The car exploded, and the CEO was surrounded by employees for salary.
Many people may not know that there is such a brand. This super car, formerly called "Jidu Car", was jointly established by Baidu and Geely.
What about the CEO? His name is Xia Yiping. This Xia Yiping was originally engaged in communication. After working in the communication industry for five years, I switched to the automobile industry and joined Fiat Chrysler and Ford successively, but none of them were well-known. What really made Xia Yiping famous was "mobike". You are right, Xia Yiping is one of the co-founders of mobike. Now, "mobike" has changed its name to "Meituan Bicycle" because it was acquired by Meituan for a sky-high price of 2.7 billion dollars.
If it hadn’t been sold to Meituan, with reference to ofo sharing bicycles’s fate, the "mobike" would have gone bankrupt in a high probability. However, after selling "mobike", Xia Yiping also successfully cashed in and realized financial freedom. After finishing bike-sharing, Xia Yiping devoted himself to new energy vehicles. However, this "super car" does not belong to Xia Yiping, he is the CEO, that is, the professional manager. The bosses behind him are Li Yanhong and Li Shufu.
There are only two major shareholders in Jiyue Automobile, one is Baidu, which holds 35% of the shares, and the other is Geely, which holds 65% of the shares. In other words, this is a new energy vehicle project led by Baidu. Many employees of Chaoyue Automobile blocked CEO Xia Yiping and asked Xia Yiping to take out his savings and pay social security to employees. In fact, he blocked the wrong person. Xia Yiping is also a part-time worker, just a senior worker. The real boss behind the scenes is Baidu Group. Xia Yiping was pushed out to top the pot.
Then why don’t Baidu and Geely stand up? Because the company is an independent legal person. Baidu, as the controlling shareholder, has a controlling stake in Jiyue Automobile, but it does not assume unlimited creditor’s rights. In other words, the employee’s salary owed by Extreme Yue Automobile should be paid by the account of Extreme Yue Automobile. For a long time, the ultra-Vietnamese car has survived mainly by blood transfusion from Baidu and Geely. But now, Baidu and Geely are unwilling to invest money or transfuse blood, so the car suddenly died suddenly overnight!
Then why don’t Baidu and Geely invest money? Let’s look at this separately. For Baidu, the car has lost hope. Its sales are so poor that the monthly sales are stuck between 1000 and 2000 vehicles for a long time. This data is not only ugly, but also ugly.
Think about it, LI sells 50,000 cars a month, Xpeng Motors sells 30,000 cars a month, BYD sells 500,000 cars a month, and the Excelle cars only sell one or two thousand cars. In the past, Baidu was willing to invest money as an internal incubation project to slowly cultivate it. But now, China’s new energy vehicles have entered the knockout stage. The ultra-Vietnamese car can’t survive at all, and it has been eliminated.
Baidu continues to throw money at it, even if it wastes money, the key point is to waste time. It is better to bet heavily on AI than to invest money in a car with no future. The growth period of the new energy automobile industry is over. There is no new power worth cultivating. Now, whoever rushes out, rushes out, and if he can’t, he waits for death in the same place.
Why did Geely, the second shareholder, give up the extremely fast car? For Geely, this extreme can only be regarded as half a "adopted son". Then why did Geely go to rescue the ultra-car? BYD invested heavily in Tengshi Automobile, and Mercedes-Benz gave up all its shares. Otherwise, why does BYD make every effort to build Tengshi cars?
Moreover, Geely has no shortage of sons at all. Geely is the largest and most successful automobile company in China. It has a lot of sub-brands such as Volvo, Krypton, Lectra, Polar Star, Galaxy, Geely and long-distance commercial vehicles. Due to too many sub-brands, Geely also merged Krypton with Lectra. The market segment that Extreme Yue Automobile locates is also highly coincident with Extreme Krypton. Instead of supporting Extreme Yue, it is better to put all the money into extreme krypton cars, and instead of cultivating half a godson, it is better to cultivate a pro-son.
In Geely’s eyes, the super car is not even a chicken rib.
In this knockout, only sales are king. Or, like Zero Run and Tucki, if they are not optimistic, their monthly sales will exceed 30,000 vehicles and rise against the trend. Or, just like Xiaomi and Huawei, relying on their strong IP appeal, they will continue to create super explosions. Or just like BYD, Chery, Geely and other traditional car companies, they have been rooted in the industry for decades and eventually grow into towering trees.
Otherwise, when the times abandon you, you won’t even say hello. The bankruptcy tide of this new force is not over yet. Except for a few head car companies, other brands are still facing the risk of elimination.
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