AutoBeta(AutoBeta.net)09/02 Report--

Recently, a group of road test photos of Hengchi 7 have been exposed online. Hengchi 7 has been unveiled at the Shanghai Auto Show earlier, but this is the first time that Hengchi 7 has been photographed on the road, which is slightly different from the car on display. The diamond texture in the middle of the front face has been cancelled, the rearview mirror has changed from electronic to traditional shape, and the shape of its rims is also different from that of the exhibition car. In addition, the new car is not in camouflage, which means that its body design is close to a mass-production version.

According to the previously released information, Hengchi 7 is positioned as a pure electric B-class luxury car. Its body length is 4820mm, its wheelbase is 2910mm and its comprehensive range can reach 710km. The chassis part will be equipped with adaptive air suspension. Earlier, according to the model layout plan released by Evergrande, the price range of the Hengchi 7 is 20-350000 yuan, directly targeting Mercedes-Benz C-Class, Audi A4L, BMW 3-Series and other models.

On August 30th, Evergrande reported a net loss of 4.79 billion yuan in the first half of 2021, compared with a net loss of 2.531 billion yuan in the same period last year. As for the increase in the company's losses, Evergrande said it was mainly due to a decrease in gross profit of the health business, and that the company was in the investment stage of expanding the new energy vehicle business, resulting in an increase in marketing expenses and R & D investment in the new energy vehicle business. Evergrande also said it was facing cash flow challenges. It said that in the health valley and the living space of new energy vehicles, the company delayed the payment of suppliers and project payments, resulting in the suspension of some related projects. At present, with the coordination and support of the government, the company is actively striving for the resumption of the project. In addition, in terms of new energy vehicles, Hengchi 1, Hengchi 3, Hengchi 5, Hengchi 6 and Hengchi 7 are being tested in summer and are nearing completion, and Hengchi is in the stage of mass production. However, the company still faces the challenge of cash flow, and the timetable for mass production of new energy vehicles may need to be postponed due to the lack of further capital investment in the short term. The company will continue to promote the mass production of Hengchi series products and strive to continuously develop and expand the model matrix to meet the differentiated needs of different automobile markets at home and abroad as well as the broad masses of customers. To improve cash flow at this stage and deal with the problem of liquidity. Evergrande said that at present, the measures taken by the company include actively resolving suppliers and project payments, deducting part of the arrears with health space and living facilities, with a total amount of about 1.19 billion yuan, and actively introducing investors and negotiating to provide further capital investment.

Recently, China's Evergrande Group has been frequently exposed to be mired in a debt crisis, which has also affected Evergrande Motor. On August 10, China Evergrande announced that it was in contact with several potential independent third-party investors to discuss the sale of some of its assets, including, but not limited to, the sale of some interests in the company's listed subsidiaries, China Evergrande New Energy Automobile Group Co., Ltd. And Evergrande property Group Co., Ltd.

It is understood that Evergrande Automobile, formerly known as Evergrande Health, is the holding company of China Evergrande Group. Since 2017, China Evergrande has distributed its automobile business through Evergrande Health. In July 2020, Evergrande Health, a listed company of Evergrande Department, announced that it had changed its name to "Evergrande Automobile". Its main business includes new energy vehicles and health management. The health business is the main business of Evergrande, and the new energy vehicle business accounts for only 0.53% of Evergrande's revenue. Although Evergrande is called automobile, its new energy vehicle business has not yet sold the whole car, and currently mainly provides technical services, lithium battery sales and auto component sales. Health management division business mainly includes health space sales, medical beauty and health management income and rental income, health space income accounts for the largest proportion. According to relevant data, from 2018 to 2020, Evergrande's annual losses are 1.428 billion yuan, 4.426 billion yuan and 7.74 billion yuan respectively.

At present, Evergrande has 14 models under development at the same time, of which 9 models of Evergrande have been released during this year's Shanghai Auto Show, covering all levels A to D, as well as passenger cars, sedan cars, SUV, MPV, crossover cars and other passenger cars. At the site of the summer test launch ceremony of Evergrande, Evergrande President Liu Yongzhao once said that Evergrande will start trial production in the fourth quarter of this year and deliver large quantities next year. Power batteries with higher specific energy, high safety, long life and super charge will also be mass-produced in the second half of this year. According to the three grand goals of Evergrande car building clearly put forward by Xu Jiayin, chairman of Evergrande Group: Evergrande Automobile will become the largest and strongest new energy automobile group in the world, with annual production and sales of more than 1 million vehicles by 2025 and more than 5 million by 2035. However, under the pressure of huge losses and lack of funds, there are still some variables in whether the Hengchi series can be mass produced.

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