Huatai Automobile, formerly known as Rongcheng Automobile Refitting Factory, was established in February of 199 1.
1996, Rongcheng automobile refitting factory reached an agreement with Hyundai Seiko to jointly produce Auburn off-road vehicles. The main parts are provided by the Korean side, and the car body is produced and assembled by the Chinese side. Passed the provincial appraisal one year later.
This project has been strongly supported by Shandong Province, and even allowed to apply for qualification and trial in the province. However, Rongcheng Automobile Refitting Factory failed to apply for qualification. In desperation, he was affiliated with FAW Group in April, 1999, and the curve obtained the birth certificate. The "Auburn" brand was also changed to the "Jiefang" brand, code-named CA6470W, and 120 vehicles were produced that year.
The former Auburn SUV has also become a "liberated land cruiser". It is understood that the car is equipped with a 3.0L Mitsubishi V6 multi-point injection engine made in Korea, with a maximum horsepower of 16 1 and a retail price of 283,000 yuan. The excellent performance of the Liberation Land Cruiser is in short supply.
During this period, Rongcheng Automobile Refitting Factory also introduced the FRP trailer production project of Eaglebe Automobile Company of the United States in August 1998, and started mass production in March of the following year, and exported 150 vehicles that year.
Rongcheng Automobile Refitting Factory not only produces CA6470W off-road vehicles and FRP trailers, but also produces CA64 10 vans.
(CA64 10)
According to the data, in 1999, Rongcheng Automobile Refitting Factory achieved a total industrial output value of 3.48110,000 yuan, a sales income of19.43 million yuan and a profit of1240,000 yuan.
Everything seems to be developing in a good direction. However, it didn't take long for FAW Group to quit. In the same year, it was acquired by Baotou Hengtong Group and established Rongcheng Huatai Automobile Co., Ltd..
It should be noted that this Hengtong Group has nothing to do with Chongqing Hengtong Bus. It was founded by Zhang Xiugen, and its main business is real estate and coal.
After leaving FAW, the land cruiser after liberation became Huatai Yoshida. With this car, Huatai occupies 65,438+00% of the SUV market and ranks third among domestic SUV models.
In 2002, Huatai built a new factory in Yanbian, Jilin Province, and obtained the production right of modern brand-new SUV Traka, with a total investment of 65,438+0,654,38+0.72 billion yuan.
In 2003, Huatai Traka went offline. The car hangs a modern logo, adopts a non-loaded body, and is equipped with 2.5L and 3.5L? V6 gasoline engine and 2.5TCI diesel engine. With this car, Huatai Automobile continues to be among the best.
At the same time of producing SUV, Huatai Automobile also introduced modern automobile technology to produce Lubao bus and Kangdi medium-sized bus in Yanbian factory.
In 2005, Huatai Automobile got the production right of modern Santa Fe, and it was officially listed the following year, still with a modern logo.
Although this practice has increased sales, it has lost the brand growth opportunity for Huatai Automobile. So later Huatai began to modernize and began to use its own logo. Another reason is that Hyundai has established a joint venture with BAIC at that time. If Huatai continues to hang the Hyundai logo, it will affect the joint venture to some extent.
Perhaps it is also for this reason that after Santa Fe, Huatai never launched a modern model. This also makes Huatai have no new products for a long time, and it is difficult to maintain by old models.
In 2009, Huatai Santa Fe C9 and Traca T9 based on Santa Fe and TRACA were listed, but the market performance was average.
A year later, Huatai launched its first car, B 1 1, which resembled Bentley. This car has a more advanced human-computer interaction system, and the diesel version was introduced for the first time, but no one cares.
20 1 1 year, the marriage between Huatai and Saab was very short, and it was planned to make Saab 9-3 in China, but it ended only nine days later. In the same year, Huatai introduced a Baolige with a front face similar to Bentley and an overall shape similar to Cayenne. But consumers don't buy it because the imitation marks are too heavy.
Since then, Huatai has successively launched many models such as Xinsheng 70, Lusheng 80, Lusheng 90, Lusheng 5, Santa Fe 5 and Santa Fe 7, but the market performance is still sluggish.
It is worth mentioning that the sales volume of Huatai Automobile has always been a mystery. From 2008 to 20 10, Huatai Automobile registered 45,000 vehicles, but the sales reported to China Automobile Association were as high as183,000 vehicles! 20 1 1 in may, 2008, because Huatai automobile falsely reported its sales data for a long time, China automobile association refused to use its production and sales data, but used 0 instead.
Although the automobile business is not very profitable, Huatai Automobile's coal business has made a lot of money by virtue of the automobile business.
In 2005, Ordos, eager to change the single industrial structure, introduced Huatai Automobile. As an additional investment, Huatai obtained the mining rights of two coal mines at a price lower than the minimum transfer price. According to statistics, the resale transactions of these two coal mines later brought Huatai at least 4 billion yuan in cash income.
Later, Huatai also obtained billions of yuan of subsidies from local governments and extremely low-priced land through landing in Tianjin and Jiangyin, and also obtained a higher credit line through shareholding in banks.
Perhaps because of the high subsidies for new energy vehicles, Huatai Automobile began to transform into new energy in 20 18, and acquired Shuguang 19.77% equity and 2 1.27% voting rights, becoming the largest shareholder. Through the weak alliance, we have obtained the production qualifications of new energy passenger cars and new energy commercial vehicles, and launched a number of new energy vehicles.
However, people in the industry generally believe that Huatai's acquisition of Shuguang is actually for backdoor listing, but there are problems in the later operation, which leads to problems in the capital chain.
According to statistics, by the end of March 2065438+2009, Huatai Automobile's interest-bearing debt was 29.4 billion yuan, of which short-term debt accounted for 68%, and the debt repayment pressure was huge.
2065438+July 2009, R&F Real Estate intends to participate in Huatai Automobile and sign a strategic cooperation agreement. However, a month later, R&F indicated that it had initially cooperated.
In the same year, Shuguang shares held by Huatai Automobile were frozen, and all bank deposits of Huatai Automobile Group added up to only 6.5438+0.32 million yuan. Huatai Automobile's main production bases in Rongcheng, Shandong, Tianjin and Erdos, Inner Mongolia have also stopped production.
Huatai automobile, which once flourished, has also embarked on a dead end.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.