With Xia Yiping, CEO of Extreme Yue Automobile, acknowledging the financial problems faced by the company at an internal meeting, and the divestment of Baidu, the future of Extreme Yue seems to have been doomed. Many 4s stores are closed, and the delivery of new cars is delayed. It seems that it is only a matter of time before they fall down.
Xia Yiping, CEO surrounded by employees from Vietnam.
It is definitely not the first brand to fall, and it may not be the last one. In those days, "a hundred schools of thought contend" are few and far between. Let’s review the development history of new energy in China and see which brands have fallen on the road of overtaking in new energy corners.
The first bankrupt new energy brand: Yangtze River
Maybe you’ve never heard its name. But the Yangtze River car was still very serious. Full name of Changjiang Automobile: Hangzhou Changjiang Automobile Holding Co., Ltd. It used to be Hangzhou Bus Factory in 1954. They are one of the largest and earliest manufacturing bases of trams and their special chassis in China. In 2013, Li Ka-shing invested 5.1 billion yuan in Wulong electric vehicle, and the Yangtze River new energy vehicle was born.
As a brand that bought new energy roads very early in China, Changjiang set up companies and factories in Guizhou, Shenzhen, Chengdu and other regions in the early days of its establishment. In just three years, Changjiang Automobile launched four models, including Yiku, Yige, Yisheng and Yizhong. However, sales were less than expected, and new energy subsidies declined. In 2020, Changjiang New Energy Vehicle declared bankruptcy.
The most concerned new bankruptcy energy: Weimar
Weimar, as a frequent visitor to CCTV, had a good strength. Among the four brands of the former new forces, in addition to "Wei Xiaoli", there is Weimar. Weimar, established in 2015, has won the champion of bicycle sales of new forces, and even sold better than Wei Xiaoli. In 2020, Weimar’s cumulative sales volume exceeded 20,000 units, ranking fourth among the new forces in the country. Intelligent driving is also the key technology that Weimar has been working hard to study.
However, since 2022, Weimar has heard many negative news, such as salary reduction, rent arrears, and dealers quitting the network. Although Baidu, Tencent, Shanghai State-owned Investment Platform, SAIC, Sequoia China, hongta group and other groups jointly raised more than 35 billion yuan for Weimar, it did not change the ending of Weimar’s decline. Weimar filed for bankruptcy in 2023, and 110,000 Weimar owners still face after-sales problems.
New energy blackened by charging piles: land ark
Although you should not have heard of this brand, as a regular car company with a total investment of 10 billion yuan, it has gone from "Laotoule" to qualified production in just five years, and Land Ark is really capable. Its branches are also spread all over Beijing, Shenzhen, Shanghai, Foshan, Jiangsu and other places, and there is also a look of recruiting talents. However, in July 2018, a land ark in Shui Mu Huacheng Universiade charging station spontaneously ignited, which should be the first time that ordinary consumers have paid attention to the spontaneous combustion of new energy on a large scale since records began.
Since then, the land ark has been frequently and naturally blacklisted by many charging pile companies, coupled with the subsidy policy, and finally declared bankruptcy in 2021.
The worst new energy cheated: Jiangsu Sailin
An American lawyer with a Chinese face, in the name of building a car, cheated 5.6 billion and walked away. He is still at large, and the initiator is almost a white wolf with empty gloves. This is the story of Wang Xiaolin and Jiangsu Sai Lin.
There is a racing driver named Steve Saleen in the United States, who once set a world record for the speed of cars and founded his own sports car brand. However, due to poor management, it was closed down, and finally a man named Wang Xiaolin bought its right to use in China for 500,000 dollars. After that, Wang Xiaolin first talked about cooperation with the Ordos municipal government, but Hubei felt that this matter was not reliable and gave up. Later, Changsha also entered the negotiation table, but it was cancelled after a year of cooperation.
Finally, Wang Xiaolin found the Rugao municipal government in Jiangsu Province. At this time, the largest new energy automobile base in Jiangsu was completed, and there was a demand for performance, so the negotiations with Wang Xiaolin were extremely smooth. In addition, the launch conference of Sai Lin Bird’s Nest, which cost 300 million yuan, included Jason Statham, Wu Yifan, American Top Gear host Tanner Foust and many other stars. With a wave of his hand, major banks allocated Wang Xiaolin a loan of 2.3 billion yuan. In this way, Wang Xiaolin fled to the United States with huge sums of money and is still at large. Jiangsu Sailin, on the other hand, only produced such an electric car similar to "Old Man Le", which was more expensive than Song Plus DM-I..
Regardless of the success of overtaking in corners, there are 8 companies that have fallen on the road without 10. The icons that have been lit are also dimmed one by one, which is the cruelty of market competition. So who do you think will be the next new energy vehicle company to close down?
