AutoBeta(AutoBeta.net)10/13 Report--

The renovation of the production line of Evergrande's Tianjin plant was basically stalled not long ago due to arrears to equipment suppliers, and the Hengchi 5, which was originally scheduled to be launched early next year, did not start production as scheduled, LatePost reported. According to reports, the suppliers involved in this matter include Kuka, the general contractor of the welding workshop of Evergrande Automobile Tianjin Plant, the Japan Atmospheric Society, the supplier of the painting workshop, the CNAC Engineering of the general contractor of the final assembly workshop, and the Tianqi model of the stamping workshop built in cooperation with Guoneng. At present, except that the stamping workshop is mainly used by the sky steam mold and supplies stamping parts to other automobile enterprises, the other workshops are in a state of suspension or partial suspension of production.

In response to the reported shutdown of the production line transformation of Evergrande's Tianjin plant, relevant sources close to Evergrande revealed that the transformation of the production line of Evergrande's Tianjin plant was fully restarted at the beginning of this month and is now going all out to ensure that Hengchi models will be off the line early next year as scheduled.

According to previous reports, on October 11, Evergrande President Liu Yongzhao said at the strategic partnership conference that Evergrande had launched a three-month battle to ensure that the first model, the Hengchi 5, would be offline at the Tianjin plant early next year. Liu Yongzhao said that the company has mobilized core R & D teams and technical elites from Shanghai, Guangzhou, Shenzhen and other places to support, and the Tianjin base has been transformed into a domestic first-class industrial 4.0 high-end intelligent factory. With the full cooperation and strong support of partners, Evergrande vows to ensure the realization of Hengchi production goal with the greatest determination and maximum efforts.

According to the official website, executives of nearly 200 strategic partners, including Bosch, Antonglin, Hitachi and Hutchinson, attended the conference, and supplier representatives attending the meeting expressed their belief that Evergrande could quickly get out of the dark moment and would like to work together to ensure the quality and quantity of relevant spare parts to be completed on time, and to ensure that the first car of Hengchi in Tianjin factory was offline.

It is understood that Evergrande released six models in Shanghai and Guangzhou in August 2020, covering all levels of cars from A to D, including sedans, SUV and MPV models. According to the plan, Evergrande Guangzhou production base and Shanghai production base will be completed from September to October, and mass production will be realized one after another in 2021, with a planned production capacity of 200000 vehicles in the first phase.

Evergrande ensures that the mass production model at the beginning of next year is Hengchi 5, which is positioned as a compact SUV and is an entry-level model of Evergrande. It was originally planned to be put into production at the Guangzhou factory, but because the Guangzhou factory has been slow to get the production qualification, Evergrande feels that it has shifted its strategic focus to Tianjin, where it plans to produce Hengchi 5. According to previous reports, some production personnel, production equipment and trial cars from Guangzhou and Shanghai were transferred to Tianjin. Data show that in October 2018, the national energy new energy production project was approved by the Ministry of Industry and Information Technology, becoming a new energy vehicle enterprise with "dual qualifications" of the National Development and Reform Commission and the Ministry of Industry and Information Technology. After holding Tianjin Guoneng Automobile, Evergrande also obtained the automobile production double qualification, but this production qualification can only be used in Tianjin. The current production equipment of the Tianjin factory is designed according to the Guoneng "NEVS 93" model. If it is used to produce Hengchi 5, Hengchi may need to transform the production line.

Whether Evergrande can ensure smooth mass production at the beginning of next year is uncertain. At present, Evergrande Group is in a deep debt crisis, and Evergrande relies largely on its parent company to survive. Evergrande Group's debt problems will certainly affect Evergrande's planning. On September 24, Evergrande issued an announcement, "facing a serious shortage of funds." In view of the liquidity pressure, the Group has suspended some of its daily expenses and related suppliers have suspended supply. In view of the above difficulties, challenges and uncertainties in improving liquidity, the Group cannot guarantee that it will continue to meet its financial obligations under the relevant contracts. " As of the date of announcement, the Group has not made significant progress in resuming work for some projects.

In addition, some employees of Evergrande in Shanghai, Guangzhou and Tianjin were verbally told to take time off until the end of October, and attendance records are no longer displayed in the attendance system after the employees who are "on leave" have clocked in normally, LatePost reported. A number of employees told LatePost that they had not received their September salary and that the provident fund had not been paid on time.

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