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Stop work and stop production! A huge amount of money is in arrears! A new force is sued by the supplier

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


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On June 27, Harbin Dongan Automobile Power Co., Ltd. (hereinafter referred to as "Dongan Power") issued a notice saying that on March 14, 2023, the company filed a lawsuit with the people's Court of Harbin Cottage District, requiring Tianji Automobile (Changsha) Group Co., Ltd. (hereinafter referred to as "Skyline Automobile") to pay the company's arrears. After suing, the company applied for property preservation to the court of first instance. At present, the court of first instance has taken measures to preserve the corresponding assets of Skyline Motors, and the company has requested the court to order Skyline Motor to pay 16.1123 million yuan to the company and bear the interest of delayed payment.


Tianji Automobile (Changsha) Group Co., Ltd. was established in September 2018, formerly known as "Changsha Electric Cafe Auto parts Manufacturing Co., Ltd.". As a new high-end car brand of the company, "Tianji ENOVATE" was launched in July 2018 and unveiled its first new car-Tianji ME7 in November 2018. In May 2019, the electric coffee car changed its name to Skyline Motor. In July 2021, the second production car, the Skyline ME5, went on sale.


At present, there are two models on sale, namely, the add-on compact SUV-- Skyline ME5 starting from 138800 yuan, and the pure electric medium-sized SUV-- Skyline ME7 starting from 238800 yuan. However, Skyline has not released its delivery volume since it was delivered in mass production, but relevant data show that total Skyline sales in 2022 were 5321, less than the monthly sales of the new car-building power.

Although sales are not good, Skyline Motor has set up two complete vehicle factories in China. The first factory is located in Shaoxing, Zhejiang Province. the project covers an area of 1000 mu, with a total investment of 5.5 billion yuan and an annual production capacity of 180000 vehicles. The second plant, located in Changsha, Hubei Province, was put into production in June 2021. It mainly produces ME5 models and has a designed annual production capacity of 60, 000 vehicles.


According to sales projections, Skyline has a serious problem of overcapacity at its factories, but even under such circumstances, Skyline is still pushing for the construction of overseas plants. In December 2022, Skyline announced the establishment of a joint venture with Saudi local Sumou Holding to jointly invest about 500 million US dollars in two phases in Saudi Arabia to set up a manufacturing and R & D base for new energy vehicles, with an annual production capacity of about 100000 new energy vehicles.

After entering 2023, the life of Skyline Motor is becoming more and more difficult. In April this year, Skyline issued a notice saying that due to the company's financial situation and production and sales plans, some of the company's positions will be suspended from 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. According to employees, Skyline has not yet resumed production, and most employees have to leave in order to survive.



In mid-March, the media reported that Skyline was recently promoting a new round of financing to promote the resumption of work and production. However, as of press time, Skyline Motors not only did not disclose a new round of financing, but was in the predicament of suspending production. According to SkyEye, Skyline Motor has raised a total of more than 10 billion yuan since its inception, with the largest financing in October 2020, when the company completed more than 5 billion yuan of financing from local government industry guidance funds and large state-owned banks.


Since 2023, there will be a price war in the automobile market, and the intensity of competition will increase, which will set off a new round of elimination. In the current market environment, it is not easy for Skyline to obtain financing, especially in the context of the current quarterly volume of the new energy vehicle market, it is particularly cautious about investing in new energy vehicle brands, and compared with other new power brands, Skyline is lack of market scale, coupled with the suspension of production, the rest of the day may be more and more difficult.

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