work and production from July 1, and all employees were waiting for duty, and the company would no longer arrange work.

Biden said, "2020 is a difficult year, due to the global COVID-19 epidemic and other factors, the company's financing and production operations have encountered major challenges." After months of trial and effort, we still have to announce with regret that all companies in China (excluding Hong Kong) will stop production from July 1, 2020. "

Baiteng expects the shutdown to last for six months, with follow-up arrangements depending on the situation. During this period, all the staff of all companies in China are waiting for work, and the company will no longer arrange jobs, and some necessary jobs will be notified separately.

Baiteng also gave a plan to solve the problem of unpaid wages. Baiteng said that for employees waiting for work, the company will pay the "March" arrears before July 10, and the remaining arrears will also actively create conditions for payment by installments. For employees who choose to resign voluntarily, the company will try its best to raise funds to settle all arrears of wages at one time.

While waiting for the post, Baiteng said that the wages of the employees waiting for the post will be paid normally in accordance with the labor contract in July, the living allowance will be paid from August, and the social security and provident fund will still be paid in accordance with the law.

Baiteng Motor, which has been established for less than three years, has won a total of about 8.4 billion yuan in four rounds of financing, and it is also a new power car-building enterprise favored by the outside world. Today, Baiteng has run out of funds and has yet to achieve mass production, to the point of shutdown, financing difficulties lead to the company's operating crisis, but also confirms the current embarrassing situation of the Internet car industry, the loss of external financial support will face the risk of bankruptcy.

Baiteng obtained the production qualification through the acquisition of Tianjin FAW Huali, with a total amount of 854.62 million yuan. But in June this year, FAW Xiali issued a notice saying that 470 million yuan owed by Biden must be paid by October 31 after negotiation.

The Baiteng Nanjing plant was completed in September last year, and the construction and installation of major equipment in the five major process workshops of stamping, welding, painting, final assembly and battery have been completed and have entered the commissioning stage. Baiteng expects the first model, the M-Byte, to go into production in mid-2020. With the shutdown of Baiteng, the production plan is a long way off.

The new force of car building has hovered on the brink of life and death. CCTV financial commentator said, "the once spectacular new power of car building has now entered such an awkward situation, which really makes everyone feel sorry." What the capital is really optimistic about is the new power of building cars, not the new power of making dreams. What's more, it is a wake-up call for these projects that are essentially cheating under the cloak of innovation. "

The epidemic has accelerated the reshuffle of new power car manufacturing enterprises, only a few survived, and most of them are destined to be eliminated. Statistics show that there were as many as 50 new car companies in China, but now only eight have sales data. It can be expected that most of the new car manufacturers may become history before mass production has been achieved.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat