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The youth car is suspected of withdrawing funds, and the 26.7 billion project is enforced.

2024-09-17 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)08/06 Report--

On August 5, according to the enforcement ruling issued by the Supreme people's Court of Ningxia Hui Autonomous region, a project with a planned investment of 26.709 billion yuan in Shizuishan, Ningxia, officially entered the stage of compulsory implementation. The case, which has dragged on for many years, is finally coming to an end.

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The Youth Automobile project began in 2010, when Youth Motor signed an "Investment contract" with the people's Government of Shizuishan under the guise of building cars, saying that it would invest 26.709 billion yuan in Shizuishan. It will be used to build a project with an annual production capacity of 210000 heavy trucks, 100000 Lotus cars and 510000 large engines. As support for youth car investment, the Shizuishan people's Government gave a number of local coal mines to youth cars, and let Shizuishan Mining Group contribute 49.8 million yuan in the price of physical coal mines, and youth cars contributed 116 million yuan in cash to jointly establish Guoma technology.

But to the surprise of the Shizuishan government, the project did not go as expected. In early 2014, youth cars left Shizuishan, while the local originally planned car project was completely shut down in the middle of the same year, and the Shizuishan investment project was deadlocked for a time. What shocked the Shizuishan government even more was that the youth car had withdrawn 116.2 million yuan of registered capital from Guoma Science and Technology twice before, and even cashed out 1 billion yuan by selling coal mines allocated by the local government.

In response, the Shizuishan government thought it had been cheated and took the youth car to court. On June 6, 2018, the higher people's Court of Ningxia Hui Autonomous region issued a judgment, requiring the youth car to return 116.2 million yuan and pay corresponding interest. After the verdict was handed down, Pang Qing, the legal representative of Youth Motor, expressed his disapproval and appealed to the Supreme people's Court. On December 29th of the same year, the Supreme Court rejected the appeal, upheld the original verdict and asked the youth car to bear the fee of 622000 yuan for accepting the case. However, due to the failure of the youth car to fulfill the final judgment of the judgment, the Supreme people's Court of Ningxia Hui Autonomous region recently issued an enforcement ruling, announcing that the Shizuishan project of the youth car has entered the stage of enforcement.

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At this point, the youth car case has finally come to an end after dragging on for many years, and this case has also given some enlightenment to those areas where they have been deceived-the law will eventually stand on the side of justice, and when their rights and interests are violated, choose to take up the weapons of the law to safeguard their legitimate rights and interests.

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