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20,000 cars will be produced by the end of the year! It is exposed that Baoneng Automobile pays tens of millions to build cars.

2024-02-24 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)09/22 Report--

The Baoneng car with chicken feathers has ushered in a new move.

Baoneng paid tens of millions of dollars to suppliers to build cars and plans to produce 20,000 new cars by the end of the year, the Daily Business News reported. According to the report, Zhang Ming (a pseudonym), a former Baoneng executive who spoke on condition of anonymity, said: "Baoneng is probably 'performing' building a car!" The essence seems to be to encircle the land with money. "

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A few days ago, some media reported that Baoneng recently launched a recruitment exercise, promising that the salaries of newly recruited employees could be paid normally. Once the salary was paid for half a month first, insiders confirmed that the recruitment had begun. However, it is uncertain whether the "half-month salary in advance" requirement can be implemented. Inquiring about a recruitment platform, it can be seen that Baoneng still has a number of recruitment messages in Xi'an and Shenzhen, including strategic planning manager and big data development engineer. Some netizens pointed out that this may mean that Baoneng will start building cars again.

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However, Zhang Ming (a pseudonym), a former Baoneng executive who spoke on condition of anonymity, revealed that Baoneng did not really want to build a car at this time, but just wanted to set up a team to carry out a "performance" of building a car. For this "show", since the Spring Festival this year, Baoneng has paid tens of millions of yuan to travel suppliers for preparatory work on auto parts, and recently paid at least 30 million yuan.

In fact, whether Baoneng starts building cars or not, today's Baoneng cars are almost in a state of chicken feathers.

The Daily Business News reported that at present, the wages of many Baoneng employees are still in arrears, and at the headquarters of Baoneng Group, former Baoneng employees often come to ask for an explanation. Wang Dong (a pseudonym), an employee of Baoneng Automobile, who spoke on condition of anonymity, said: "Baoneng still owes me millions of yuan and has not been paid so far." Another employee said that by early April this year, Baoneng had involved 5659 people who owed wages, with a total arrears of wages of about 130 million yuan (including compensation of about 25 million yuan), social security arrears of about 91.8 million yuan and provident fund arrears of about 62.72 million yuan. Zhang Ming (a pseudonym) mentioned above pointed out: "the amount of wages owed by Baoneng is not the 130 million yuan circulated on the Internet, the longest period of arrears is about 19 months, the number of people in arrears is huge, and I am afraid the amount of wages owed is even higher."

In addition, due to Baoneng's inability to pay wages, some employees have chosen to resign in the past two years, and some employees have even adopted extreme ways to protect their rights to ask for wages. A former Baoneng employee who left in the second half of 2021 said: "there is no news about the salary of more than a hundred thousand yuan so I should not get it." What worries me even more is that social security and provident fund have not been paid. " It said there was a problem with Baoneng's capital chain as early as June 2021, when wages began to be abnormal.

As a matter of fact, Baoneng has a long history of arrears of wages. As early as 2021, Baoneng Automobile was exposed for many problems, such as factory shutdown, layoffs, severed employees' social security, shop closure and many other problems. since then, the social security incidents of unpaid and severed employees have also been exposed one after another, and even caught up in a liquidity crisis. In order to alleviate the financial problem, Baoneng Group also sold assets to "replenish blood", but it is only a drop in the bucket for Baoneng Automobile, which is in a financial crisis.

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As for why Baoneng suddenly "recruits" recently, a Baoneng HR said that the recruitment is to promote the mass production of the A3. To this end, Baoneng does not hesitate to pay tens of millions of yuan to upstream suppliers to prepare for production. It is understood that this production is under preparation.

In February this year, nearly 400 people, including Yao Zhenhua, chairman of Baoneng Automobile, Xing Ze, CEO of Baoneng Automobile, and all employees of Baoneng Automobile headquarters, attended the 2023 construction meeting. Lu Xingze said that this year is a critical year for Baoneng Automobile, fully ensuring the mass production of three key models of A3, GX16 and A6, and taking the first car of DS05 off the line this year. Yao Zhenhua said that the whole vehicle project should speed up the release of production capacity, and the A3 model of au Poly is the top priority in the business plan.

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According to the previous report of Automotive concern, Baoneng has three major passenger car brands: BAO, Quan Zhi and au Poly, but BAO and au Poly have not yet achieved mass production and listing, and the overall business is stagnant, and there are large-scale wage arrears. The brand's first model, the A3, which focuses on small electric cars, was first unveiled in September 2022. In December, Baoneng revealed that the A3, which has received 10,000 orders, will be fully mass produced at Baoneng's Xi'an plant and is scheduled to be delivered to the market in the first quarter of 2023.

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According to Yao Zhenhua in February this year, the A3 model will be a top priority in the business plan. But a few months later, there was hardly any mass production of the A3 on the market. In addition, Baoneng's Xi'an plant was cancelled in June this year.

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Before that, in April this year, a Burberry dealer told Caijing: "in October last year, the business of Baoneng Automobile came to me and introduced me to be a distributor of A00-class car, saying that it could be sold. I made a 200000 deposit. In December, Baoneng said that it would be produced soon and asked for taxi payment. I called hundreds of thousands more. But the time of production has been dragging on, saying that the Spring Festival is over before the Spring Festival, February after the Spring Festival, February and March, until April, and there is no sign of production. " At the same time, more than 100 dealers across the country have made no mention of taxis, with payments ranging from hundreds of thousands of yuan to more than 1 million yuan, according to several Burberry dealers. In April, dealers from Shandong and Henan went to Shenzhen Baoneng Automobile Group to make an "important statement", which had not been resolved as of press time.

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At present, Baoneng's overall business has reached a stalemate, and even though Yao Zhenhua has not given up his hope of survival, Baoneng, which has been mired in many quagmire, has shown fatigue, coupled with the continued development of the auto industry and accelerated knockout stages. It is not uncommon for people who are left behind and out. Under such circumstances, if Baoneng does not make substantial changes quickly, the rest of the day will only be even more difficult. Of course, if Baoneng pays its suppliers tens of millions to build cars and plans to produce 20,000 new cars by the end of the year, it may be a sign that Baoneng is improving to some extent, but judging from the current situation, there are still a lot of uncertainties about whether Baoneng can really build a car smoothly.

As of press time, Baoneng officials have not made any response to the above report.

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