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The car company can't sell 200 cars in two years after running out of money and closing its stores.

2024-09-17 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)11/13 Report--

Take the lead in getting the "dual qualification" of the future car, and created a pure electric sports car against Tesla. However, such a car company with a bright future is in deep operational difficulties due to financial problems. According to the Beijing Business Daily, the first experience store in Sanlitun, Chaoyang District, Beijing, has been withdrawn after the future car capital chain was broken, while the delivery center in Jingang Automobile Park was also empty.

This experience store, named "Future Station", is the first experience store of Future Automobile. Thanks to the advantage of high passenger flow in the core area of Sanlitun, it has been regarded as a sharp tool for future cars since its opening. However, with the future car capital chain broken, the experience store has been quietly withdrawn. From the relevant pictures exposed, we can see that the floor-to-ceiling windows previously designed to make it easier for consumers to watch the exhibition cars have been affixed with frosted film, and the exquisite decoration of the store has also been leveled, leaving only bare concrete walls.

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In addition to the "Future Station", the experience store and delivery center of Future Automobile in Jingang Automobile Park have also been withdrawn. Media visits found that the door of the experience store was closed. Although the future K50 exhibition car was parked in the store, investment promotion signs had been pasted on the floor-to-ceiling windows, and a dusty test car was parked at the door. According to the landlord of the store, a 10-year store rental contract was signed with Future Motor in 2018, but the future car began to default on the rent in the second year of the contract, and the reason for withdrawing the store was that the future car could not pay the rent.

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According to the official website of Future Automobile, Future Automobile has direct experience stores in Beijing, Shanghai, Guangzhou, Suzhou and Chengdu. Among them, Beijing has set up the above two directly operated experience stores (Sanlitun / Jingang Automobile Park). With the withdrawal of the two stores one after another, it means that Future Automobile has withdrawn from the Beijing market. In addition, a staff member of the Future experience Store in Huangpu District of Shanghai said that there is only one experience store left in Shanghai, and its Future experience Store in Shanghai's Minhang District has also been closed.

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Data show that Future Automobile was founded in February 2015, and the first mass production model, Future K50, was officially launched in August 2018, positioning a pure electric sports car with a subsidized price of 686800 yuan, which can be said to be the most expensive car among domestic car manufacturers at that time.

Future wants to build a high-end brand image and recognition with the help of first-and second-tier shopping malls and the first sports car, but the K50 is seriously unsalable because of its high market positioning and pricing. Data show that the cumulative sales of Future cars since its launch are less than 200.

As a matter of fact, the start of Future Automobile is not much worse than that of Ulai and ideal. While other car manufacturers are still worried about production qualifications, Future Automobile has won the "dual qualifications" of the National Development and Reform Commission and the Ministry of Industry and Information Technology, and launched its first mass production sports car in 2018, against Standard Tesla Model S. However, in the case of broken capital chain, offline stores have been closed one after another, the first model is seriously unsalable, Future car has been in operational difficulties.

The various problems that Future Automobile is currently facing are not only related to its own product brand positioning, but also have a lot to do with the continued loss of the parent company Great Wall Huaguan. It is understood that the Great Wall Huaguan was founded in 2003, the Future Automobile brand was established in February 2015, and officially landed on the new third board in September of the same year. However, the performance of Great Wall Huaguan was not good after landing on the new third board, with a profit loss of 609 million yuan in 2018, 98 million yuan in 2016 and 226 million yuan in 2017. In April 2019, Great Wall Huaguan announced its withdrawal from the new third board, and the hindered financing process and persistent losses aggravated the development difficulties of the future automobile.

Due to the shortage of funds for car construction, Future Automobile / Great Wall Huaguan began to stop paying employees. It was previously reported that Future stopped paying salaries for ABC employees in July last year (there are seven ABCDEFG grades for future employees), and salaries for other levels of employees were also in arrears to varying degrees in August and September. Up to now, Future Automobile and its parent company, Great Wall Huaguan, have issued several termination agreements, but the salary problem of the employees has not been solved. After the exposure of unpaid wages, the company's chairman Lu Qun has been restricted to high consumption, the future of the car "future" is not optimistic.

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Some industry insiders pointed out that the financing of Great Wall Huaguan was all invested in building cars, but the launch of the model development path was wrong, allowing enterprises to miss their early advantages, resulting in the current situation. However, Future has not given up building cars, and the company plans to deliver a second production model next year. Cui Dongshu, secretary general of the Federation of passengers, said that in the face of difficulties in financing, the research and development of the second mass production model will continue to burn money, and it is difficult to say whether the funds for the future car can be supported. Even if the launch of the second model, the gradual contraction in the existing channels and the continued impact of negative news, the new products will not promote the enterprise very much.

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