Lv Chi Auto sold itself to Henan SDIC, becoming the first "out" among the new forces of car making?

After two years of decline in the auto market, the auto market in 2020 will be even more difficult. A sudden epidemic broke the original plans of many car companies and accelerated the elimination of traditional car companies that have been struggling in the third and fourth lines. Similarly, the new forces of making cars have also experienced difficult times.

Recently, "China Auto Watch" learned exclusively that due to poor management and broken capital chain, Lv Chi Auto, as a new force in building cars, has "sold itself". And this month, the equity change has been completed, and Henan SDIC Enterprise Management Co., Ltd. (hereinafter referred to as Henan SDIC) officially entered the company, holding 60% of the shares and becoming the actual controller of Lv Chi Automobile. The company name was also changed from Lv Chi Automotive Technology (Shanghai) Co., Ltd. to Lv Chi Automotive Technology Group Co., Ltd. (hereinafter referred to as Lv Chi Automobile).

Transfer 60% equity.

According to Tianyancha, Shenzhen Jiuzhou Huilian Investment Management Co., Ltd. is the sole shareholder of Lv Chi Automobile, with a registered capital of 654.38+03 billion yuan and a controlling interest of 654.38+000%. On March 6, 2020, Lv Chi Automobile completed the equity change, and the investor added Henan Guotou Enterprise Management Co., Ltd., with a registered capital of more than 2 billion RMB, and obtained 60% equity, becoming the actual controller of Lv Chi Automobile and officially changing its name. SDIC, a native of Henan Province, is the owner of Lv Chi Auto and the first state-owned enterprise in the new force of making cars.

The 20 19 automobile market has not recovered from the negative growth of 20 18, and many automobile enterprises have experienced an extremely difficult battle, which is particularly obvious for the new forces making cars. New energy subsidies in the external environment are declining, financing is getting colder, and traditional car companies are constantly launching new products, and the competition is becoming increasingly fierce. Problems such as products, services and cash flow within the enterprise also make the goal of "living" extremely difficult.

For the new car-making forces, only by obtaining funds to "return blood" can they really "live", but for Lv Chi Auto, it is obviously not one of them.

20 18, Wang Xiangyin, then co-founder and CEO of Lv Chi Automobile, said that Lv Chi Automobile will obtain the qualification of building a car in parallel through three channels: joint manufacturing (OEM), independent declaration and qualification purchase.

Lv Chi Automobile also announced to the media in June 20 18 that Lv Chi Automobile will launch three platforms named CC, M and S in the future, and launch new products at the speed of launching a new car in half a year, and launch the first compact SUV model in June 20 19. In May last year, Lv Chi Automobile announced that it would cooperate with Changan to use the idle production capacity of Changan Suzuki, which had already withdrawn from China, to do OEM work for Lv Chi Automobile, which made people feel that the new car is promising, but it has not been reported so far. And there is no news about the B round of financing. Faced with such a cruel situation, Lv Chi Auto can only "sell" itself to state-owned enterprises.

Has it been shuffled?

According to the data, Lv Chi Automotive Technology Group Co., Ltd. was established in August of 20 16 with a registered capital of13.5 billion yuan. Its business scope includes technology development, technology transfer, construction and operation of charging and replacing facilities for new energy vehicles, import and export of goods and technologies, and automobile sales.

Wang Xiangyin, founder and CEO of Lv Chi Automobile Group, worked in Foton Motor Group from June to July, 199. During the period of 17, Wang Xiangyin successively served as executive deputy general manager of Foton Motor and general manager of overseas business department, deputy general manager of Foton Motor and general manager of marketing company. Later, after leaving Foton Motor on 20 16, Lv Chi Motor was established.

However, from 2065438 to March 2009, the senior management of Lv Chi Automobile changed. Wang Xiangyin, former CEO of Lv Chi Automobile Group, submitted his resignation to the board of directors. Ren Yahui, former executive vice president of Lv Chi Automobile Group, succeeded Wang Xiangyin as CEO of Lv Chi Automobile and became the actual controller of Lv Chi Automobile.

As a member of the new car-making force, Lv Chi Automobile can be said to have experienced all the obstacles of the new car-making force: in 20 18, Lv Chi Automobile experienced several twists and turns, first breaking up with Italian I.DE.A, and then staged a "breaking up" drama with Zhongneng's major shareholder, which was exposed to illegal fund-raising through the sale of "original shares"; Later, some netizens posted on the Internet that Lv Chi Auto had been in arrears for several months and the capital chain was broken. The most important thing is that its products are still in the trial production stage and have not been listed.

At the same time, there was media exposure last year. Lv Chi Auto is expected to invest 5.5 billion yuan. From June 22, 2008 to now, the production base of 200,000 new energy electric vehicles built in Jiujiang, Jiangxi Province is still in the state of leveling the land, and there has been no progress so far.

A person close to Lv Chi Auto told China Auto Watch that since the beginning of this year, the related business of Lv Chi Auto has basically stopped, and the internal core team has been in a state of dissolution. After being controlled by the state-owned assets of Henan Province, the core team has been "out".

As for Changan, as a foundry, China Auto Watch also asked relevant personnel about the next progress, but Changan Automobile declined to comment on this news.

The insiders believe that Lv Chi Automobile has lagged far behind its competitors in financing progress, production qualification, new car research and development, and actual delivery time. Coupled with the gradual decline of new energy subsidies, these factors are very unfavorable to the prospects of Lv Chi automobile. Although Henan's state-owned assets entered the company, the core team was dissolved, and the production car was delayed. Lv Chi Auto can be said to be the first "going out" among the new forces of car making.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.