New Year, New Atmosphere! This is true for Baoneng Group, and it is also true for China Evergrande.
On January 22, Baoneng Automobile held a new car tasting meeting, and two models of BAO and Qoros Automobile's C21 and other new energy models were unveiled.
On January 12, 10 days ago, Evergrande officially announced that the first car of Hengchi 5 rolled off the production line, which means that Hengchi entered the countdown to mass production.
Why did two famous real estate companies invariably transform the automobile industry and accelerate the pace of car manufacturing?
▌ Baoneng: Guangzhou state-owned assets have strategically invested in shares, and a number of models have been exposed for the first time
On January 22, Baoneng Automobile's new car tasting meeting was held in Guangzhou Baoneng Qoros Cultural Center. Including the luxury brand BAO's GX16 (internal code, the same below), GX18, and Qoros Auto's C21 and other new energy models have been exposed for the first time.
Yao Zhenhua, chairman of Baoneng Group, said at the new car tasting meeting that in the past year, under the guidance and support of the Guangzhou Development Zone Management Committee and the Huangpu District Government, Baoneng Automobile has achieved rapid development. At the beginning of 2022, Guangzhou Baoneng Automobile introduced the Science City Group and the Knowledge City Group of Guangzhou Development Zone into the strategic shareholding, and is currently promoting the research and development of new energy models, base construction, equipment introduction and other work at full speed.
Yao Zhenhua, chairman of Baoneng Group. Source: "China Baoneng" WeChat public account
At the same time as the new car debuted, guangzhou development zone science city group and knowledge city group have strategically invested in Guangzhou Baoneng automobile is undoubtedly heavy news. The blessing of local state-owned assets may add some chips to Baoneng's successful cross-border car manufacturing.
According to public information, after the completion of the latest equity change, Guangzhou Development Zone Construction Venture Capital Co., Ltd. and Guangzhou Knowledge City Investment Holding Co., Ltd., a subsidiary of the above-mentioned state-owned enterprise group in Guangzhou Development Zone, have become shareholders of Guangzhou Baoneng Automobile, holding 41% and 10% of the shares respectively; Guangzhou Baoyao, a subsidiary of Baoneng Automobile, holds 49% of the shares.
According to reports, GX16, the protagonist of the new car tasting meeting, is developed by Baoneng Automobile Guangzhou Research Institute, equipped with a power battery independently developed by Baoneng Automobile, which is a product witness of Baoneng's core competitiveness with key technologies.
As can be seen from the on-site pictures, the exterior design of the BAO brand model is full of advanced and fashionable scientific and technological style, and is full of luxurious and high-end design charm.
Regarding Baoneng's new car brand "BAO", perhaps many people do not know much, this is Baoneng's new brand officially released in June 2021, the English name "BAO". According to the plan, the BAO brand will launch at least 16 models in 5 years, including SUVs, cars, MPVs, sports cars and other models, gradually covering the high-end electric vehicle segment.
Baoneng Automobile new car tasting meeting site. Source: "China Baoneng" WeChat public account
According to Baoqi Group, GX16 will be put into operation at baoneng automobile guangzhou base, and strive to roll off the production line in July this year; the guangzhou base that undertakes the task of mass production has been rapidly promoted since the resumption of work in September last year, and the main construction of the steel structure of the five major craft workshops has been completed, and the goal of plant construction will be completed by the end of March this year.
Baoneng Group said that after 5 years of in-depth cultivation and continuous exploration, Baoneng invested 53 billion yuan in self-financing, harvested the vehicle manufacturing capacity, two core brands, five major research and development centers, seven major production bases, the initial formation of the innovative rainforest-style whole industry chain layout, and has independent technologies in key areas such as the three-electric system, automotive software, and intelligent driving of the core components of new energy, forming a first-class comprehensive competitiveness and becoming an important force on the new energy vehicle track.
▌ Evergrande: The first model was officially rolled off the production line, and it has accumulated 47.4 billion yuan of "burning money"
Coincidentally, another "real estate predator" China Evergrande's first model has also officially rolled off the production line a few days ago.
On January 12, Evergrande officially announced that evergrande auto Hengchi 5 first car has officially rolled off the production line, 12 days earlier than the original time. This is the first model launched by Evergrande Automobile, and the first car off the production line means that Hengchi has entered the countdown stage of mass production. However, another news said that Hengchi 5 is still in the small batch trial production stage, and now it is only the final assembly of the production line, and it is expected that the official mass production will wait until August this year.
