Reborn Entrepreneurial Giant.

Chapter 249 Formal Acquisition

The main reason why the Hunan Provincial Government wants to sell Changfeng Motors is Mitsubishi's non-renewal and non-cooperation. The relevant technology transfer agreements between Changfeng and Mitsubishi will expire in 2013 at the latest, and the agreement with Pajero will expire in March 2010. Expires at the end of the month.

When the cooperation expires, the Pajero model can be produced, but it cannot be branded as Mitsubishi, and there is a high probability that it will never be sold at a high premium.The average sales price of Changfeng Motors is close to 20, but the profit is not high. Mitsubishi Motors' share may be high.

As long as there is hope for Changfeng Automobile to stay in Hunan, it will not be sold to outsiders. The attractiveness of Quli and Honor is unknown, but the export of tens of billions of dollars exceeds the 5 billion investment promised by GAC in five years.In the final analysis, Changfeng Automobile is a worthless company, and the only value it has is the shell resources of a listed company.

Although Changfeng Automobile is small and well-equipped, it actually has a self-developed engine production line. Well, it acquired the Ford ZETEC series engine and improved it. It is unknown what the level of the team of more than 300 people is. It should be okay.If you can produce 3 cars a year, why do you need a car air conditioning company?

"In the future, Changfeng Automobile's product lines will focus on SUVs, cars and MPVs. Pure electric and energy-saving and fuel-saving plug-in hybrids are the general direction..." Qu Li explained his future work direction at the Changfeng Automobile headquarters, although he does not expect Changfeng Automobile to Cars can develop more advanced pure electric vehicles, but it is necessary to accumulate some patents.

For example, in addition to the current large-displacement and powerful off-road SUVs, SUVs are mainly developed for urban SUVs, which is to learn from the future Haval H6. Domestic SUV sales will grow fastest in the next few years; followed by cross-border MPVs, of course the target is Wuling Hongguang, targeting In the urban-rural fringe area, you can live a family life, start a business and deliver goods. In addition to Wuling Hongguang, this market also has many domestic brands; finally, cars are the largest market and the most competitive. There is no rush...

It takes about three years for a new car to go from design to production and sales. If you make arrangements now, you will have to wait until 2012 to see initial results. If you want to quickly improve performance, in addition to improving sales channels and improving service levels, it seems that the only way to develop Wuling Hongguang is to develop Wuling Hongguang. It uses a large number of common parts, focuses on system stability, safety and durability, and builds a cross-border van that is suitable for various road conditions and becomes a distribution vehicle in the Jumei logistics area, which is more suitable for entrepreneurship in the urban-rural fringe area.

Lu Qun, the person in charge of Great Wall Huaguan, did not directly refute Qu Li's request: "The car can be designed, but the engine cannot be developed by ourselves."

"Is there any suitable one in China?"

"Mitsubishi's engines are pretty good, and Chery's..."

Chery's engines are very well-known, but basically no one uses them except themselves. It's okay to say that no one is using them among the first-tier domestic manufacturers, but no one at second-tier or third-tier brands uses Chery's engines. This is obviously not a problem of friendly companies.

"Let's use Mitsubishi's first. After clarifying the plug-in hybrid design ideas, we can then cooperate with a well-known European engine design company to develop low fuel consumption engines." Qu Li said about Honda's i-MMD and BYD's DM-i. I remember there were a lot of quarrels afterwards. Regardless of who copied whom from the two companies, dual motors, three motors plus an engine were a good hybrid solution.

“Tesla’s pure electric cars do not have gearboxes, so this path is feasible.”

Qu Li, an outsider, participated in car design, which was somewhat inconsistent. Fortunately, he didn't know much, so he just started research and development after specifying the direction.

Honor will obviously cooperate with the two founders of Changfeng Cheetah and Jingjin Motor. The motors they develop can meet the needs of hybrid vehicles.

It is said that Great Wall Huaguan has developed so many models for Changfeng Cheetah, but none of them are big sellers. Whose reason is it?Anyway, after the acquisition, Qu Li untied the shackles of Great Wall Huaguan and did not require them to use Changfeng Group's spare parts. Considering factors such as performance and cost, he would not object even if he wanted to buy Chery engines.

It is impossible for Qu Li to take over Changfeng Motors by himself. The automobile experts he hired from the United States will serve as consultants, Glory will take over the personnel administration, and Vision Xiangcai Securities will take over the finance...

The most important thing was the announcement of the acquisition. Changfeng Automobile was suspended at the end of March. On April [-], Lei Jun came to Xingsha to attend a press conference on behalf of Honor, Changfeng Group, and Xiangcai Securities, and announced several things:

Honor's newly established wholly-owned subsidiary Honor Auto acquired 10% of Changfeng Automobile's shares from Changfeng Group for 29 billion yuan (price of Changfeng Automobile acquired by Guangzhou Automobile), Xiangcai Securities acquired 14.59% of Changfeng Automobile's shares from Mitsubishi, Qu Li Serves as chairman of Changfeng Automobile, while former CEO Chen Zhengchu remains in office temporarily.Changfeng Motors will not change its name for the time being...

All kinds of bragging aside, the press conference was also attended by high-level officials such as the Law Reform Commission and the governor of Hunan Province.This acquisition is destined to cause various controversies, including Qu Li, who will fall into the center of a storm of public opinion.Both Xiang Province and Glory are facing extraordinary challenges.

Sure enough, the reporters at the scene asked many questions, why did they abandon GAC and choose Honor? What is the purpose of Honor's cross-border acquisition? What can it bring to Changfeng Automobile? Why are you confident?

"Changfeng Group will work with Honor to develop the new energy vehicle industry in Huxiang..."

This excuse seems so lame that it's hard to explain the drama behind it.When the news was posted online, many people thought it was an April Fool's Day joke, but they didn't expect it to be true.

The acquisition is just the beginning. In order to supplement Changfeng Automobile's cash flow, Honor will also provide 3 million soft sister coins to increase the shareholding ratio to 35% through private placement and other methods. The total investment is close to 2 million U.S. dollars, which is considered a large sum. The disadvantage is that it is used for purely There is less money for tram development.

The news continues to ferment. Since Qu Li is no longer the CEO of Jumei and Honor, of course he does not need to accept external news interviews, and has temporarily avoided the storm. Changfeng resumed trading soon, and the stock price fell to the limit. No one believed that he could lead Changfeng Motors to glory.

It's not that this equity transaction is suspected of losing state-owned assets, but that Mitsubishi has cleared out Changfeng Motors shares. Their cooperation will obviously be suspended. Without Pajero, a high-end model with an annual sales volume of about 1 and a price of about 30, Changfeng Motors would Sales will plummet by two-thirds.

"Qu Li and Glory spent [-] million US dollars to become receivers!"

"Thumbs up!"

"..." This is a little different from what Qu Li thought. Although he still questioned his decision, he generally sympathized with him and did not think Changfeng Automobile would have any hope.

"Why did you really build a car?" Some friends who knew him through Jumei and Honor called him one after another. The fate of life is so unpredictable.

There was no Zhihu at this time, otherwise someone would definitely ask: Was it right or wrong for Qu Li to give up Jumei and Honor and join the automobile industry? Will he regret it?

There is no Zhihu Weibo. Wang Xing initiated this big discussion on Weibo, and Qu Li gave his reply:

"Pure electric vehicles are of strategic significance, and men like me are obligated to do so!"