AutoBeta(AutoBeta.net)05/17 Report--

According to the heavenly eye investigation, due to the ability to perform and refused to perform the obligations determined by the effective legal documents, Reading Automobile Group Co., Ltd. was listed by the people's Court of Jinyun County as a person who broke his promise (Lao Lai). Data show that Reading Automobile Group Co., Ltd. was established in October 2012, the legal representative is Wang Dejin, with a registered capital of 100 million yuan, and is wholly owned by Bidwen Holdings Group Co., Ltd.

This is just a microcosm of the loneliness of Reading cars. At the beginning of this year, the founder of Reading posted a "real name report letter" on his official Wechat account, but the authorities quickly deleted it, and Li Guoxin was later rumored to have settled overseas.

In February, an "open letter from Jiangsu dealers to the joint investigation team of Reading Province and City" (hereinafter referred to as the "open letter") circulated among Reading dealers. The "open letter" listed many unreasonable operations of Reading cars in the course of operation, resulting in dealers losing millions of yuan. Read car dealers believe that, "Reading from the beginning is a fraud for the purpose of the company, every step of the operation is a well-planned scam." The dealers said, "the dealer is the victim of the Reading scam, and the Jiangsu dealer asked the joint investigation team to strictly investigate the matter and give them an explanation." Since then, Reading has not publicly responded to the matter, and even raised the price of its models without taboo.

A few months after "disappearing", Reading Motor added a new bankruptcy review case on May 6, the case number is (2023) Lu 0725 Breshen No. 1, the applicant and the respondent are both Reading Automobile Group Co., Ltd., the handling court is the people's Court of Changle County, Weifang City, Shandong Province.

Once the star enterprise, now reduced to this, can not help but let people saddened. From 2018 to 2019, Reading acquired and reorganized Shaanxi Qinxing Automobile and Sichuan Automobile Mustang successively, and obtained the production qualification of new energy passenger cars, fuel passenger cars and passenger cars. After that, Reading i3, i5, i9 and other models were launched one after another, and it was not until the launch of the mango model that Reading had a sense of existence, and behind the launch of the mango model, it was the time of the fire of mini cars such as Hongguang MINIEV and Chery QQ ice cream, but facts have proved that it is indeed difficult for non-mainstream car companies to compare with front-line car companies, so Reading is in deep operational crisis. Negative news such as shortage of funds, limited production capacity and large-scale withdrawal of dealers have been exposed one after another.

Does Reading Motors have a chance to rise from filing for bankruptcy to becoming a rogue? According to Tianyan survey data, as of May 17, 2023, Reading Motors was involved in 192 lawsuits, involving a total amount of 206 million yuan, of which the amount of Redding Motor as the plaintiff was only 129600 yuan. In addition, Reading Motor, as the person subject to execution, was executed with a total amount of 74.46975 million yuan.

As of press time, the last update to Redding's official Wechat official account stayed on March 8, while the official Weibo stopped on January 14, while the official website was closed and the relevant website information could not be searched normally.

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