Screenshot from Evergrande New Energy Vehicle Investment Holding Group Co., Ltd. official micro
On November 12, 2019, at the Evergrande Automobile Strategy Summit, Xu Jiayin first elaborated on Evergrande's car-making logic. More than two years later, its first model finally rolled off the production line.
According to the previous model planning of Evergrande Automobile, Hengchi 5 is positioned in an A-class SUV with a price of less than 200,000 yuan, and the NEDC cruising range exceeds 700 kilometers compared with Audi Q3, BMW X1 and other models.
Web pictures
According to Evergrande Automobile's previous planning goals, the company is committed to becoming the world's largest and strongest new energy automobile group, achieving annual production and sales of more than 1 million vehicles by 2025 and more than 5 million vehicles by 2035.
Evergrande Automobile's 2021 semi-annual report shows that the company achieved revenue of 6.92 billion yuan in the first half of the year, an increase of 53.5% year-on-year; the net profit attributable to the mother was 4.786 billion yuan. Evergrande Automobile's overall loss was 3.822 billion yuan, an increase of 96.25% year-on-year.
The speed at which car-making campaigns burn is unimaginable. Up to now, Evergrande Automobile has invested a total of 47.4 billion yuan in the new energy automobile industry. Li Bin, the founder of Weilai, once said that without 20 billion yuan, don't want to build a car. But Evergrande has already invested more than this amount.
▌ Real estate predators maintain their dreams of building cars, but the transformation is not easy
Judging from the new year and new actions, Baoneng is obviously determined to build cross-border cars.
Use soldiers to plan first. At the end of 2021, Baoneng Automobile announced that Mr. James Hope, a master in the automotive design industry, joined Baoneng Automobile Group as the head of BAO brand styling and the head of Shenzhen Styling Center. James Hope has worked for Ford, DaimlerChrysler and General Motors of the three major american automobile companies, and has also served as the global design director of Chery Automobile for many years, with an international vision and local success experience, and the industry experience is quite rich.
Evergrande also did not give up entering the automobile industry.
On the evening of January 23, 2022, China Evergrande announced that since January 23, Shaun has been appointed as an executive director, Liang Lin has been appointed as a non-executive director, and the former two executive directors of Evergrande have resigned.
The two new board members of Evergrande's board of directors are in addition to Liang Linlin, chairman of Cinda Hong Kong, an executive of non-performing asset disposal, and Shaun, the "boss" of China Evergrande's automobile sector.
According to the information, Shaun, who was appointed as an executive director this time, is the executive director and chairman of China Evergrande New Energy Automobile Group Co., Ltd., Evergrande Automobile, a subsidiary of Evergrande Group, and the executive president of Evergrande Group Co., Ltd.
Shaun's entry into the board of directors is undoubtedly related to China Evergrande's future emphasis on the transformation of the automobile sector, and also shows Evergrande's firm belief in the road of car building.
In October 2021, Xu Jiayin announced at the special meeting of Evergrande Group on the resumption of work and production that the decision to fully transform to new energy vehicle companies was made, and said that the sales of existing buildings would be fully implemented, the scale of real estate development and construction would be greatly reduced, and land would not be bought within 10 years, and at the same time, the transformation from the real estate industry to the new energy automobile industry would be realized within 10 years.
At present, new energy vehicles are still in the outlet. According to the statistics released by the China Association of Automobile Manufacturers on January 12, energy source vehicles have become the biggest highlight of the mainland automobile market in 2021, with annual sales of new energy vehicles reaching 3.521 million units, an increase of 1.6 times year-on-year, ranking first in the world for seven consecutive years.
Coveting this blue ocean, there are not a few cross-border car manufacturers, Xiaomi, Baidu, Huawei, Evergrande, etc. have entered the automobile market, but it seems that the development is not very smooth. The future of Baoneng and Evergrande, which is mainly engaged in real estate, is also uncertain, and it is bound to be extremely difficult to occupy a place in the new energy track.
Most importantly, whether it is the industrial chain, technology research and development or sales channels, Baoneng and Evergrande are new forces in the automotive industry. After the launch or rollout of the new model, will it be able to mass-produce smoothly? Is it possible to establish a smooth sales network? Do consumers buy it after going public? These are the most realistic considerations in front of the two "real estate predators".
Reading Chuang/ Shenzhen Business Daily reporter Zhu Feng
Edited by Shin Ka-yi
Editor-in-charge Zhu Feng
Producer Liu Zhu
Proofreader Sun Shijian
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