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Three land use rights of Baoneng Automobile in Guangzhou have been cancelled!

2024-07-14 Update From: AutoBeta autobeta NAV: AutoBeta > News >


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On October 8th, Guangzhou Municipal Bureau of Planning and Natural Resources issued a notice on the cancellation of Guangdong (2019) Guangzhou Real property Rights Certificate No. 06860477. According to the notice, because the land use right holder failed to apply within the time limit, the registered item shall be cancelled according to the relevant laws and regulations, and the "immovable property right Certificate" notice of Guangdong (2019) Guangzhou fixed property right No. 06860477 will be invalidated.


The notice also shows that the land located to the south of Guanghe Expressway in Huangpu District and west of Kowloon Avenue has received the "fixed property right Certificate" of Guangzhou Real Estate No. 06860477 in the name of the land use right holder (2019). The registration number is 2019 Registration 11860750.


According to reports, the above three plots of land were previously auctioned by Guangzhou Baoneng Automobile Co., Ltd.

In March 2017, Yao Zhenhua, chairman of Baoneng Group, cut into the car track from real estate, and then established Baoneng Motor. In April of the same year, Baoneng Group signed cooperation agreements on major industrial projects with Huangpu District and Guangzhou Development Zone, and decided to lay out Guangdong-Hong Kong-Macau Greater Bay Area headquarters, new energy vehicles and innovative value Park projects in the area. In September of the same year, Guangzhou Baoneng Automobile Co., Ltd. was registered and established in Zhongxin knowledge City, Guangzhou Development Zone. In October of the same year, Guangzhou Baoneng Automobile Co., Ltd. won the JLZL-B-1-1 industrial land south of Guanghe Expressway and west of Kowloon Avenue for 220 million yuan, covering an area of 257000 square meters and a construction area of about 825000 square meters. At the end of the same year, in the knowledge city south of Guanghe Expressway and west of Kowloon Avenue, the construction of Guangzhou Baoneng New Energy Automobile Industry Park officially began. In April 2018, Guangzhou Baoneng Automobile Co., Ltd. won the development zone JLZL-B-1-2 with a base price of 170.48 million yuan, with a land area of 229600 square meters, equivalent to a floor price of 248yuan per square meter. In May 2019, Guangzhou Baoneng Automobile Co., Ltd. won the plot JLZL-B-1-3 north of Guangshan Road and west of Kowloon Avenue for 480 million yuan, covering an area of 508000 square meters. The above three sites are all "category II industrial land".


Data show that the total investment of Guangzhou Baoneng New Energy Automobile Industry Park is as high as 30 billion yuan, and it was planned to produce new energy passenger cars. when fully completed, it will become the only production base of high-end new energy vehicles under Baoneng Automobile Group, with a planned annual production capacity of 1 million vehicles, the first phase capacity of 500000 vehicles, and a production value of more than 100 billion yuan for the manufacture of complete vehicles and spare parts. The earliest project of the industrial park is scheduled to be completed and put into production by 2020, followed by a slowdown in construction due to various factors, and it was reported that it was about to be completed in 2022.

Since 2017, Baoneng has won 13 cases of land, more than 9000 mu of car-building bases and project land in Guangzhou, Kunming, Hangzhou, Guiyang, Xi'an and Kunshan. In September 2022, Baoneng Group announced on its website that it had laid out seven vehicle manufacturing bases across the country, with a standard production capacity of 930000 vehicles, with a long-term production capacity of 3 million vehicles a year, and estimated production and sales of 300000 vehicles in 2023. And sprint to achieve the goal of producing and selling more than one million vehicles in 2026.


Since entering the automobile industry for more than 5 years, Baoneng has invested 53 billion yuan. Unfortunately, Baoneng, which has invested heavily in the automotive business, has not yet made any profit. Although it owns three major passenger car brands: BAO, Qoros and au Poly, there are no mass-produced cars so far, and the overall business is stagnant, or even large-scale wage arrears.

Up to now, Baoneng Automobile has not been produced in all factories. In April 2022, the Yunnan Provincial Development and Reform Commission announced that two investment projects, "Kunming Baoneng New Energy Automobile parts production Project" and "Guanzhi Automobile Co., Ltd. (Kunming) Branch Construction Project", had not been started for two years. In June 2023, Xi'an Automobile Base was also cancelled. In August, three sites (323669.6 square meters) of Kunshan Ju Innovation Energy Technology Co., Ltd., owned by Baoneng Automobile, and unlicensed buildings, machinery and equipment were successfully auctioned at a price of 610 million yuan. The bidder is Kunshan Industrial Development Investment Co., Ltd.


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 caught in a quagmire in many ways, has shown signs of fatigue. In the middle of last month, it was reported that Baoneng had paid tens of millions of dollars to suppliers to build cars and planned to produce 20,000 new cars by the end of the year. Zhang Ming (a pseudonym), a former Baoneng executive who spoke on condition of anonymity, said: "I'm afraid Baoneng is building a car in a 'show'! The essence seems to be to encircle the land with money. "

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