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getUrls?link=5a3873f6dde0d6d17690dc3baa379ab5 - Shengteng Automobile was formally established, Byton restart"in progress"

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Byton, which has been silent for a long time, has a new action.

According to data from Qixinbao, on September 9, Nanjing Shengteng Automobile Technology Co., Ltd. (hereinafter referred to as Nanjing Shengteng Automobile) was formally established with a registered capital of RMB 1.5 billion. The legal representative is Duan Lianxiang. The business scope includes research and development of auto parts; technical services, technology development, technical consultation, technology exchange, technology transfer, technology promotion; sales of new energy vehicles; sales of electrical accessories for new energy vehicles; sales of new energy vehicle replacement facilities; new energy Automobile production and test equipment sales, etc.

getUrls?link=06ae69e6b530ed52ca5bd622334d6ebd - Shengteng Automobile was formally established, Byton restart"in progress"getUrls?link=7bc2cf3e0d93bc48a8c29ac301e053e2 - Shengteng Automobile was formally established, Byton restart"in progress"

Image source:Qixinbao

It is worth noting that in the shareholder information of Nanjing Shengteng Automobile, there are Nanjing Xingzhi Technology Industry Development Co., Ltd. and FAW Equity Investment ( Tianjin) Co., Ltd., Chengdu Rongpu Technology Partnership (Limited Partnership), Duan Lianxiang and Xiamen Daohe Zhilian Investment Partnership (Limited Partnership), etc. Among them, Duan Lianxiang’s shareholding ratio is 6.67%. Public information shows that Duan Lianxiang was Vice President of Research and Development of Byton Motors China.

Previously, some media reported that Byton Motors had applied for the registration of a new technology company, named”Shengteng”. The new technology company plans to raise 2 billion yuan to accelerate the mass production of its first model M-Byte. At present, FAW Group and other shareholders are actively promoting this financing.

Based on this, with the establishment of Nanjing Shengteng Automobile, the industry’s discussion about whether Byton has restarted has also reappeared. In this regard, an insider from Byton Motors told the reporter of”Daily Economic News”:”Byton Motors is indeed doing the project restart work, and hopes to start mass production as soon as possible. After the establishment of Nanjing Shengteng Motors, it mainly focuses on M -byte model research and development.”

Just at the end of June this year, Byton Motors held a board of directors and announced a six-month reorganization.”The epidemic has brought huge challenges to Byton’s financing, production and operation. After careful consideration and joint discussion by shareholders and management, it was decided to start a plan to reduce costs for all employees from July 1 to fully promote the company’s strategic restructuring. It has received full support from core shareholders. In the next six months to promote the project reorganization, Byton will arrange for some core backbones to continue to maintain the basic operations of the company, and the remaining employees will temporarily stay on standby.” Prior to this, the relevant person in charge of Byton Motors was interviewed by reporters. Shi once said.

According to data from Qixinbao, Byton Auto’s operating entity is Nanjing Zhixing New Energy Vehicle Technology Development Co., Ltd., established on June 13, 2017, with a registered capital of approximately 5.64571 billion yuan, and the legal representative is DANIEL ISIDOR KIRCHERT.

As one of the representatives of new domestic car-making forces, Byton has experienced four rounds of financing so far, and the total amount of financing has reached 8.4 billion yuan. Previously, the person in charge of the aforementioned Byton Motors told reporters that by the epidemic, Byton’s financing plan has been delayed, and the C round of financing is currently underway.

It is understood that Byton’s C round of financing is expected to be US$500 million, which was originally planned to be completed by the end of 2019. Investors include FAW Group, industrial investment funds under the Jiangsu and Nanjing municipal governments, and South Korean MS The group’s Young Shin company, etc.

It is worth mentioning that FAW has once again appeared among the investors of Nanjing Shengteng Automobile. Some analysts believe that this action shows that FAW has not given up Byton and is actively assisting Byton to advance its restructuring.

At present, the new forces of car-making are facing a situation of polarization, and the head effect is gradually becoming prominent. The top new power car companies represented by Weilai, Xiaopeng, and Ideal have successfully listed on the US stock market, while the car companies represented by Sailin and Bojun have gradually lost their voices. After the reorganization is officially completed, can Byton smoothly keep up and return to the track? The industry will continue to pay attention.

Daily Economic News