AutoBeta(AutoBeta.net)10/11 Report--

According to media reports, Daniel Kirchert, co-founder and chief executive of Baiteng Motor, has left the electric car start-up, and co-founder Ding Qingfen is now the "de facto" head of the company.

According to data, Dai Lei previously served as general manager of Dongfeng Infiniti, general manager of Dongfeng Infiniti Automobile Co., Ltd., and senior vice president of brilliance BMW marketing.

If the news of Dai Lei's departure from Baiteng is true, it means that the two co-founders of Baiteng are out. In April 2019, Baiteng Motor confirmed the resignation of its chairman, Bi Fukang. At the Shanghai Auto Show in April 2019, Bi Fukang stood at the Iconic booth and announced his appointment as CEO of Iconic. After less than half a year as CEO, Bi Fukang moved to FF founded by Jia Yueting and announced that he would become the global CEO of FF.

Baiteng, founded in 2017, is a member of the new car-building force. its first production model, M-Byte, was unveiled in November last year. It is understood that the mass production version of Baiteng M-Byte offers two kinds of powertrain, namely single-motor rear-drive version and front and rear double-motor rear-drive version, with a maximum power of 272 horsepower and 408 horsepower, and a comprehensive range of 430km and 550km.

Baiteng was once regarded by the outside world as one of the most promising car brands. In the three years since its establishment, the total amount of Baiteng auto financing has exceeded 1.2 billion US dollars, with investors including FAW, Foxconn, Ningde Times and so on. In addition, Baiteng Motor also acquired FAW Huali, a wholly owned subsidiary of FAW Group, at a symbolic price of "one yuan", thus obtaining the production qualification.

However, Baiteng underestimated the financial pressure of building cars. Under the influence of the market downturn and the epidemic, Baiteng Motor reported negative news that wages could not be paid in China, senior executives' salaries were cut, and employees were asked for wages and rights. At the same time, the 470 million yuan owed by Baiteng Motor to FAW Xiali was not paid off on time and should be paid before October 31 this year after consultation between the two sides.

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.

Surprisingly, it was thought that Baiteng Motor would withdraw from the "race", but a shell company was set up to continue the financing process. Nanjing Shengteng Automotive Technology Co., Ltd. was officially established on September 9, with a registered capital of 1.5 billion yuan. From the shareholder penetration map, we can see that Duan Lianxiang holds 6.67% of the shares, and other shareholders include FAW Equity Investment (Tianjin) Co., Ltd., Xiamen Daohe Zhaopin Investment Partnership, Nanjing Xingzhi Technology Industry Development Co., Ltd., and so on.

Baiteng Motor through the establishment of a shell company to continue to promote the financing process to speed up the landing of products. However, the industry is not optimistic about its future development. At present, the car manufacturing industry has entered a downturn and knockout stages, the new energy vehicle market is not as expected, and the heavily indebted Baiteng car will face more problems.

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