JB&ZJMY will follow an OEM EV manufacturing cooperation model. Long Star and Chery will be the OEM manufacturers, and I believe at least one more major one (obviously others for smaller parts of the EVs).
Wuhu Huaba Electric Vehicle Co., Ltd (ZJMY has 70% ownership)
Wuhu's business plan before ZJMY acquired them in Jan 2017. From 2016 I believe
Note: ZJMY had started investing in Wuhu early on (see below). Wang Group acquired 70% of the company on 1/23/17 from above screenshot.
Quote:
Chapter 1: Basic Facts
Company Name: Wuhu Huaba Electric Vehicle Co., Ltd Set up time: September 2015 Registered capital: 1 million yuan Legal representative: Han Jianfang Shareholders: Han Jianfang Xie Haitao Shareholding ratio: Han Jianguang 90% Xie Haitao 10% Paid-up capital: 190.9 million yuan (as of May 20, 2016) Paid-up capital use: ... Paid-in capital source: 1. Han Jianguo shares: 700,000 yuan 2. Xie Haitao shares: 100,000 yuan 3. Wuhu city government science and technology funds: 14 million
4. Han Jianfang personal loans and interest: 500,000 yuan 5. Wuxi Mengfei Aviation Investment Co., Ltd. invested: 400,000 yuan 6. Beijing Zhongji Ming Yang new energy company investment: 69,000 yuan Total: 190.9 million yuan
The second chapter: the main product research and development:
The company's main products for the conditions of life 330 km, charging dual-mode electric vehicles. The product through the commission Kay wing car announcement, made the Ministry of Industry and the Ministry of electric vehicle production bulletin, and then commissioned Kay wing car OEM production. Is the light of the operation of the use of existing auto production capacity to achieve rapid production of the best way. At present, the product is entering the notice of the detection process, is expected to 4-5 months to obtain product announcements. 6-7 months to achieve mass production. Wuhu Panther technical team developed for the taxi market...
According to statistics, more than 600 cities in China a total of 1.6 million taxis, coupled with the recent years of vigorous development of the car, the total number of more than 2 million. In accordance with the State Council to develop the 13th Five-Year Development Plan, by 2020 to 50% of the fuel taxis gradually replaced by electric vehicles, which means that the next five years the Chinese market demand for electric taxis will reach more than 1 million.
And so far, there is no electric car can fully meet the requirements of the taxi industry, and my company's products, will be the only fully adapt to the taxi industry
Chapter 5 Product Manufacturing
To build a modern electric car manufacturing enterprises, need to invest hundreds of millions of dollars or even billions of dollars of funds, and the construction cycle also takes about 3 years to achieve mass production, this traditional model not only large investment, long cycle and investment rate of return Low, therefore, my company in the country's first use of the production of automotive enterprises qualification, production capacity, so that the automobile business on behalf of the announcement, OEM production of the development of the electric car cooperation model, Apple and Foxconn cooperation model in the world Within the scope of the first extension to the automotive sector - this will be the beginning of China's auto industry changes!
Chapter 6 Financing Description ...
6-1.2 As a result of the Company's use of light asset operation mode, let Chery's sub-brand company Kay wing car on behalf of the announcement and OEM production, need to pay about 10 million yuan Kai-wing car on the announcement and production line transformation costs, but also in the Wuhu construction for 100 electric taxi operation charge of the power plant model project
...
Chapter 7 of the financial calculation
? investment purposes: (1) prototype development: 200 million (2) commissioned Kay Wing car announcement: 6 million yuan (3) commissioned Kay wing vehicle OEM production, production line transformation fee: 400 million (4) 100 electric taxi and automatic charge for power plant model project: 15 million yuan (5) Company operating expenses and working capital: 3 million yuan
... my company will be a huge technical advantage of the national market, is expected within five years, only through additional liquidity will be able to market sales to 250,000 / year, according to the sales price, is nearly 40 billion yuan Sales, more than 50 billion annual profits, to create a small amount of investment in the return of the business miracle. ?
They will franchise the battery swap stations, with battery leasing and a monthly fee.
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