"The amount of financing outside, I can say to everyone that the water is too big. Everyone has to be good at identifying and distinguishing such a state." On April 15, Achievo Co-founder and CEO Gu Feng In an interview with the Economic Observer Online reporter, he said. Although he only exchanged with Gu Feng twice, his words are sharp and his opinions on the industry are impressive. Gu Feng was originally the CFO of SAIC and the general manager of SAIC Finance. In April 2017, he resigned from SAIC and joined the new car company Ai Chi.
Gu Feng said sharply a year ago that only 2-3 of the new forces in the car can survive. "New car companies will not die from funds, but die from products." Gu Feng said earlier. In an interview on April 15, Gu Feng expressed doubts about the financing wars that the new car companies have set up. Gu Feng believes that financing is not the most crucial place to build a car, and there is no need to raise up to several tens of billions of dollars.
At present, from the perspective of the amount of financing, the financing of Weilai and Weimar has exceeded the scale of 10 billion. Weilai Auto financing exceeded 14.6 billion yuan, Weimar Automobile accumulated more than 12 billion yuan in financing, Xiaopeng Automobile, Aichi Yiwei financing exceeded 7 billion yuan, singularity vehicle financing exceeded 4.6 billion yuan; vehicle and home financing exceeded 2.7 billion yuan FMC financing is close to 2 billion yuan. Kaiyun Auto and Zero Run Car completed the angel round financing respectively. Yundu New Energy will start the first round of financing this year.
"I am very opposed to the kind of inability to melt two billion to solve the problem. I am responsible to say a word to everyone, making a car does not need to raise so much money, if you shout so much money, I think objectively, is not Confident performance." Gu Feng said. In the hands of SAF, which is responsible for finance for more than 20 years, more than 20 factories have been built, and more than one hundred models have been developed on the hands of the company. This makes Gu Feng’s account clearly clear.
"How much does it cost to develop a car, how much it costs to build a factory, how much money is spent on daily operations, and I figure out the numbers in my sleep. The car is not piled up with money." Gu Feng said.
On April 15th, Aichi Automobile held an investor conference in Shanghai. On the spot, Aichi Automobile announced that it won the third round of financing. This round of financing was led by Shagang Group, Guangwei Holdings, Fuding Capital, and Funer Source. Pu Yin Industrial and other investment. Aichi Yiwei said at the scene that after counting this round, it has completed three rounds of financing in more than a year since its establishment.
Ai Chi did not disclose the amount and shares of this round of financing. The total amount of the company's three rounds of financing has exceeded 7 billion yuan and its valuation has exceeded 10 billion yuan. But how much financing is not what Gu Feng is interested in. As a financial expert, it believes that sound development is the future of a company, including financing. “It’s too easy to pile up a car with money. How many third-party companies are now serving you? The key is whether the car can land, can you build a good supply chain, can you deliver a high-quality, high-quality car in bulk? In the hands of users, this is the core."
Gu Feng highlighted the risks of large-scale financing. He pointed out that the high-level team is the core of entrepreneurship. If the team's equity is diluted in a large amount and the team does not have absolute right to speak, the investor will hesitate because of the risk. “You must gradually increase the company's financing according to the development stage according to the development stage.†In the third round of financing, Gu Feng said that the investment enthusiasm exceeded expectations, but Aichi did not want to dilute the equity too much at this stage. “Our round of financing has been crushed a lot because the valuation of the entire company has not met the wishes of our investors, and we have put a lot of financing into the next round.â€
Gu Feng also said that Ai Chi does not sign this type of agreement with anyone, this is a very dangerous capital game, and does not agree to finance through this way of quenching thirst. Achi financing will be carried out in the most healthy way. "We hope to find a partner who is willing to integrate this industrial resource into the Ai Chi platform and work together. We are willing to integrate with our resources to integrate all aspects of resources, not just for short-term returns." Gu Feng said. For the moment, many new car companies have not yet listed their products, and they have proposed a listing plan. Gu Feng also warned of the risks.
"Investors must have a plan to withdraw, there are various ways to exit, and listing is only one of the channels." Gu Feng said. Some professionals said that from the perspective of financing channels, some companies are in a hurry to go public because the private market has no money. “The valuation of the company is already very high and can only be done in the public market. When the valuation is estimated to be several billion dollars, the private equity market cannot play,†the source said. At this stage, it means that the financing of the company has been difficult. Ai Chi Automobile said that there is no listing plan for the time being and will not be listed for listing.
In addition to the capital and operating model, Gu Feng also interprets the current car-making methods of new car companies. Gu Feng believes that new car companies should master the core process of car making. "We insist on building our own cars. Why? Cars are too complicated. If you don't build your own cars, you may have various problems." Gu Feng said.
At present, in the new automobile manufacturing enterprises, due to the consideration of the qualification application cycle and other reasons, some enterprises choose the foundry mode to develop. For example, Weilai Automobile chose Jianghuai OEM, while the electric coffee car chose Southeast Auto OEM. Xiaopeng chose Haima Automobile OEM, and other zero-run cars are also considering whether to adopt the OEM model. At present, Ai Chi has no plans for OEM.
Ai Chi is about to "land"According to the data, Aichi Automobile was formerly known as Aichi Yiwei. It was founded in February 2017 by Fu Qiang, former general manager of Volvo China Sales Company and former CEO of SAIC CFO. In February 2017, it attracted the general manager including the former Beiqi New Energy Vehicle. Assistant, Marketing Communications Minister Jin Xin, former Audi China No. 1 employee Roland Gumpert and other auto industry executives joined. A year after its establishment, Aichi Automobile officially released its development strategy on April 16th.
In line with the concept of other new ventures, Ai Chi will verify its self-development as a set of intelligent pure electric travel ecosystem. Aichi's technological breakthrough will mainly focus on battery, artificial intelligence and electric drive technology. On April 16th, Aichi Automobile showed its MAS platform for pure electric vehicle architecture for the first time. According to reports, the MAS platform supports multi-model spectrum development of the same architecture, covering A, A+, and B levels. The wheelbase can be flexibly changed between 2600mm and 3000mm, which can realize the sharing of parts between different levels of vehicles. Reduce costs, increase productivity, and shorten product iterations and launch times.
It is reported that the MAS platform supports application bandwidth of at least 15 models (including SUV, Sedan, MPV, Cross, Pickup). In the future, these models are likely to appear in the product layout of Ai Chi. And Ai Chi said that in the future, the company will launch new products at the speed of a new car every six months. At present, Achi Auto has laid out two product lines: one is a high-performance electric sports car product developed by a German subsidiary, and the other is a product based on the MAS platform architecture.
Like most new car companies, Achi Automotive does not currently have production qualifications. The factory of Ai Chi Automobile in Shangrao City, Jiangxi Province, is nearing completion. After the first phase of the plant is completed, it can produce 150,000 new energy vehicles per year. After the completion of the second phase, it can produce 150,000 new energy vehicles per year. After the completion of the two phases, the capacity of 300,000 vehicles can be achieved. The total investment of the project is about 13.3 billion yuan for the production of pure electric SUVs, MPVs and cars.
"Products are made, the funds must not be lacking, the products can not be produced, the funds will be lacking. If the fish and bear paws are selected, they must choose products instead of funds." Gu Feng stressed.
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