First Tianjin After Shanghai: Hengda Automobile Layout Rudiment

The news of a share transfer made Hengda Auto's project in Shanghai surfaced.

The leading role is Hengda power new energy automobile (Shanghai) Co., Ltd. (hereinafter referred to as "Shanghai state energy"), and its 20% stake is transferred by a state-owned shareholder in Songjiang District. Public information shows that Shanghai is able to build an automobile manufacturing plant in Songjiang, and has gained support from Hengda in the near future.

A document obtained by the economic news reporters in twenty-first Century showed that Hengda new energy automobile Investment Holding Group Co., Ltd. (hereinafter referred to as "Hengda Auto Group") is financing by the Shanghai Everbright trust for manufacturing projects in the state of Hong Kong. The scale of financing is 1 billion 730 million yuan, and Hengda group is the guarantor.

In the past two years, Hengda Group has made great efforts in the field of new energy vehicles, and has completed many acquisitions with the attitude of "no money difference", and has also laid out a vehicle manufacturing base in many cities throughout the country.

Among them, the total investment scale of Guangzhou is as high as 100 billion, which is regarded as the key to Hengda car making. But after the acquisition of NEVS, Tianjin and Shanghai have become the forefront of Hengda car making.

The Tianjin plant is the main production base of the national energy automobile. In 2017, the main body of the country's ability to obtain new energy vehicle production qualification is the joint venture company located in Tianjin, namely, the New Energy Automobile Co., Ltd. (hereinafter referred to as "Guo Neng motor"). In March this year, Hengda also held the global strategic partnership summit of new energy automobile group in Tianjin. The Shanghai plant is a tentacle for the expansion of the national energy vehicle in the Yangtze River Delta, and it is also a positive expansion of the state's investment policy for the industry.

It is worth noting that Hengda automobile itself also attaches great importance to the layout of Shanghai base. In October this year, Hengda new energy vehicle Global Research Institute announced that it was located in Songjiang. It is reported that Songjiang District has signed a cooperation agreement with Hengda automobile and Hengda Power Technology Group on R & D of new energy vehicle hub motors and expansion of new energy vehicles.

Hengda automobile business development in Shanghai has become an important window to observe Hengda automobile.

Hengda also plans to invest in Shanghai to build new energy vehicle hub motor R & D production base, with an annual capacity of 200 thousand sets. - Gan Jun photo

100 thousand passenger vehicle projects under construction

The trust documents show that this financing fund is used for the construction of Shanghai's national energy plant. The funds are distributed in two batches, of which the class a share is not more than 1 billion 230 million yuan, and the B class share is not more than 500 million yuan. Specifically, it is mainly used for the construction of 100 thousand sets of new energy vehicle body parts construction projects under the name of Shanghai national energy, and the subsequent development and construction of 100 thousand sets of new energy vehicle parts and components construction projects.

The factory in Shanghai is already under construction. Recently, in twenty-first Century, the economic news reporter went to Shanghai, Songjiang District, where a new energy vehicle factory is rising near the middle of Minkang road. It is reported that the first phase of the main plant project will be completed by the end of this year, and the equipment installation part will be completed by the end of next year.

Statistics show that Shanghai national energy is a new energy vehicle R & D and production enterprise. It was registered in Songjiang economic and Technological Development Zone of Shanghai in May 2018, with a registered capital of 2 billion 500 million yuan. The largest shareholder is Tianjin Hengda Ruixin Energy Technology Co., Ltd. (hereinafter referred to as "Tianjin Hengda Guo Rui"). Tianjin Hengda Guo Rui is one of the core holding companies in NEVS, and it shares NEVS with its shareholders.

Shanghai national energy is the second vehicle project of the national energy automobile and its founder Jiang Dalong in China. Statistics show that by the end of 2017, the Shanghai municipal government issued an invitation to the national energy vehicle after the inspection. In June 2018, the Shanghai new energy automobile base was laid the foundation in Songjiang. At that time, the state took two land in Songjiang, totaling 324 thousand square meters, about 486 acres.

