On February 18, Gaohe held an internal meeting and announced that it would suspend production for 6 months from now on.
A few years ago, Gaohe has announced the postponement of the payment of January wages, the cancellation of year-end bonuses and salary cuts for all employees, of which the January wages will be repaid at the end of February.
Years later, it was reported that before March 18, the employees who remained in Gaohe only had basic salaries; Employees who remain on the job after March 18 can only receive the Shanghai minimum wage.
All kinds of news show thatGao He has come to the point where his life hangs by a thread.
As the first new power brand to be rumored to be in crisis in the new year, I believe that Gaohe will not beThe last one.
In considerationShould it not be saved?In addition, the proposition we should also think about is——
The historical mission of the new forces may have come to an end.
Before Gaohe, there were a number of new car brands on boardList of edges.
Among them, Singularity, Reading, Weimar, and Byton have all declared bankruptcy.
As for Skyrim, Aiways, Hengchi, Baoneng, Ziyoujia, etc., they have also come to the brink of life and death.
At present, some car companies on the verge of the first line are forced to leave the market before they are listed because of qualification problems.
Although some were once dazzling, they were also exposed to the problem of enriching their own pockets in the management, so they lost the trust of capital, so they went to the end of the road.
As for some of the ones that have not even appeared in the shadow of production cars, except for going through the motions in the capital market and leaving a lot of debt, there is no follow-up.
However, Gaohe is not like them.
In the past two years, Gaohe has delivered a total of about 10,000 vehicles, and although the volume is not large, its high-end brand positioning of 6.7 million yuan has still made a splash in the market.
If we compare it only with high-end brands and product personalities, Gaohe's performance cannot be said to be worse than AVATAR.
With the joint blessing of Changan, Huawei and CATL, AVATAR's volume does not rely on the luxury configuration of the CHN platform.
Rather, it is a preferential policy that has been vigorously promoted since last year.
Whoever dares to fight a ** war, who still has the ability to fight a ** war, this essence is backSpell Daddyon the point of origin.
It can only be said thatGaohe, who has made a name for himself, has lost to the general environment.
The biggest problem for new car brands isWithout self-hematopoietic ability, he can only burn investors' money all the time.
According to public data, in the first three quarters of last year, Xpeng's net loss exceeded 9 billion yuan, Weilai lost 15.5 billion yuan, and Leap lost 3.3 billion yuan.
At present, only Ideal has achieved profitability, and it has achieved profitability for four consecutive quarters, and has now completely erased the net loss since listing.
However, the burning of money by most of the new forces is still endless.
Therefore, whoever completes the listing first, or gets the ownership of big capital, can get more opportunities for trial and error.
For example, Xiaopeng has also had many problems such as product planning, channel disputes, and internal corruption, so it was forced to carry out a first-class reform.
Another example is NIO, NT2After the zero model was exhausted, it failed to improve the delivery performance, and the result of this market failure has long been determined.
But until now, they are still living better than Gao He.
In the final analysis, it is because NIO and Xiaopeng went public early and have the strong support of local capital that there are opportunities for trial and error.
On the contrary, the fatal wound of Gao He lies in,Failed to go public, without the continuous nourishment of big capital.
In June last year, Saudi Arabia's investment ministry signed a $5.6 billion deal with Human Horizons, the parent company of Gaohe.
However, according to Gaohe's internal disclosure, the investment was not in place, and the two sides only reached an investment intention.
This time, it can be said that half of Gaohe's financial road has been cut off.
As for the other half, it is inseparable from the local capital of Yancheng City, which is the key force that supports Gaohe's start.
In fact, behind every new force, there is basically relevant local capital.
It is worth noting that in the recent successful financing cases of new forces, it can be seen that -The figure of local capital is retreating, and the participation of foreign capital is becoming active.
The market is quietly rewriting.
Last year, Abu Dhabi investment agency CIVN made two strategic investments in NIO, totaling about US$3.3 billion.
As a result, CYVN became the largest shareholder of NIO, but Li Bin is still the actual controller.
