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519 million of Weimar's shares have been frozen!

2024-06-25 Update From: AutoBeta NAV: AutoBeta > News >

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Tianyan information shows that Wilmaster Automotive Technology (Shanghai) Co., Ltd. has added an equity freeze information. The company whose equity was executed is Weimar Smart Travel Technology (Shanghai) Co., Ltd., and the amount of frozen equity is more than 519 million yuan., the freeze period runs from May 14, 2024 to May 13, 2027, and the enforcement court is the Shanghai Financial Court.

Data shows that Wilmaster Automotive Technology (Shanghai) Co., Ltd. was established in June 2021 with a registered capital of US$600 million. It is a company mainly engaged in technology promotion and application services. Weimar Smart Travel Technology (Shanghai) Co., Ltd. was once known as Weimar Smart Travel Technology (Shanghai) Co., Ltd., and was established in December 2016. The legal representative is Weimar founder SHEN HUI (Shen Hui). The registered capital and paid-in capital of the enterprise are both RMB 689.149,813 million. It is an enterprise mainly engaged in professional technical services.

In fact, before this, many affiliated companies of Weimar Automobile had information on equity freezing.

As one of the first batch of "new force in car-building" brands in China, the early Weimar Automobile can be regarded as a top student of the new force in car-building. It not only has scarce car-building qualifications, but also has good ability to attract money, becoming the car company that has received the most financing among many new force brands can be said to be winning at the starting line, but even so, Weimar Automobile cannot escape the situation of life and death. Regarding the fall of Weimar Motors, the industry believes that it is related to its lack of product power, and the most fundamental reason for the lack of product power is insufficient investment in R & D.

As of now, Weimar Motors has four models on sale: EX5, W6, E.5 and M7, but they are almost in a situation of production and sales. Frequent information on equity freezes makes Weimar's future even more confusing. In the huge and turbulent new energy vehicle market, it is even more difficult for Weimar, which has been seriously "left behind", to regain the recognition of domestic consumers. At present, funds are undoubtedly the most urgent need to get out of the predicament, but funds are not Weimar Automobile's "death exemption gold medal." Nowadays, Weimar Automobile is already riddled with lawsuits. Even if it obtains a certain amount of funds, it will face many challenges, including difficulty in filling the capital hole, lack of core technology, and how to regain consumer confidence.

We have no way to know how Weimar Automobile will take in the future, but for Weimar Automobile, which is currently "living like an animal," there are not many opportunities for it to achieve a major reversal. If Weimar Automobile fails to produce products that are available in the future, it will only be a matter of time before they are eliminated even if they are financed.

At present, the last Weibo post on Weimar Automobile's official Weibo stays on January 3 this year. The content is that the Shanghai City No. 3 Intermediate People's Court accepted Weimar Group's pre-reorganization application, and there has been no update since then.

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