AutoBeta(AutoBeta.net)09/15 Report--

At this year's Frankfurt Motor Show, Baiteng brought a mass production and stereotyped version of the M-Byte, with the new car positioned as a pure electric medium-sized SUV. Equipped with a 48-inch shared full screen, the maximum battery life of the NEDC is 550km, and the battery time is 35 minutes from 0 to 80% in the case of fast charge.

At the same time, Baiteng also announced that Baiteng M-Byte will begin mass production in mid-2020, then first delivered to Chinese consumers, and is expected to accept bookings from Europe and North America in 2020, and officially enter the European and American markets in 2021. This means that Baiteng M-Byte is six months behind schedule for mass production at the end of 2019.

Similarly, Baiteng promised to disclose details of round C financing in the middle of this year, but the move was delayed by four months. Recently, Baiteng CEO Dai Lei said that the $500m financing for round C is coming soon, with an estimated size of US $500m, involving investors such as FAW Group and the industrial investment funds of the Nanjing Municipal Government. FAW Group has recently signed an investment agreement with Baiteng to participate in Baiteng C round of financing.

Baiteng CEO Dai Lei said that the main purpose of this financing is to protect the capital demand for production in the middle of next year. After round C, we will start the next round of financing, which is mainly considering the liquidity after putting into production, including the R & D investment of the second and third cars.

According to insiders, in order to ensure mass production, in addition to round C financing, Baiteng will also get funds through bridge loans and government subsidies. The first is a bridge loan guaranteed by a partner, and the second is that when Baiteng settled in Nanjing, the local government promised that a certain amount of money would be given whenever it reached a certain point, and Baiteng would get about 200 million US dollars this year.

Since the former CEO Bi Fukang left Baiteng to join Iconic at the Shanghai auto show in April, there has been less and less news about Baiteng. In July, Baiteng also revealed that there were financial difficulties. FAW Xiali issued an announcement in June that Nanjing Zhixing had failed to pay the debt owed as agreed, so FAW Huali had not yet been handed over to Nanjing Zhixing. As a result of an announcement, the cash-strapped plight of Baiteng Motor was made public. Zhang Xiang pointed out that the previous departure of founder Bi Fukang was also related to financial problems.

In addition, Zhang Xiang believes that compared with last year, the living environment of Baiteng Automobile has a deteriorating trend. Baiteng new car production line for a long time, coupled with the imperfect channel construction, increased its survival pressure. At present, Baiteng has only one experience center in Shanghai, which is much slower than that of NIO and Weimar.

We cannot judge whether Baiteng Motor will be able to mass-produce M-byte on time in 2020 and whether it will become the last new car-building force. It will take time to prove it.

Judging from today's ranking of new car-building forces, Baiteng has fallen out of the first echelon of new car-building forces. Coupled with this year as a recognized "elimination year" of new car-building forces, the current situation of Baiteng is even more difficult.

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