In addition, not long ago, Anhui Energy Group, Anhui Traffic Control Group and NIO reached an agreement to invest in 1,000 battery swap stations in Anhui Province.
from 2020Invested in the owner,by 2024Infrastructure support,It can be seen that the blood transfusion outlet of the financier has shrunk.
Xpeng, for its part, reached an agreement with Volkswagen to develop a new model on the G9 platform, and the latter also acquired the Xpeng 4 for about $700 million99% equity.
At the same time, Xpeng has also released signals many times, in addition to joint procurement on the ** chain, it also hopes to have more in-depth cooperation.
This includes the expansion of the European market, and even more equity transactions.
In addition, last year, Stellantis acquired about a 20% stake in Leap for 1.5 billion euros.
In addition to winning two seats on the board of directors of Leaprun, Stellantis has also mastered the export and sales business of Leaprun in other markets around the world except for Greater China through a joint venture company called "Leaprun International".
Now who is the father and mother, it is obvious.
In fact, Chinese automakers are no strangers to international mergers and acquisitions.
As early as the first decade of the 21st century, that is, around the time of the 2008 financial crisis, Chinese car companies have established relationships with a number of international brands.
At that time, SAIC acquired South Korea's Ssangyong and some of the assets of Rover in the United Kingdom, and NAIC won the MG brand, and soon SAIC also completed the share exchange acquisition of NAIC.
In addition, Geely acquired the British Manganese Copper Taxi Company, the Australian DSI transmission company, and the Volvo brand owned by Ford in the United States at that time.
Almost 20 years later, international mergers in the automotive industry are still taking place, but the roles of investors and investees have changed.
This time, it was the Chinese car companies that were taken down.
At the moment, who has a business crisis?
Who has the ability to invest with financial leverage?
The answer is imminent.
The automotive industry, which is the backbone of the country's economy, has seen a wave of "reverse joint ventures", in which the value of the acquired companies cannot be denied.
However, the economic signals behind this cannot be said to have no characteristics in common with those of the United States around 2008.
It is also this kind of economic signal that has led to the tightening of monetary measures by the largest financiers of the new forces, thus giving room for foreign capital to enter the market.
On the positive side, the car companies that are currently owned by foreign capital are all new power brands.
As for the main foundations like Geely, BYD, and SAIC, they have not been shaken, and they are still steadily improving.
What is thought-provoking is that in the past few years, the new forces have broken ground with the momentum of not being afraid of calves, and they have made no secret of their ambition to change the industry.
But now, firstAbandonedmay also be a new force.
The emergence of new forces is born on the basis of concepts, enthusiasm, and investors' money.
The survival of the new forces is to live by burning the money of investors.
Among them,InvestorsThe role is the core.
And the new forces that emerged after getting the investment, are they more due to the ability of entrepreneurs, or should they be grateful for the opportunities of the times?
In the "Automobile Industry Adjustment and Revitalization Plan" released in 2009, the state clearly launched a subsidy demonstration project for the development of new energy vehicles.
In thisThe first year of China's new energy vehicle developmentBy 2011, the company plans to produce 500,000 electric vehicles a year, with new energy vehicles accounting for 5% of total passenger car sales.
In 2010, China kicked off the prelude to subsidies for private purchases of new energy vehicles, with a maximum subsidy of 50,000 to 60,000 yuan for individuals, and the first implementation time was set from 2010 to 2012.
However, by 2012, 25 new energy vehicle pilot cities in China promoted a total of 2More than 70,000 vehicles, including 2 in the public service field30,000 vehicles, and only more than 4,000 cars purchased by private individuals.
This kind of cool results in exchange for real gold has once again pushed the topic of developing new energy vehicles into controversy.
It was the new leadership team that came to power in 2013 that finally ended the debate.
The new leadership has chosen to promote the energy technology revolution and complete industrial upgrading in order to grasp new development opportunities.
Among them, in addition to firmly developing the pure electric drive strategy, it is also necessary to solve two practical problems
The industrialization of electric vehicles, as well as the elimination of local protectionism.
In the past new energy vehicle subsidy policy, the main buyers were taxis, buses, and city bus companies in the public transportation system, so the localism was particularly strong.
In addition, in the "New Energy Vehicle Promotion Catalog" at that time, different places required:
Any model that is not included in the local promotion catalogue will not be eligible for local subsidies.
