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Recently, a decision on administrative punishment from the Market Supervision Administration of Qingpu District of Shanghai has been exposed. judging from the exposure, the new brand of car-building brand Green Chi has had its business license revoked. The reasons for the punishment are as follows: if the company fails to start business for more than six months without good reason, or ceases business for more than six months after opening, the company registration authority shall revoke the business license. In addition, the punishment document also shows that the creditor's rights and debts of the parties concerned shall be liquidated by the shareholders of the limited liability company, the directors of the joint stock limited company or the personnel determined by the shareholders' meeting, and the parties shall cancel the registration in a timely manner. And this series of operations also means that the green car will officially fall down.

It is understood that Luchi Automotive Technology Group Co., Ltd. was established in August 2016, with a registered capital of about 3.366 billion yuan and the legal representative Cao Jiyuan. The scope of business includes technology development in the professional field of automotive science and technology, construction and operation of new energy vehicle recharging facilities, and so on. From the point of view of the time line, Green Chi was founded in 2016, which can be regarded as an earlier group of new car-building forces in China.

The first all-electric luxury sedan Uranus was unveiled in 2018. Officials say Uranus uses front and rear dual-engine drive with a maximum power of 520kW, peak torque 900Nm, wind resistance coefficient 0.3Cd, 100km / h acceleration in only 3.5s, 100km / h braking distance of 36m. Officials have said they plan to launch the first compact SUV in June 2019, the first four-seater minicar and medium-sized sedan in November, two-seater minicar in 2020, compact sedan in September, small SUV in February 2021, large SUV in May and MPV in August. Although the plan is good, not a single car is actually on the market. In June 2018, Luchi Automobile plans to invest 5.5 billion yuan to build a new energy vehicle plant with an annual production capacity of 200000 vehicles. Since then, due to lack of funds, the production base has been in the stage of site filling and formation. According to the original plan of Greenchi, the company will achieve a production capacity of 100000 vehicles in 2019. In May 2018, Green Chi held hands with Changan and won the right to use the spare capacity of Changan Suzuki, but it was not used either. In August 2019, Luchi said it would complete its listing in 2021-2022 after financing for the first round, round B and round C totaling about 10 billion yuan. However, before the financing was completed, Green Chi was exposed to be in arrears with its employees' salaries and fell into a situation of poor cash flow.

In 2020, the green car "changed owners", Henan invested in the main green car, contributed 2.01986 billion yuan to subscribe to 60% equity of the green car. However, the investment from the local government did not improve the situation of Luchi Motor. A person familiar with the matter disclosed to the media that since the beginning of 2021, the related business of Green Chi Automobile has basically shut down, and the internal core team has been essentially disbanded. The company's core team is constantly being purged. In April 2021, the people's Court of Qingpu District of Shanghai issued a notice to accept the bankruptcy liquidation case of Luchi Automotive Technology Group Co., Ltd.

It is not difficult to see that as an early member of the new energy vehicle market, Green car has not been easy along the way. The car has been built for many years, but the product is still in the trial-production stage, and the new car has not been put on the market. Some people in the industry said that in terms of its financing progress, production qualifications, and the research and development of new cars, Green Chi has lagged behind other competitors, in addition, the current new energy subsidies are gradually declining, lack of core, epidemic and other factors, and its prospects are very disadvantageous for Green Chi. Although Henan state-owned assets entered later, it still failed to reverse the situation. Mass production cars have not been listed on the market, and now their licenses have been revoked, which also means that Green cars may be out early among many new car-making companies.

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