2019 China’s auto market, many of the burst of thunder, stopped all no stopping. And by 2020, there will be more incidents, because a chain reaction, a part of a problem, it will lead to the next round of the butterfly effect.
2018 Changan Suzuki withdraw from the Chinese market, in 2019 Chang’an DS launched the Chinese market, year on year negative growth for several months of the automotive market, even for 2020, sales are expected to decline to 22.5 million, which means that Chinese market there are many hundreds of car prices already at the edge of death. Enter the last month of 2019, news about the Zotye vehicles, entered the public view.
because the new energy automotive debt 616 million yuan
With the November 27, 2019 evening, the public Motors issued the “Notice on litigation matters of” public Motors due wholly owned subsidiary the company – Hangzhou Genencor power Co., Ltd. (hereinafter referred to Genencor power) owed money, was Shenzhen BAK power battery Co., Ltd. (hereinafter referred to as BAK battery) prosecution. BAK Battery requirements, public Motors as one of the defendants, jointly and severally undertake to be able to pay off outstanding power of nearly 616 million yuan (liquidated damages owed money +) debt, public Motors said it had sued.
amount
616 million yuan include:
1 As of July 10, 2019, public Taijie can power payables balance of about 475 million yuan.
2. BAK has been shipped to the total power Genencor 1948 sets the battery pack is not settled, the amount of about 0.75 million.
3 above 2:00 totaling about 545 million yuan owed money, in addition, BAK Battery also requires public Motors and its subsidiaries to pay liquidated damages for late payment of about 071 million yuan (temporary meter to 2019 August 31 Japan, after which about 545 million yuan as the base, according to the bank lending rate 1.5 times over the same period to the date of actual paying off).
which is behind all the Thai new energy sources closer to discontinued
A lot of people did not find the new ZotyeEnergy 2019 annual production and sales have been infinitely close to the cut-off state, according to data released by the Federation, 2019 January-October all the Thai new energy production units for 1873, from January to October 1941 cumulative sales of wholesale units. The 2018 1– production data for October 22919 units, sales of 22615 units.
2018, all sales target Thai new energy to 80,000 units, the actual final result is a total annual sales volume 33872, only 42.3 percent complete annual target. And, in December 2018 assault on the card as well as the phenomenon of the assault on the card over 10,000 units. In other words, new energy Zotye 2018 new energy vehicles sales less real than 33,800 units.
According to our understanding, from the beginning of October 2018, the Thai public has been close to cut-off the new energy, time has been 1 year.
in the current directory, all the Thai New Energy’s products include: Zotye E200, Zotye T11S, the Thai public cloud 100S, sesame E30, Zotye Z500EV, Zotye T300EV several models.
According to May 2018, the Ministry issued revocation “exempt from vehicle purchase tax for new energy car models directory “the list of models, vehicle models, the Thai public has been revoked purchase tax-free status, the Thai public will also be new energy core business Zotye transferred to Ford. And into 2019, the congregation burst AFC Telford United are close to the business shut down, performance continued to deteriorate.
At present, the Thai public’s one of the few new energy has some competitive models, Zotye E200, 6.99 million yuan to subsidize, mileage 301 km, has not keep up with the progress of the new energy vehicle market rate.
hopeless parent company to resume production performance continued to deteriorate
of the above-mentioned series can be seen, the current Zotye new energy business is almost impossible to start manufacturing cars approaching stagnation, with close to stagnant sales, was not with mainstream products, all AFC Telford United’s business is also close to stagnation.
2018, China’s auto market freeze, ZotyeCar began to decline. Zotye automobile sales of 154,800 cars in 2018, operating income was 14.764 billion yuan, net profit of 800 million yuan after net profit after deduction of non -12.41 billion. However, by virtue of backdoor listing, the public Motors in earnings for the final profit.
2019, Zotye automobile performance to fall further. The first three quarters of this year, operating income was 5.401 billion yuan over last year fell 59.59 percentage, net profit attributable to shareholders of listed companies -7.60 billion yuan, down 283.02 percentage. According to data by the Federation, the public Motors this year from January to October a total wholesale sales of 146,400 units, down 31.9 percentage.
Written in the last:
Therefore, as a whole, the public Motors currently encountered situation is not the decline in sales, the decline in performance, continued losses so simple. From litigation in the amount of 616 million yuan, we can dig it has faced doubts about the future development of new energy vehicles in question. The parent company of Zotye automobile business has also undergone a significant decline in losses.
hope in AFC Telford United’s public business, Ford’s performance in the Chinese market also suffered a significant problem that requires further pick up time. In other words, the current public Motors has been plunged into a critical situation, Benevolence, are full of problems.