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Weima Sichuan Company changed its name!

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

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AutoBeta(AutoBeta.net)12/27 Report--

According to the national enterprise information publicity system, Weima Automotive Technology (Sichuan) Co., Ltd. has undergone an industrial and commercial change, and the enterprise name has been changed to Sichuan Shitongda New Energy Technology Co., Ltd.

Data show that Weima Automotive Technology (Sichuan) Co., Ltd. was established in February 2018, the legal representative and chairman is Mao Qi, with a registered capital of 520 million yuan, and its business scope includes technical design, research and development, sales and after-sales service of new energy smart vehicles, vehicle manufacturing, production, sales and after-sales service of related auto parts, etc. It is now jointly owned by Mianyang Anzhou Investment holding Group Co., Ltd., and Weima Automotive Technology Group Co., Ltd., of which Antu Group holds 67.31% of shares and becomes the largest shareholder of Weima Sichuan Company.

Antu Group is jointly owned by Mianyang local state-owned enterprises and Sichuan Provincial Finance Department, which also shows that Weima Sichuan is controlled by local state-owned enterprises. For the relevant industrial and commercial changes, the industry interprets it as state-owned investment to rescue Weima's predicament. It is understood that the cooperation between Weima and Mianyang began in March 2019, when Weima signed a project with the Mianyang government to announce the establishment of an autopilot demonstration industrial park and the establishment of an autopilot technology center in Mianyang to speed up autopilot research and development, while releasing the Living Pilot Zhihang auxiliary system.

As one of the key projects to attract investment in Mianyang City, Weima self-driving demonstration Industrial Park plans to invest a total of 20.2 billion yuan to build a project with an annual output of 300000 new energy passenger vehicles, which will have the ability to design, trial and test new energy vehicles, and strive to create a leading trial and production center in China to provide strong support for the manufacture of better product R & D and testing. However, Weima currently has vehicle production bases in Huanggang, Hubei and Wenzhou, Zhejiang. According to the current sales scale of Weima, there is no need to layout a new production base in Mianyang.

Founded in 2015, Weimar was once praised as the most pragmatic new car-building force. Weimar is basically as well-known as Weilai and Xiaopeng, and has a more solid foundation than other peers. More importantly, Weima is the first new car-building brand to be completed and put into production. It has two major production bases in Wenzhou and Huanggang with a total production capacity of 250000 vehicles, and has more than 600 offline distribution stores in 211 cities across the country.

Since the beginning of the year, the Weima automobile factory has stopped production for a long time. Due to the long absence of work, a batch of machines may be scrapped, while employees can only get a basic salary of 1700 yuan a month to survive because of no performance, and finally have to leave. At the same time, because of the financial and debt crisis, Weimar's 4S stores across the country were widely closed, and dealers faced double difficulties because no consumers were willing to buy Weima models, and eventually had to switch to other brands. What is more important is that after-sale, the Weima car factory stopped production for a long time, coupled with the refusal to supply the Weima car due to arrears of payment, the arrival of Weima car parts will take several months, and car owners have to be careful when they drive the Weimar. If there is any carelessness, it will be difficult to maintain.

On October 9, according to the National Enterprise bankruptcy reorganization Information Network, Weima Automotive Technology Group Co., Ltd. applied for bankruptcy reorganization, and the handling court was the Shanghai No. 3 Intermediate people's Court. The next day, Weimar responded that the company had not filed for bankruptcy, but was undergoing a pre-restructuring in an attempt to introduce strategic investors through debt restructuring. It is understood that pre-reorganization means that before the debt enterprise enters the legal reorganization procedure, creditors negotiate with debtors, investors, and other interested parties on creditor's rights and debts and reach a draft reorganization plan, so as to save debt crisis enterprises.

To a large extent, car-building is a "money-burning game". Compared with the tens of billions of cash reserves of other new car-building powers, Weimar's "purse" is indeed too shrunk. Therefore, when the strategy of "trading losses for sales" did not work, and the superimposed listing plan was a long way off, Weima could only adopt a shrinking strategy, that is, internal layoffs and pay cuts and external reduced delivery. but this is a fatal blow to offline dealers, and this situation has greatly increased the pressure on store operation, even to the point where it is necessary to close the store and stop its losses. Some people in the industry believe that in the face of many problems to be solved, Weima's most important thing is to need sufficient funds to support its "survival" first.

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