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Production qualification has always been the most urgent problem to be solved by the new forces of domestic car building. if there is no production qualification, we can only seek the mode of "contract production" or acquire relevant enterprises to obtain production qualification. Recently, Fujian Xinfuda Automotive Industry Co., Ltd. has undergone an industrial and commercial change of investors (equity). The former shareholder Sanlong Group Co., Ltd. withdrew and added Zero Automobile Co., Ltd., with a shareholding ratio of 100%. In other words, Fujian Xinfuda Automobile Industry Co., Ltd. has become a subsidiary of Zero running Automobile Co., Ltd.

Fujian Xinfuda Automobile Industry Co., Ltd., founded in November 2001, is one of the national designated automobile manufacturing enterprises, and now has three major manufacturing bases in Fuzhou, Zhangzhou and Changzhou. The products cover a series of passenger cars and chassis, trucks (including pickups, light, medium and heavy trucks), dump engineering vehicles, special purpose vehicles, passenger vehicles and new energy vehicles.

Data show that New Fuda Automobile, formerly known as Fujian Automobile Factory, was founded in 1956 and was once known as the "ancestor of domestic pick-up trucks". However, due to market reasons, it almost disappeared after restructuring in 2006. In April 2010, Sanlong Group took over New Foda Motors, but did not bring it out of its operating difficulties. In February 2018, 10% of its shares in Quanzhou Economic and technological Development Zone were listed for sale.

After Zero Automobile acquires Fujian New Fuda Automobile, it will solve the problem of production qualification very well. At present, Zero Automobile products are mainly manufactured by Hangzhou Changjiang passenger car Co., Ltd. Data show that the parent company of Hangzhou Yangtze River passenger side Co., Ltd. is Hangzhou Yangtze River Automobile Co., Ltd., formerly known as Hangzhou Yangtze River bus Company, which was listed in 1996. In 2013, when Changjiang bus was on the verge of bankruptcy, Wulong Electric car injected capital into it and renamed it Hangzhou Changjiang Automobile Co., Ltd. Under the leadership of Wulong electric vehicles, Hangzhou Changjiang Automobile has successively obtained the production qualification of medium and large passenger cars and the access qualification of pure electric passenger car enterprises.

However, on September 29 this year, Hangzhou Changjiang Automobile Co., Ltd. was suddenly ruled to go into bankruptcy liquidation. The creditors of Changjiang Automobile shall declare their claims to the manager before November 11, 2020, state in writing the amount of the claims, whether they have property security and whether they are joint and several claims, and provide relevant evidence materials. Hangzhou Yuhang District people's Court held the first creditors' meeting on November 26. At present, the latest news is that Changjiang Automobile has openly recruited bankruptcy restructuring investors to carry out bankruptcy restructuring of Changjiang Automobile.

Some people in the industry believe that the thirst for production qualifications may be the main factor in the acquisition of new Foda cars. However, Zero Automobile officials have also said that "Yangtze River cars and Yangtze River passenger cars are not the same main body, and our qualifications are in cooperation with Yangtze River passenger cars, so there will be no impact."

Data show that Zero Automobile was established in December 2015, jointly invested by Zhejiang Dahua Technology Co., Ltd. and its main founders. It is a new energy automobile company focusing on the R & D, design, production and sales of new energy vehicles and auto parts and accessories. At present, Zero running S01 and Zero running T03 are on sale, of which the first production car Zero running S01 will be delivered in the second half of 2019, with a subsidized price of 11.99-149900 yuan.

At the Guangzhou Auto Show last month, Zero introduced the third mass-produced model, Zero C11, located as a medium-sized SUV, with an official pre-price of 16-200000 yuan. The Zero C11 plays an important role in the entry of Zero cars into the mainstream SUV and will be delivered as soon as the third quarter of next year.

According to the data, zero-running cars sold 2032 vehicles in November, with cumulative sales of 8367 vehicles from January to November, with Weimar and Nezha entering the second camp of the new power of car building, while Ulai, Xiaopeng and ideal are in the first camp.

According to Tianyan check information, zero-running cars are currently carrying out four rounds of financing, with a cumulative known amount of 3.26 billion yuan, which can be said to be "negligible" compared with other car-making enterprises. It is worth noting that there has been no related financing process since the A+ round of financing in August 2019.

Previously, Zhu Jiangming, founder of Zero Auto, said, "at the financial level, we can live for another three years without a penny of financing within three years. This is for sure. This is our own strength. Of course, we still hope to get more financing so as to develop faster." Wu Baojun, co-founder of Zero Motor, said in an interview that he plans to submit IPO documents in the second half of 2021, which will be listed on Science and Technology Innovation Board by the end of 2021 or early 2022, and that a round of financing will be held before IPO, the Daily Business Daily reported.

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