At that time, BYD also had no choice but to express its positionIf you don't build a factory in the local area, you won't be able to enter the market at all. 」
Solve deep-seated contradictions and problems, and turn to the industrialization of enterprises as the main body of innovation, as well as give full playA new automakerThe need for the catfish effect is imminent.
Among them, the Tesla Model S, which was launched in China that year, has received special attention from the leadership.
Under the reform led by the new leadership, in July 2014, the relevant departments issued a new policy for the promotion of new energy vehicles
It is clarified that all localities shall implement the national unified new energy vehicle promotion catalog, and shall not adopt the formulation of local catalogs.
Later, we also saw that new car manufacturers have obtained electric vehicle production qualifications, and local protection has been transformed into local capital support.
Through the empowerment of capital and the kinetic energy of entrepreneurs, new power brands have emerged in various places.
In the new forces,Hefei + NIOThe case is a typical model under the new *** system.
After Hefei became the owner of NIO, thanks to the profits in the capital market, this move fed back to the local electric vehicle industry investment.
Among them, the public's continuous increase in investment in Hefei is the most obvious.
In the latest ** report, it can be seen that Hefei is no longer low-key, and it is clear that it will make every effort to build a "new energy vehicle capital".
Based on such a win-win case, it can be seen that the local government has won capital and industrial investment, and the new enterprises have also been supported by development forces.
But a win-win can only ensure the opening, not the ending as a win-win.
From the perspective of blood relations, the new forces are not ordinary central enterprises and state-owned enterprisesPro-son .
In terms of strength and scale, the new forces are not as good as large private enterprises such as Geely and BYD that have the ability to realize the will of the country.
From the perspective of origin, the new forces are more of a new opening to break down localism.
Therefore, each place needs to be responsible for its own investment and the survival of the new brand it has single-handedly held.
At the national level, after the emergence of a new wave of forces, through exertionLocal + CorporateThe industrialization of electric vehicles has truly completed the landing on the land of China.
In this way, the national strategy of energy revolution has been truly realized.
Up to now, the leading car companies led by BYD have climbed the domestic passenger car sales crown.
At the same time, German car companies led by the Volkswagen Group are also willing to follow the investment and invest in the wave of electric vehicles.
In addition, the retail sales of new energy vehicles in China reached 773 last year60,000 units, five times the sales volume in the U.S.
To know inAccelerate the development of new energy vehicles in the first yearIn 2014, China lagged behind in NEV sales at that time.
Obviously, after 10 years, the energy revolution and industrial overtaking promoted by China are on the right track.
It can be said thatNow the historical mission of the new forces has been accomplished.
At this time, it is also from the stage of capital investment to the cruel choice of the market
If there is not enough self-hematopoietic ability, the new forces were born out of whose money they got at the beginning, and they will die because they can't get anyone's money now.
Refer to the speech of Chen Qingtai, chairman of the 2015 Electric Vehicle 100 Association:
Entrepreneurs entrepreneurs invest their real money, and it may have all kinds of ideas, which should be said to be rational. 」
It is with their own dedication that they are accelerating the exploration process, including technological innovation, product definition, business model, financing model, etc., and dedicating new sparks through trial and error. 」
Investors make their own decisions at their own risk, build a good market platform, assume the role of gatekeeper, and create a dynamic and orderly competitive market. 」
Most of the entrants may be eliminated, but they can't help but be given a chance. 」
In the past 10 years, the opportunity has been given, the money has been in place, and the industrialization of electric vehicles has been completed.
In the past 10 years, some new forces have failed to seize the opportunity and have repeatedly lost all their money.
So, whether the investors behind it will continue to transfuse blood and how much they can give can only depend on fate.
At present, when encountering a new force that is not doing well, it may not be easy to count on another white knight to come to the rescue.
Restrictions on fiscal capacity and stricter financial supervision are unavoidable realities.
But the outcome of the elimination has long been written into the rules of procedure.
In the next few years, will the new forces complete the disruption of the industry, or will the traditional brands regain the market focus?
The answer may not be so difficult.
February** Dynamic Incentive Program