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Stop work and stop production! A new force has been frozen 26.63 million RMB.

2024-03-04 Update From: AutoBeta autobeta NAV: AutoBeta > News >


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According to the information of Automotive Industry concern, Tianji Automobile (Changsha) Group Co., Ltd. (hereinafter referred to as "Skyline Automobile") added two pieces of equity freezing information, both of which were executed by Shanghai Electric Group Battery Technology Co., Ltd. the total amount of frozen equity is about 26.636 million yuan, and the freezing period is from May 16, 2023 to May 15, 2026, and the enforcement courts are all Shanghai Jiading District people's Court.

Tianji Automobile (Changsha) Group Co., Ltd. was established in 2018, the legal representative is Liu Yan, the registered capital is 620 million yuan, the paid-in capital is 600 million yuan, is an enterprise mainly engaged in automobile manufacturing. The equity penetration map shows that the company is jointly owned by a number of companies, of which Changsha Tianji New Energy Industry Investment Fund Partnership (limited partnership) has the highest shareholding ratio of 24.62%. Shanghai Electric Group Battery Technology Co., Ltd. was established in 2019, the legal representative is Xie Xueqiong, the registered capital is 135 million yuan, the paid-in capital is 80 million yuan, is an enterprise mainly engaged in research and experimental development. The company is jointly owned by Shanghai Electric Group Co., Ltd. and Tianji Automobile (Changsha) Group Co., Ltd., with a shareholding ratio of 55:45.


As one of the new car-building forces, Skyline Motor was exposed as early as two months ago that the factory had been shut down and its employees' wages would be paid according to the minimum standard. At that time, Skyline issued a notice saying that due to the influence of the company's financial situation and production and sales plans, some positions in the company have implemented the policy of suspending production and work since April 1, 2023. During the period of suspension of work and production, the social security of employees shall still be declared in accordance with the original base. However, after the first payment cycle, the relevant employees will pay living expenses in accordance with the local minimum wage until the company resumes production. During this period, employees can find new employment opportunities on their own and leave voluntarily.


Tianji car, formerly known as electric coffee car, was a sub-brand incubated within Letv automobile, which was established in 2015. In 2017, Zhang Hailiang, then CEO of Letv automobile, entered the electric coffee car and launched the first model, electric coffee EV10, which was regarded as the veteran brand among car manufacturers at that time, mainly focused on the mini electric vehicle market, although the price of electric coffee EV10 was less than 70, 000 yuan and had a price advantage in the car market. But at that time, the car market was facing the gradual decline of new energy subsidies and the intensification of the mini electric car market, so the electric coffee car began to turn to the high-end market.

In July 2018, ENOVATE, a high-end brand, was released. In March of the following year, "Zhejiang Electric Automobile Technology Co., Ltd." was officially changed to "Tianji Automotive Technology Group Co., Ltd.". However, the road of transformation of Skyline Automobile is not smooth.


At the Guangzhou Auto Show in 2018, Skyline's first production model, the Skyline ME7, was unveiled as a medium-and large-scale pure electric SUV. The car was originally scheduled for delivery in the first quarter of 2020, but several delays eventually went on sale in September 2020, priced between 21.88 yuan and 289800 yuan.


From its debut in 2018 to its release in September 2020, Skyline ME7, which took two years to appear on the market, finally failed to gain market recognition. At that time, there was news in the market that the delay in delivery of Skyline ME7 was largely due to lack of money. SkyEye survey information shows that since its inception, Skyline has raised a total of 9 times, with a total financing amount of more than 10 billion yuan, of which the largest public financing was obtained from local government industry guidance funds and large state-owned banks in October 2020. the amount of financing exceeded 5 billion yuan, but this year Skyline was successively exposed negative news such as layoffs, salary cuts, arrears of suppliers and other negative news. At that time, the senior staff of many key positions of Skyline Automobile left. Including Tianji Motor Co-founder and CMO Xiang Dongping, Zhao Huan, vice president in charge of public relations communication and digital marketing, and Yang Yanru, vice president in charge of sales, have left one after another. However, in the face of financial constraints, Skyline is still promoting the launch of new models. In July 2021, ME5, the second production car of Skyline, went on sale with a price range of 14.99-159900 yuan.


Compared with the new domestic car-making forces, Skyline's biggest advantage is that it has factories in Changsha, Hunan, Shaoxing, Zhejiang, and Nanning, Guangxi, with a total planned production capacity of 220000 vehicles, but there have been media reports that Tianji Automobile Shaoxing stopped production last year. Nanning factory and Qingdao factory have not actually put into production, that is to say, in fact, only Changsha factory is actually put into production. According to the news of the shutdown that was revealed before, it means that the national production base of Tianji Automobile has also been completely shut down.


On the sales side, although Skyline has two models, the pure electric car ME7 and the extended range hybrid ME5, its sales are far lower than those of Wei Xiaoli. New car traffic insurance data show that in 2022, Skyline accumulated sales of 5321 vehicles, less than "Wei Xiaoli" monthly sales, serious overcapacity. For comparison, the sales of ideal car, Xiaopeng car and Xilai car are 135300, 120400 and 120100 respectively.


In early March this year, Future Automobile Daily reported that Skyline would complete a new round of financing of 750 million yuan. "the money will arrive next Friday, March 24 at the latest," said a person familiar with the matter. " Another person familiar with the financing said it was true. "it is not convenient for the financiers to disclose at this stage, and the specific plan is under negotiation." But there has been no more progress on the news since then, and for now, Skyline is not doing well.

This year is regarded by the industry as the year of the knockout stage of the new energy track, whether it is the stall of the new force of head car-making or the shutdown of the new force of second-line car-building, more and more news is releasing that "car companies will face more pressure this year than ever before." This means that there is not much time left for the new car-building forces to "break through".

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