On January 10th, it was reported that Li Feng, former member of the former party committee of BAIC Group and former dean of BAIC New Technology Research Institute, had left the BAIC Group and will join Baoneng Group. He has officially joined the company on the 10th. The reporter of "China Business News (blog, Weibo)" asked Li Feng whether he left the company to verify the head of the public relations department of BAIC Group. The other party responded: "The specifics are not clear. The group company has not issued a document and is unable to reply."
In December 2017, there was news that Li Feng had left the BAIC Group and would join Weilai Capital as co-founder. Earlier, in May 2016, there was a rumor that Li Feng left the BAIC Group, but Li Feng was in a timely manner.
Talking about the rumors that Li Feng left the BAIC Group, the industry believes that it is related to the development of BAIC Group. From the perspective of operating conditions, BAIC's own brand has been losing money for three consecutive years. The data shows that the accumulated losses in the three years from 2014 to 2016 were as high as 7.9 billion yuan. In 2017, BAIC's own brand did not curb the loss. Beijing Automotive's first-half financial report in 2017 showed that the loss of BAIC's own brand in the first half of 2017 has reached 3.265 billion yuan; in addition to Beijing (BJ) brand, BAIC The sales of the remaining three major brands declined from January to November 2017.
It is worth noting that in December 2017, Xu Heyi, Chairman of BAIC Group, announced that Beijing Automotive (01958.HK) will completely stop the sales of its own branded traditional fuel passenger vehicles in Beijing within 2020, and will be fully integrated in China in 2025. Stop production and sales of self-owned brand traditional fuel passenger cars. In addition, BAIC Group proposed the “Leading 2025 Strategy†for the development of new energy vehicles by BAIC. It will focus on pure electric power, and the three lines of pure electric, plug-in hybrid and fuel cell will strengthen the light, intelligent and networked. Deep integration of technology.
In August 2017, Baoneng Group registered and established Baoneng Automobile Co., Ltd. (hereinafter referred to as “Baoeng Autoâ€) and officially entered the automotive field. On January 9, Kenyon Holdings, the parent company of Qoros Auto, announced that it was officially the controlling shareholder of Qoros. According to the announcement, Baoneng Group acquired 51% of Guanzhi's shares for 6.63 billion yuan. After the acquisition by Baoneng Group, the shareholder structure of Qoros Auto became 51% of Baoneng Group, 25% of Chery Auto and 24% of Kenon Holdings. In fact, since the second quarter of last year, Baoneng Group has injected three funds for Guanzhi Auto, which are 300 million yuan, 700 million yuan, and 50 million yuan respectively. In December, Chery Automobile announced a transfer concept of 1.625 billion yuan. To the Baoneng Group, a 25% stake in the car.
The Baoneng Group's entry into the automotive field was dubbed the "barbaric" invasion, and its holding of the car was not a rise. In October 2017, it signed a project cooperation framework agreement with the Fuyang District Government of Hangzhou to invest in new energy vehicle projects. In November, it signed a strategic cooperation agreement with the Kunming Municipal Government to build a new energy vehicle and parts project. This series of actions means that the P&G Group has a multi-dimensional layout in the automotive sector. This time, the company has been able to directly use its existing vehicle qualifications, which is crucial for the Baoneng Group, which has no production qualification.
It is reported that Li Feng will serve as chairman of Baoneng Automobile, but this rumor has not been confirmed. Li Feng has extensive experience in vehicle R&D, manufacturing, marketing and corporate management. If he finally chooses to join Baoneng Automobile, he will accelerate the process of Baoneng Automobile's car construction and accelerate the overall layout of Baoneng Automobile in the automotive field.
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