AutoBeta(AutoBeta.net)03/26 Report--

According to the China referee Writing Network, in the case related to the first Project (Beijing) Culture Co., Ltd., the executee Bowo Automobile (China) Co., Ltd. has no property to execute. According to the enforcement documents, in the process of execution, the Beijing Municipal No. 3 Intermediate people's Court inquired about the opening of accounts with financial institutions, house ownership, vehicle registration and industrial and commercial registration according to law. According to the investigation, there are no executable deposits, no movable property and motor vehicle registration information in the bank account under the name of the person subject to execution, and no foreign investment available for execution. The executor approves the inquiry results of our hospital. The court has taken measures to restrict consumption against the person subject to enforcement in accordance with the law.

In addition, according to China Business report, a manager of the Bowo car sales store in Beijing told reporters that the store was yellow, no longer selling cars, and after-sales service could not be done. Stores across the country no longer sell cars, and the company went bankrupt. Bowo car customer service center staff said that no bankruptcy notice has been received, but all car stores have been suspended and have been closed. He also said that the sales and after-sale of Bowo cars are separate, and after-sales problems have to go to Bowo's car repair outlets, and the after-sales business is still being carried out.

Baowo, who calls himself the "German four brothers", is now in a quagmire. At present, the official website of Bowo Automobile can still be opened normally, with words such as "with a hundred years of history", "Stuttgart, Germany" and "qualified for the production of both traditional and new energy vehicles". It seems to show that Bowo Automobile is a car company with strong competitiveness and sense of existence. However, the ideal is very full, the reality is very bony, the current Bowo car has been in a quagmire.

Chinese commercial vehicle brand Foton Motors bought Bowo for 5 million euros in 2015 and established Beijing Baowo Automobile Co., Ltd. in January 2016. after the acquisition, Bowo Automobile put forward the slogan "German Brothers" and launched the Bowo BX7. Coupled with publicity, the car sold 6000 vehicles a month at the initial stage of its launch. However, the good times did not last long, because technology and products could not keep up with the development of the times, coupled with years of losses, Futian Motor, which could not make ends meet, listed to transfer 67% of Beijing Bowo's shares, and eventually Shenzhou Youche bought Bowo Automobile for 4.109 billion yuan and became the holding company of Shenzhou Youche. However, Beijing Baowo, which was acquired by Shenzhou Youche, is also having a hard time. According to the interim report of Foton Motor, as of June 30, 2021, Beijing Baowo had total assets of 8.35 billion yuan, liabilities of 8.537 billion yuan, total net assets of-187 million yuan, operating income of 499 million yuan and net profit of-732 million yuan in the first half of 2021.

In June 2021, the market suddenly reported that Beijing Baowo would enter bankruptcy proceedings, and then the relevant reports were urgently deleted. Until today, it is still unknown whether Bowo will go bankrupt, but its current market operation is really worrying. At the same time, it is also reported that the relevant authorities in Beijing are actively promoting Xiaomi to acquire the production qualification of Bowo cars and transfer the production capacity of 180000 Bowo cars to the Xiaomi automobile project. According to relevant news, Xiaomi Motor has officially settled in Beijing Economic Development Zone, and the first car is expected to be offline and mass produced in 2024, while Xiaomi's lack of qualification for the production of new energy vehicles means it is impossible to produce new energy vehicles. This problem can be solved either through the contract manufacturing of traditional car companies, or through the acquisition of car companies qualified for the production of new energy vehicles. So far, it is not clear whether Xiaomi will buy Bowo, but the acquisition of Bowo does provide a lot of convenience for the mass production of Xiaomi cars, and perhaps the most valuable thing for Bowo is the production qualification.

Of course, for Bowo Automobile, being eliminated in the domestic automobile market is not only the result of natural development, but also the result of market competition and consumer choice, which is the most direct reflection of China's stock competition. However, for car owners who have bought Bowo cars, the decline and collapse of a brand is undoubtedly a fatal blow, in addition to daily maintenance and repairs can not be carried out normally, Bowo promised lifetime warranty into a bubble.

Who will be responsible for the after-sales maintenance of Baowo car owners in the future? In this regard, the media sought confirmation from Baowo dealers. Some dealers said: at present, their after-sales service is normal, but because of the epidemic, the industrial area is under control, and everything else is normal. There are also individual dealers said that the current lifetime warranty service can not be used, the manufacturer's notice is to suspend the claim, there is no clear time for the follow-up opening. However, the manufacturer did not tell the car owner that it could not be used, and now the national claims are suspended and the factory is in the process of rectification.

In response to both claims, Bowo did not respond to many car owners who chose to complain about Bowo on the car complaint platform.

Bowo's future is likely to come to an end this year. As a "German brand" that calls itself "BBBA", it is inevitable that it will end up in this way. At present, Bowo still has a number of models on sale, but all vertical websites show that they are not on sale, and the update date is 2018, which seems to be a sign that some independent brands failed a few years ago. A successful car brand can not only rely on slogans, but also have strong product strength and brand competitiveness. It is obviously impossible for Bowo to rely on its "German pedigree" to win market recognition, even if it is the halo of German luxury cars, without solid car-building skills, it is also difficult in the domestic market.

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