AutoBeta(AutoBeta.net)11/25 Report--

Since its establishment in 2017, Baiteng Motor has raised a total of about 8.4 billion yuan in four rounds of financing. Now that the funds have been exhausted and shut down, CCTV commented that "burning up 8.4 billion yuan will not produce a mass-produced car." Recently, new news has come out from Baiteng Motor.

According to the investigation information, recently, Nanjing Zhixing New Energy vehicle Technology Development Co., Ltd., an affiliated company of Baiteng Automobile, was listed as the executee by the people's Court of Qixia District of Nanjing City, with a bid of 332540 yuan. Up to now, it can be found that there are two records of the person subject to execution in the company, with a total amount of 2.2163 million yuan.

According to the data, Nanjing Zhixing New Energy vehicle Technology Development Co., Ltd. was established in June 2017, with a registered capital of 5.65 billion yuan, and the legal representative is Dai Lei, co-founder and CEO of Baiteng Automobile. the company's business scope includes electric vehicles and parts research and development, sales and so on. And Baiteng Automobile is the new energy vehicle brand of the company.

Baiteng Motor, which has been established for three years, has won a total financing of about 8.4 billion yuan, and it is also a new power car-building enterprise favored by the outside world. The Baiteng Nanjing plant was completed in September last year, and officials said that the construction of the five major process workshops of stamping, welding, painting, final assembly and battery had been completed and the installation of main equipment had been completed and entered the commissioning stage. Baiteng expects the first model, the M-Byte, to go into production in mid-2020.

However, Baiteng ran out of money, to the point of shutdown, financing difficulties further exacerbated the company's operating crisis, and eventually led to employee wage arrears and shutdown.

With the withdrawal of rents for offices in Shanghai and Beijing, the Baiteng car shutdown has also been implemented. On June 30, 2020, the internal email of Baiteng Motor informed all the employees in China that the company had stopped production and all employees were waiting for duty from July 1, 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 does not seem to have given up on car-building plans, and the restructuring plan is still under way.

In October, the media learned from Baiteng insiders that the Baiteng restructuring plan had been approved by the shareholders' meeting and was being implemented. This means that since the shutdown at the end of June this year, Baiteng's restructuring strategy has made substantial progress. The insider also said, "for the restructuring of Baiteng, FAW and other core shareholders have given support, hoping to promote the rapid restart of Baiteng." At present, Baiteng's goal is to restart the project as soon as possible, promote M-Byte research and development and mass production, the overall work is currently promoted by General Ding (Chief Affairs Officer of Baiteng Ding Qingfen). "

The previous September, Nanjing Shengteng Automotive Technology Co., Ltd. was established with a registered capital of 1.5 billion yuan, including auto parts research and development, technical services, technical development and so on. The insider said, "at present, Baiteng Motor is indeed doing the project restart work, hoping to start mass production as soon as possible." After the establishment of Nanjing Shengteng Automobile, it mainly focuses on the research and development of M-byte models. " At the same time, Shengteng will focus on product research and development and electric platform technology development, while Baiteng will focus on industrial production and marketing, the two management integration, business complement each other.

Now Baiteng Motor has entered the restructuring stage, and the first mass production car is expected to be put on the market in 2021. However, with the increasingly fierce competition in the domestic new energy vehicle market, the overall pattern tends to be stable, and Baiteng Motor re-enters the game, the pressure it is facing is also increasing.

The new force of car building has already entered the knockout stage, hovering on the brink of life and death, and the crazy wave of car building will eventually return to the rational market state.

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