AutoBeta(AutoBeta.net)09/23 Report--

After Aichi car, another new power brand was exposed that the Shanghai headquarters was empty.

The Weima Automobile headquarters building in Qingpu District of Shanghai has been deserted and its doors are closed, Interface News reported. From the outside, the signboard and logo of Weimar have not been removed, only one Weima chassis display is still parked in the lobby, and the Weimar W6 and M7 on the right side of the entrance have been removed. According to the security guard, Weimar moved out a few days ago. The property staff of the park refused to disclose relevant information about where Weima Motor moved to.

Qingpu District government sources revealed that Weima car due to long-term arrears of rent, the headquarters building has been recovered by the property side. In fact, as early as the beginning of this year, under the background of the closure of a large number of stores, the suspension of production in factories, and the suspension of social security payments by employees in arrears of wages, Weima Motor was exposed that the headquarters building might be moved out due to serious arrears of property fees and rent. The company is almost paralyzed and few people go to the office to work because there are no jobs to move forward. From this point of view, it is also expected that Weimar Motor's Shanghai headquarters building has been vacated.

Qingpu District government sources revealed that Weima car due to long-term arrears of rent, the headquarters building has been recovered by the property side. In fact, as early as the beginning of this year, under the background of the closure of a large number of stores, the suspension of production in factories, and the suspension of social security payments by employees in arrears of wages, Weima Motor was exposed that the headquarters building might be moved out due to serious arrears of property fees and rent. The company is almost paralyzed and few people go to the office to work because there are no jobs to move forward. From this point of view, it is also expected that Weimar Motor's Shanghai headquarters building has been vacated.

At present, the living condition of Weimar is very worrying.

On August 31, the people's and Social Affairs Bureau of Qingpu District of Shanghai issued an administrative decision to Weima Automobile. The administrative decision shows that Weimar owed a total of 13.39 million yuan in wages and remuneration to its 248employees from February to May 2023, and the department has made an administrative decision to require Weima to reissue the full wages owed to the employees within 15 days from the date of receipt of the administrative decision. As of press time, Weimar has not yet responded to the receipt of the relevant decision and the progress of implementation.

In fact, as early as the end of 2022, Weimar reported a pay cut, including a 50% pay cut for management and a 30% pay cut for the rest of its employees, in order to reduce operating costs. In February this year, Weimar was exposed to the news that employees were in arrears of wages and social security provident fund, so employees went to the gate of Weimar factory to pull banners to protect their rights, and since then relevant departments have intervened to investigate the matter.

At present, Weimar is facing a huge crisis in the three main operational links of production, sales and after-sales service. In terms of production, the Weima factory is in a state of suspension, and the on-the-job employees can only get a basic salary of 1700 yuan a month to survive because of no performance. In terms of sales, Beijing, Shanghai, Chengdu and other places closed stores in large areas, because no consumers are willing to buy Weima models, resulting in dealers facing double difficulties, more and more dealers choose to withdraw from the network and turn to other car brands. In terms of after-sales, the closure of a large area of stores makes it difficult for car owners to maintain, coupled with the suspension of production at the Weima factory and the failure to pay the suppliers in time, the car owners are unable to enjoy after-sales service, and an accessory has to wait for months.

Behind all this, it is because the capital chain is broken. According to the heavenly eye investigation, Weima Motor has been executed a total of 602 million yuan at present. In order to solve the funding problem, Weimar has sought to list IPO several times, through Science and Technology Innovation Board and the Hong Kong Stock Exchange, but failed. In early 2023, Weimar planned to go public by backdoor APOLLO, but the acquisition also ended in failure.

On September 11, Kaixin announced that it had signed a non-binding list of acquisition terms with Weimar and planned to issue a certain number of new shares to acquire the 100% stake in Weimar held by its existing shareholders. Prior to this, Kaixin Motor set up a new energy vehicle department and entered the development of the minicar market through the acquisition of punk's parent company. Happy Motor undoubtedly took a fancy to the qualification of new energy production and factories, but Happy Automobile's own business situation is not optimistic and has been losing money for many years in a row.

"if you can't do it, you'll go to death, and if you turn on the electricity, you'll be done!" Shen Hui, founder of Weimar, posted a post on social media on Sept. 18.

Weimar Motor is more like a new power company abandoned by the times, its products lack of technological innovation, and its operating condition has been above the warning line for a long time. From this point of view, although Weimar is "appreciated" by happy cars, Weima is not "happy", and it seems that it is difficult for the market to give optimistic expectations. So far, Weimar has not made this news public.

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