The "Revival Month" of the new car making force is coming
Gaohe Automobile, which was in deep trouble, suddenly came back to life.
On May 20, the reporter of Time Weekly learned from insiders of Gaohe Automobile that recently, the parent company of Gaohe Automobile, China Express, issued an internal announcement on the working group during the company's restructuring, and decided to establish a restructuring working group and a joint operation working group.
The Restructuring Working Group will be responsible for the restructuring of all operations related activities from equity, including four groups, namely, the East End Group, the Government End Group, the Supplier End Group and the Employee End Group; The joint operation working group is responsible for the daily decision-making and operation of the company, which consists of seven groups: product planning, project design engineering, production and supply chain, marketing, finance, legal affairs, human resources and comprehensive functions.
At the same time of promoting restructuring, Gaohe is about to receive the "life-saving money" urgently needed for the resumption of work and production.
According to insiders of Gaohe Automobile, a few days ago, Chinese Express signed a comprehensive strategic cooperation agreement with iAuto, an automobile investment consulting platform. iAuto plans to invest $1 billion in Chinese Express to fully support the plan of Gaohe Automobile to resume business operations and vehicle production.
According to the announcement of Zhengdao Group, a Hong Kong listed company, the core business of iAuto is the research and development, production, integrated sales and operation of clean energy vehicles and key parts. It has low-temperature controllable nuclear fusion technology, super drive system (with the efficiency of more than five times higher than that of traditional drive systems) and financial technology for automobile travel business.
An insider of Gaohe Automobile told the Times that at present, Gaohe Automobile has started to reorganize, and the company is very confident. As for the investment of iAuto, it will be reliable until $1 billion is actually received. Later, other investors will invest in Gaohe Automobile.
Dramatically, in May 2024, while Gaohe Automobile will regain its vitality, new forces such as Aichi and Reading, which were on the verge of exiting the market, will also show signs of recovery.
In the same month, many new forces have been revived. Although the road to revival is different, it is precisely this coincidence that makes people feel sorry for these enterprises who have experienced life and death.
Source: Tu Chong's creativity Gaohe and other new forces have been revived
May 2024 is an ordinary month, but it is significant for new domestic forces such as Gaohe.
On May 16, Aichi Auto finally ushered in the "life-saving straw". The reporter of Time Weekly learned from the insiders of Aichi Auto that Aichi Auto would be listed by merging with Hudson Acquisition Corp., an American special purpose acquisition company.
It is reported that Aiways Automobile Europe GmbH, the European company of Aichi Automobile, has signed a merger agreement with Hudson Acquisition I Corp. The merger is expected to be completed before December 31, 2024, and the valuation of this transaction for Aichi Automobile is about 400 million dollars.
Then, in May 2023, the "ancestor" of domestic low-speed electric vehicles, Redding, which had applied for bankruptcy review, suddenly received good news. An employee of Reading released a transport video of Reading, and added an article saying that "Reading is in hand, you can sell the car without worry, pay the money on the same day, and take it away on the same day." In this regard, the relevant person in charge of Reading told the media that Reading is in the process of inventory turnover.
In fact, the bankruptcy reorganization of Reading began in February 2024, and the People's Court of Changle County, Shandong Province ruled in accordance with the law to accept the reorganization of Reading Group Co., Ltd. On April 30, 20 affiliated companies including Reading Motor Corporation were substantially consolidated and reorganized.
In May 2024, Changle Court appointed Beijing Deheng Law Firm and Sichuan Discovery Law Firm as managers of 20 affiliated companies, including Reading Group, to prepare for the public recruitment of restructuring investors of Reading Group.
In addition, Gaohe, which started restructuring and signed a comprehensive strategic cooperation agreement with iAuto, and other new forces like Gaohe have turned May into the "Revival Month" of new forces.
Why the collective revival
Behind the collective revival of new forces such as Gaohe, the main reason is that each new force has different advantages in technology, brand power and market.
For example, Gaohe Automobile has been highly recognized by the market in terms of technological innovation and brand building, and its product positioning is relatively clear. Aichi Automobile focuses on the intellectualization and networking of its products to meet the needs of young consumers. Redding Auto is mainly aimed at the middle and low end markets, providing affordable electric vehicles.
More importantly, the common ground of new forces such as Gaohe is that they are committed to promoting the development of electric vehicles and have made certain achievements in technology research and development, brand building, market expansion, etc.
The above advantages and common ground urge the capital market to continue to pay for the new forces. Just a few days before the news of Aichi's backdoor listing in the United States came out, Polar Krypton had completed its listing on the New York Stock Exchange in the United States, raising about $441 million, making it the largest Chinese company to go to the United States for IPO since October 2021. On the first day of listing, the share price of Krypton soared by nearly 35%.
In the first quarter of 2024, the investment and financing heat of the new energy vehicle industry also slightly decreased. According to the statistics of Laimian PEVC, in the first quarter, there were 133 financing cases in the new energy vehicle industry (including automatic driving), up 3.9% year on year and 10.5% month on month, and the disclosed total transaction amount reached 16.73 billion yuan.
At the same time, the resurgent new forces are also facing financial pressure, market competition and other challenges, and need to constantly seek innovation and development.
Jiang Han, a senior researcher of Pangu Think Tank, told the Times that it is not easy for the new forces mentioned above to get out of the predicament. For example, Gaohe Automobile needs to solve the problems such as vague brand positioning, improper product strategy, increased capital pressure and internal management. These problems need in-depth analysis and effective solutions by the company.
Aichi, whose sales volume in the domestic market is bleak, has made a big bet on the overseas market, but the result is unknown. However, Redding Mango, which previously launched a micro pure electric vehicle, but failed in the battle with Wuling Hongguang MINIEV, will still face the challenge of shrinking space in the domestic micro electric vehicle market in the future.
This may lead to the shortening of the manufacturing window period of new forces such as Gaohe, which may be affected by market changes. From the perspective of market environment, with the continuous development of the electric vehicle market and the intensification of competition, new forces need to constantly improve their competitiveness to meet the challenges from traditional automobile manufacturers and competitors.
Jiang Han pointed out that from the perspective of policy environment, the government's support policies for new energy vehicles are also changing. If the policy environment is more favorable, the new forces may gain more opportunities and support. Otherwise, it may face greater challenges.
"New forces need to formulate clear development plans and strategies to make full use of their own advantages and resources, seize opportunities and meet challenges. If enterprises can formulate effective strategies and implement them, they are still likely to succeed in the car building window." Jiang Han said.