The first production base in Tianjin was set up in China, which aims to integrate the Beijing Tianjin Hebei region and the whole global market. But at the same time, Jiang Dalong did not give up the Yangtze River Delta region with the advantage of the auto parts industry chain.

According to Jiang Dalong's assumption, the combination of the domestic market and the international market will lead to large orders. Only one factory in Tianjin can not support so many orders, so there is a need for a new project.

After NEVS acquired 51% stake by Hengda, Shanghai plant construction and commissioning issues were accelerated. One such former Tianjin factory.

Trust financing is not common in vehicle manufacturing projects, but Hengda provides guarantee for Shanghai factories. In addition to vehicle sales revenue after the project is put into operation, Hengda Group, as guarantor, takes the comprehensive operation income of listed companies as the source of repayment. In addition, item company shares and plots of Hengda automobile company in Anhui and Lu'an were mortgaged and mortgaged respectively to enhance the credit of the trust project, and the corresponding land transaction price was about 2 billion 890 million yuan.

It is worth mentioning that the Hengda Lu'an project is also a high-tech industrial project introduced by the local government in attracting investment. Hengda enjoys certain preferential conditions. According to local media reports in Anhui, Hengda also planned to build a new energy vehicle project in Lu'an.

First Tianjin, then Shanghai.

Shanghai's national energy projects are constantly pushing forward. On the one hand, they are optimistic about the market for new energy vehicles, and realize mass production on the other hand. They also accumulate resources for subsequent R & D and production.

According to the estimate of Hengda, the sales income can reach 6 billion 975 million yuan during the period of class a share, which is enough to cover the repayment of all principal and interest of the trust.

The source of sales revenue is selling cars. According to the information disclosed in the documents, Shanghai can produce two kinds of cars, one is 9-3X medium SUV and the other two is 9-3S car racing. The factory has an annual capacity of 100 thousand units. It is estimated that the year 2022 will be reached in 2022, and that in 2020 and 2021 will be based on the annual output of 50 thousand vehicles and 70 thousand vehicles. The above sales revenue is calculated at the cost of 190 thousand yuan and 170 thousand yuan for the two cars.

Both 9-3X and 9-3S are built on Saab 9-3 platform, and the "national energy 93" ("NEVS 93"), which was previously produced at Hengda new energy automotive group global strategic partners summit, is also based on the above platform. After Hengda releases its brand "Heng Chi", whether the two models produced by Shanghai will continue to be linked to the brand of national energy or NEVS is still unknown.

Earlier, Shanghai's ability to expand its capacity in Songjiang was based on a promising new energy vehicle market, and also a period of relaxed policy to seize investment in the automotive industry. However, with the introduction of the latest automotive industry investment regulations in late 2018, the Shanghai factory of the state began to face different situations.

A car industry insider told the twenty-first Century economic report that the production qualification of Shanghai state energy is limited or limited in the short term. According to the regulations, the existing car companies will expand the production capacity of the same kind of pure electric vehicles, and meet the requirements of the construction of the pure electric vehicle output in the last year. This means that only the Tianjin plant can reach the production capacity, can the Shanghai factory be able to produce.

A person close to Hengda car told reporters that the Tianjin plant had a capacity of 50 thousand units in the first phase, and it was not difficult to reach the goal when the product passed and the channel was sound. "Car investment is cyclical, and early layout is normal."

Hengda has great ambitions in building cars, and has also built or planned vehicle manufacturing projects in other areas such as Guangzhou, Shenyang and Qingdao. In November this year, Hengda new energy vehicle global strategic partnership conference held, Hengda Group chairman of the board of directors, said Xu Jiayin, Hengda plans to build 10 production bases, covering China, Sweden and other countries along the road.

However, in addition to the vehicle factory, Hengda automobile also has a global R & D Institute in Shanghai. The Global Research Institute, which was announced in October this year, is intended to build a R & D business value chain covering foresight technology research, product planning, conceptual design and so on. In addition, Hengda plans to invest in Shanghai to build R & D production base for new energy vehicle hub motors, with an annual capacity of 200 thousand sets.

So far, Xu Jiayin's rudiment of automobile layout is looming, but at the moment, the test of Hengda car in China's automobile market has just begun.