Burn 8.4 billion and burn 2 billion to build a car.

Bai Teng, who has been silent for a long time, finally has a new move.

In June this year, Baiteng was named by CCTV for raising more than 8.4 billion yuan but not building a production car. Subsequently, Dai Lei, CEO of Baiteng Automobile, temporarily organized a telephone communication meeting for all employees in China District, and announced that Baiteng China District would stop operating, leaving only about 65,438+000 employees on the job.

Just when everyone thought that Baiteng would stop working like Lindsay and other new car-making forces until bankruptcy and liquidation, on August 24, it was reported that Baiteng Automobile had applied for registration and established a new technology company. It is understood that the new company is named "Shengteng", and it is expected to receive the legal person business license at the end of August. Shareholders such as FAW Group are actively promoting the most important work of the new company-financing.

As we all know, capital is the most important support for all new car-making forces, and it is also the root of their so-called "burning money". Since 20 17, Baiteng Automobile has carried out four rounds of financing with a total amount of 8.4 billion yuan. However, due to the slow progress of mass production vehicles, the capital market has gradually lost patience with Baiteng Automobile, and the C round of financing has not yet been put in place. In addition, Baiteng is also burdened with debts of several hundred million yuan, including the remaining debt of 470 million yuan from the acquisition of FAW Huali, the project payment for factory construction and the final payment for equipment, as well as the unpaid wages of employees. And the financial pressure is huge.

Therefore, in order to speed up the mass production of M-byte models, newly registered technology companies plan to raise another 2 billion yuan. Together with the previous 8.4 billion yuan, Baiteng invested more than/kloc-0.0 billion yuan before and after mass production, which is not a general "burning money".

However, the mass production of Baiteng automobile, which everyone is most concerned about, has also made substantial progress, and it is planned to "restart at full speed" in September.

Screenshot of eye inspection

According to the announcement of China Bidding and Purchasing Information Network, the bidding project of "Additional Labor Contract for Low-voltage Automatic Control System Project of Key Parts of New Energy Vehicles with an annual output of 300,000 sets" has been settled, and Nanjing Zhongshijiang Construction Engineering Co., Ltd. won the bid on August 22nd.

At the same time, according to informed sources, in order to control the cost, some designs of M-byte models will be updated. In order to shorten the time and reduce the cost, some projects originally undertaken by foreign suppliers will also be handed over to local suppliers in China, all in order to quickly promote the listing of vehicles.

In terms of employees, Baiteng Automobile is also recalling employees in batches. In the past two months, the number of employees staying in the post has increased from nearly 100 to about 130. The third round of enrollment expansion is expected to be completed in September, when the number of employees will increase to nearly 200, mainly R&D personnel. In terms of salary, the salary of left-behind employees adopts the system of "basic salary+floating salary", and the floating salary accounts for 15%-30% of the salary, which corresponds to different proportions according to the level of employees.

In addition, Baiteng is advancing according to the restructuring plan given by FAW Group at the end of June this year, and there will be a listing plan in the future.

Baiteng Nanjing factory

According to the reorganization plan, in addition to M-Byte, the Nanjing factory of Baiteng Automobile will also produce pure electric vehicles with the red flag code "EQ320". According to the agreement of FAW Group to invest in Baiteng B-wheel, the annual production capacity of Baiteng Nanjing Plant10.5 million will be 50,000 vehicles for the production of Hongqi EQ320 based on M-Byre technology. At the same time, Baiteng Automobile Nanjing Factory plans to open OEM to other high-end electric vehicle brands in the future. It is rumored that Audi, which is closely related to FAW, is in contact.

In 2020, the sudden cold winter in the market has caused a large number of new car-making forces, such as Boxian, Lindsay and Ranger, to fall on the road of chasing dreams. However, new car-making forces, such as Weilai, Tucki, Ideality and Weimar, which have achieved mass production delivery, have also rushed to the secondary market in order to stabilize their blood. For domestic new car-making enterprises, "burning money" is the beginning, and "burning out" naturally means the end. As a result, Baiteng, who refused to give up, registered a new company, changed his identity and returned to the capital market to seek funds and restart his dream of building a car.

Overlooking Baiteng Nanjing factory

However, Baiteng, backed by FAW, does have a certain confidence compared with other new forces that build cars. Not only has the production qualification, but also the Nanjing factory was built in September last year. As long as the funds can keep up, mass production delivery should not be a problem.

The problem is that the new car-making forces that have been mass-produced have occupied the market and won word of mouth, leaving little market space for Baiteng. If you can only sell dozens or hundreds of cars a month, it is obviously impossible to survive in the market, not to mention that the pre-sale price of more than 300 thousand cars itself makes it difficult for many consumers to start. In addition, the problems brought by delivery, such as capacity guarantee, product quality, after-sales service and platform support, are all challenges faced by new car manufacturers.

If you want to go on for a long time, besides money, technology, management and marketing are indispensable. Mass production? This is only the first step of Baiteng.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.