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For the new car-building forces that have swarmed in the past two years, the name "Boxun Automobile" is not well known in the industry. At the 2019 World New Energy Automobile Conference, Huang Ximing, CEO of Nanjing Bojun New Energy vehicle Co., Ltd., shared the company's practice in platform development, safety management, efficiency control and manufacturing over the past three years.

Boxun Automobile was officially established in 2016, with a registered capital of 138.0458 million yuan, legal representative Huang Ximing. Compared with many new car-building forces, Boxun Automobile "entered the industry" relatively late and has not been delivered in mass production so far.

In contrast, in the low-key and silent past three years in Bo County, new car manufacturers such as Lai Automobile, Weimar Motor, Xiaopeng Automobile, Baiteng Automobile, Zero running car and ideal Electric car have all completed brand launches, even though their vehicles were still at the PPT level or just a concept car at that time.

In mid-2017, less than half a year before Boxun Motor was founded, some media conducted a face-to-face interview with Huang Ximing. At that time, Boxun Automotive planned to take off the production car in 2019, and the first brand conference was held just before the mass production car went offline.

On the eve of this year's Shanghai International Auto Show, Boxun Automobile launched three major electric vehicle platforms at the brand conference held in Shanghai, and its two intelligent pure electric SUV--iV6 and iV7 also made their global debut.

The company revealed that iV6's first body-in-white was officially released in early June and will be in mass production at the end of this year and delivery will begin in the first quarter of next year.

Or in order to achieve mass production and delivery as soon as possible, Boxun Automobile began to build a production base. Its Nanjing factory covers an area of 1300 mu, with a total investment of 10 billion yuan, with a planned production capacity of 150000 vehicles in the first phase, and the total production capacity will reach 300000 vehicles after the second phase is completed. In addition to building a factory in Nanjing, Bojun Motor also plans to build a factory in Shanghai Lingang.

However, in July this year, the media visited the site of the Boxun Automobile Shanghai port factory, in addition to the Tesla factory, did not find the Boxun automobile factory project. Immediately asked a number of people around, all said they did not know that Boxun car factory is under construction.

Even if the construction of the Boxun automobile factory is progressing smoothly, it is also faced with the embarrassment of not having the qualification to build the car. if there is no qualification to build the car, it can only be produced through the contract manufacturing mode.

The IV6B31, Boxun's first production car, is scheduled to go on sale by the end of 2019, but it has not yet applied for production qualifications, so it is looking for contract manufacturing like NIO. In March 2018, Boxun signed a strategic cooperation agreement with FAW Jilin Automobile Co., Ltd. (hereinafter referred to as "FAW Jilin"). It plans to cooperate in the development, production and sale of new energy vehicle products. Boxun's first pure electric SUV (IV6B31) is manufactured by FAW Jilin.

In addition, in May this year, some Weibo netizens revealed that Boxun cars, which were insolvent before mass production and lack of new financing to build factories everywhere, are now in a wave of wage arrears.

Some suspected Bergshire employees said that the 3.5 months' salary we are asking for is not at the end of the year when the company wants to give it or not. In fact, the money is written in the contract and is protected, because the monthly salary is not high. Just wait for the year-end bonus to make up. The company broke its word again and again, and the senior leaders played us like monkeys without explanation, which turned into an indefinite delay. I hope Bo County will give me an explanation.

It is understood that Boxun Automobile's operating income in 2017 was 13.18 million yuan, with a net profit loss of 300 million yuan. As of the end of June 2018, Boxun Automobile assets of 420 million yuan, total liabilities of 440 million yuan, the company has been insolvent.

Due to the lack of mass production and delivery, Boxun has no sales revenue, but the investment of R & D costs, plant construction costs and labor costs of managers will all lead to losses.

In addition, Boxun Automobile employees said, "because some things did not pass the examination, FAW Jilin OEM failed", Bojun Automobile later found FAW Xiali.

On the other hand, FAW Xiali, which cooperates with Boxun Automobile, has lost money year after year and barely protects the "shell" by selling high-quality assets. The company's operating income hit a new low in 2018, only 1.1 billion yuan, deducting a non-net profit loss of 1.26 billion yuan; in the first quarter of 2019, operating income fell 64% year-on-year, deducting a non-net profit loss of 230 million yuan. In order to get a "new life", put into the new energy car track.

According to employees, the research and development of the Boxun iV6 was completed at the end of last year, and a large amount of money is needed to successfully promote the mass production of the Boxun iV6, because the R & D investment from the mold opening to the back loading of the prototype car is the real place to spend money.

But according to Boxun's plan, Boxun cars will cost 18.5 billion yuan if all factories in Nanjing, Huai'an and Shanghai are completed and put into production.

Multiple investment and construction of the plant will cost Boxun a lot of money, and this is just the beginning, in the follow-up mass production, publicity, service links, still need a lot of money to support, and the plan Boxun iV6 will be mass production at the end of this year, the first quarter of next year to start delivery, so Boxun Automobile has such strength?

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