Zhongtai new energy vehicle research and development to ford Zhongtai new energy will no longer manufacture complete vehicles

On May 8, in the auto reply to the Shenzhen stock exchange in the inquiry letter, zhongtai auto, said zhongtai car, a subsidiary of the Thai new energy future will no longer engaged in pure electric passenger vehicle, subsidiary will be engaged in new energy automotive research and development, production, sales and marketing related work, new energy vehicle business will delimit the ford under the new joint venture.

It is learned that in November 2017, zotye and ford signed the "joint venture contract", and the two sides reached an agreement to set up a joint venture company engaged in the research and development, manufacturing, sales and service of pure electric passenger vehicles and their parts.

The company is jointly invested and established by Zhejiang zotye automobile manufacturing co., LTD., ford Asia Pacific automobile holding co., LTD., and ford motor (China) co., LTD., with a registered capital of 1.7 billion yuan.

As zotye new energy automobile co., ltd. transferred its complete vehicle manufacturing business of pure electric passenger vehicles to the new joint venture company, the funds raised by zotye new energy automobile project could not continue to be invested in complete vehicle research and development according to the original plan. Therefore, there was a big difference between the funds raised by zotye new energy automobile and the original plan.

In the reply of zotye auto, the auto prophet found that from 2013 to the end of 2017, zotye auto, the predecessor of the listed company of zotye auto, jinma stock and zotye auto after backdoor listing, raised 3.421 billion yuan through private share offering, including 2.213 billion yuan to be raised for the development of new energy vehicles.

In fund-raising plans to invest, pure electric vehicle r&d and equipment investment is 2.296 billion yuan, installation and debugging of the vehicle related r&d project investment is 1.804 billion yuan, Zhongtai, points out that to raise funds, will improve the new energy vehicle foundation and the key parts of scientific research, makes the new energy vehicle and parts products become the main growth point of Zhongtai automobile performance in the future.

But according to the Thai and ford, according to the joint venture contract signed Zhongtai brand pure electric passenger vehicle business will help ford in research and development, production, sales and management of advanced experience, to achieve rapid development, the new energy will no longer for pure electric passenger vehicle research and development related work, the future zhongtai brand new energy vehicles will borrow experience of ford's technology research and development, production and other work.

This means that the 2.296 billion yuan invested by zotye auto in r&d and equipment installation and commissioning of pure electric vehicles will not bring zotye auto actual profit and r&d income. In other words, zotye could lose some of the money it raised through its "" new energy story." "

At the beginning of 2017, the two major shareholders of the group, ying jianren and xu meier, raised funds through asset restructuring and issuance of supporting stock, which enabled zotye auto to complete the listing with the help of the shell of jinma shares, and opened the originally difficult financing situation with the new hyped concept of new energy vehicles, and transferred the financing pressure of jinma and tienu.

In the eyes of public opinion, the 2.213 billion yuan raised fund for the research and development investment and equipment installation and debugging of complete electric vehicles may have been sold and used for other purposes by zotye auto. After all, the predecessor of zotye auto, jinma stock, had the precedent of not raising funds and raising funds to supplement working capital.

In contrast, the disclosure of pure electric vehicle production planning, the new energy will no longer make the vehicle, for the auto, through some "copy" the thinking development of pure electric vehicles as a external force "once and for all", not only from the early high product research and development investment, also can pass the Zhongtai ford a "joint venture" identity bring good sales growth.

For ford motor, and the car new energy automobile manufacturing joint venture company, a joint venture can help to solve the dual integral ford gap, it is known that ford on the overall fuel consumption of integral, the first half of 2017 ford import and domestic models is still not up to standard, estimated annual mileage points around - 30 thousand times, and the next three years will continue to run in high level; In terms of new energy points, including ford China, changan ford and jiangling automobile, the range of points to be completed in the next three years is also between 900,000 and 1.3 million.

Ford can obtain double points through the joint venture of ford zotye, meeting the double points vacancy of ford in China. In the short term, the joint venture can indeed help ford overcome the difficulties of the "double points" policy. However, in the long term, the brand differences and different development ideas between ford and zotye may cause losses to ford's brand image.

The page contains the contents of the machine translation.