Wanxiang Group was scheduled to redistribute the Fisker EV plan in 2015 or will delay

Absrtact: [Despite the well-planned, but universal plan to build a complete industrial chain through overseas mergers and acquisitions, including Fisker, and thus complete the transformation from component makers to vehicle manufacturers, it seems more challenging than imagined]

[In spite of the well-planned plan, it seems to be more challenging than imagined to create a complete industrial chain through mergers and acquisitions, including Fisker, and thus complete the transformation of identities from component manufacturers to vehicle manufacturers]

After a takeover of Fisker, the US electric vehicle maker, the group's progress in reviving the brand appears to have been slower than expected. According to Reuters, China's million-2015 plan to redistribute Fisker Electric vehicles to the group was scheduled to be postponed to 2016, while new car names may also change to Elux to replace Fisker.

As the founder of the largest component group in China, Lu, chairman of the Board of Directors of the group, is well known in the industry, however, for many years, the dream has not been realized because of the production qualification. However, this did not dispel the determination of Lu, in view of the state's support for the new energy vehicle industry, the Wanxiang group tried to make a breakthrough.

Since 1999, the establishment of the electric Vehicle Project group, to the production of electric special vehicles, and through frequent overseas mergers and acquisitions, to complete the United States, the largest new energy battery manufacturer A123 Company's acquisition, Wanxiang Group has gradually established a more complete electric vehicle industry chain. Therefore, when February 2014, million to the group after several rounds of competition, to 149.2 million U.S. dollars in the acquisition of the Fisker in the First World War, Lu dream in the industry seems to finally have the timetable to achieve.

However, the next is the million to postpone the restart of production messages. According to the previous million in the bid for the Fisker submitted to the United States court documents, the first will restart in April 2014 Fisker production. Upon completion of the acquisition, Fisker's restart plan was demarcated in 1 years, and now, the further postponement of this time, in the eyes of the industry, undoubtedly to some extent, although the plan is comprehensive, but the million to be included in the Fisker, including overseas mergers and acquisitions, to create a complete industrial chain, The transition from component makers to vehicle manufacturers seems to be far more challenging than imagined.

New team or facing technical problems

"To restart Fisker production, you first need to clean up its previous problems." "The independent auto analyst, who has long been concerned about the merger of the Phelps Division, told the first financial daily in the fall. It is well known that Fisker, founded by Henrik Fisco, a renowned auto design guru, had previously been in the industry without a loss to Tesla's thunder, however, the frequent occurrence of the battery spontaneous combustion phenomenon, software failure, recall and other problems, as well as the eventual bankruptcy was acquired, to some extent, Fisker products in the quality of some problems.

"According to the news I learned last year, there are more than 250 flaws that need to be solved." Autumn never tells the reporter. At the same time, in his view, more important is how to solve the problem of spontaneous combustion.

The reporter learned that after the acquisition of A123, in June 2014, Wanxiang also bought new battery technology from Leiden energy company. Jeffkessen, a spokesman for Leiden Energy, said the deal contained more than 20 technical patents and some employees who would join the A123 Research Institute in Massachusetts to work on the future of EV battery technology development. "Wanxiang tried to solve the problem in the A123 battery to ensure the quality of the core parts of the electric vehicle." "Autumn always believes that the reliability and safety of power batteries are critical for any new energy producer," he said.

From a technical point of view, only to solve the above technical problems, restart production can become a reality. At the moment, the postponement of production has also, to some extent, meant that the world is facing challenges in technology research and development. "Fisker's original team almost left, and the new team was created by the million." Autumn always told reporters that from the experience of the previous, universal strengths and advantages in the parts manufacturing, to enter the vehicle field, in research and development and integration capabilities are challenged. "As a result, many of the core components of the current million are still dependent on outward mining." ”

However, after the Fisker bankruptcy dispute, the original supplier can hardly be used for universal. According to the autumn wing, since the completion of the acquisition, Fisker and the previous supplier's debt dispute almost lasted until the fourth quarter of last year, although the end, but the supplier received almost negligible compensation. and million to develop new suppliers, not only need to go through the audit period of about 12-18 months, the supplier will also take into account the scope of the sales of the Department, as well as their own access to the supply system after the cost and return issues.

Production floor Twists

For now, the cause of universal postponement of production is more than that, and production problems need to be solved.

According to the autumn wing, the Finnish Valmet factory, which was a foundry for the Philippines, was still willing to continue to work, but given the cost of production and the commitment to the Government, it was more willing to transfer production to the United States. Prior to this, Wanxiang plans to gradually the production of models by the Finnish factory in Michigan Detroit, the luxury sedan manufacturer VL Company, the latter is the previous acquisition of the Joint acquisition party.

However, according to the reporter, last May, VL Company was located in Virginia, the Gtavirginia Car company, and the latter in Mississippi owned a production of electric vehicles subsidiary. "VL's defection" has had a certain impact on the company's plan to put production in the United States. Autumn never thought. In his view, if million to the United States to produce Fisker models, the choice of only two, one is independent plant, the second is to enable the acquisition of Fisker in the former GM factory. However, public information indicates that the factory has not produced any vehicles since its closure in 2009. has been vacant, and the new owner, if it is to be put into production at a new plant, will doubtless take longer to trim and add to the equipment, and the new plant may take longer and higher costs.

In the autumn forever, the reason for the postponement of production is undoubtedly to better comb and solve the above problems. He said: "Fisker car after the listing of a total of only 1800 vehicles, indicating that there are problems in quality and brand, if not to do better preparation, I believe the million will not be hasty to launch the new car." "Involving brands, according to Reuters news, the million to the" Elux "to replace the" Fisker ", in this regard, the reporter tried to verify through the million group, but as of press, did not get million to the group related to the reply. However, the autumn has always confirmed that Universal does have this intention.

Elux Although is a new brand name, not as famous as Fisker, but in his view, in the long run, the adoption of a new brand name, may be able to avoid subsequent conflicts with Fisker's other business, which also explains to a certain extent the determination of the million to activate the acquisition of assets.

Even so, from the market point of view, Elux will be launched to win the success of the market, it remains to be seen. The Reuters news agency said its price would be positioned at around $135,000 trillion, up from about 20% per cent earlier. The Camaro is positioned as a high-end luxury product that is priced even more than Tesla models. Now, after two years of hot-lifting, Tesla's heat in global markets has been falling.

The results of the 2014 fiscal year, Tesla's earnings, showed a revenue of $3.198 billion, more than 2.013 billion dollars in the 2013 fiscal year, but a net loss of 294 million dollars, a bigger loss of 2013 dollars in the 74 million fiscal year. In the Chinese market, a car difficult to find the situation is also being rewritten, 2014 years, the Four seasons, Tesla in China's delivery volume significantly lower than expected. In view of this, autumn has always believed that after the resurrection of the Camaro is still facing a relatively small market, and the outlook is not very optimistic.

But is this strategy to hold up the high fight just a short-term plan? In the autumn forever, Wanxiang may also take the same product strategy as Tesla, first in the luxury market, and then from the top down to launch cheaper models, and eventually take the popular road. But whether such speculation is consistent with the universal plan is unclear.