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A few days ago, a notice circulating on the Internet about the risk investigation of some car companies within a joint-stock bank made four car companies, including Zhongtai Automobile Co., Ltd., trapped in a whirlpool of public opinion. As the incident continued to ferment, Zhongtai Motor also took the lead in issuing a statement to refute the rumor.

However, it was revealed today that Zhongtai Motor had been sued by Bic Battery to the court for freezing its assets of more than 40 million yuan because it owed hundreds of millions of yuan to Shenzhen Bic Power Battery Co., Ltd., a lithium battery supplier. According to insiders, the Longgang District people's Court of Shenzhen is hearing the case.

According to public data, on May 27 this year, the court of the Longgang District people's Court of Shenzhen City filed a case against the above dispute, and the plaintiff Bic Battery applied to the court for property preservation, requesting to seal up, seize or freeze the property owned by the above four defendant "Zhongtai" enterprises with a total value of about 41.8378 million yuan.

Zhongtai Automobile, with foresight, won the country's first new energy production and marketing license as early as November 2008. less than half a year later, the first new energy Zhongtai 2008EV was unveiled at the Shanghai Auto Show, marking the first market-oriented operation of electric vehicle enterprises. On the basis of strong product power, Zhongtai 2008EV is also popular, with its solid foundation, Zhongtai gradually expand the development of new energy.

With the blowout development of the new energy vehicle market, Bic battery, which already has a good strength in battery technology, began to shift the focus of development to the lithium battery industry chain of new energy vehicles in 2008. And began to cooperate with Zhongtai Automobile in 2014. Since then, Bick Battery has also been an important power battery supplier for Zhongtai New Energy vehicles, accounting for about 60% of the power battery supply of Zhongtai New Energy vehicles.

However, with the fierce competition in the automobile industry, Zhongtai Motors, which does not have too much of its own product strength, has gradually been marginalized and its sales have dropped sharply. From January to August this year, Zhongtai's sales were 125000, down 32.4% from a year earlier. According to the financial report, Zhongtai Automobile completed sales revenue of 5.04 billion yuan in the first half of this year, down 50.83% from the same period last year, and a loss of 290 million yuan, down 195.37% from the same period last year.

No sales volume can only make a loss, and the loss can only be in debt. with the inability to recover the funds, Zhongtai Motor has legal disputes with a number of auto parts suppliers. According to Tianyan investigation, Zhongtai Automobile has owed payments to at least a dozen suppliers. Up to now, Zhongtai Automobile has a total of 23 judgment documents.

Among the information made public, in 2019 alone, three enterprises, Ningbo Yongxin Automobile parts Manufacturing Co., Ltd., Shenzhen Bic Power Battery Co., Ltd., and Jiaxing Tianxin Electric Wire Co., Ltd., applied to seal up, seize or freeze the assets of Zhongtai and its subordinate companies, involving about 44.685 million yuan. According to Zhongtai Automobile's 2019 semi-annual report, the company's accounts payable in the first half of the year were about 4.81 billion yuan.

Zhongtai Automobile, which is at a critical juncture, has won financial support. according to the minutes of a "production and operation meeting" circulated by Zhongtai's internal employees in Baidu Tieba, according to the spirit of the instructions of the provincial, municipal and county governments on Zhongtai Automobile's rescue and assistance, based on the confidence in the future development of Zhongtai Automobile, under the unremitting efforts of the government, banks and Zhongtai Automobile, Zhejiang Merchants Bank will take the lead. Bank of China, Construction Bank and Yongkang Agricultural Commercial Bank will jointly issue 3 billion yuan in capital loans to Zhongtai Motor.

However, there is no definite news to confirm, but if the information is accurate, the 3 billion yuan will undoubtedly help Zhongtai boost confidence and morale. In the face of the downward trend of the entire market, more and more car companies are being eliminated. Maybe survival is the highest standard.

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