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Changjiang EV Yi Cool

The Cheung Kong Automobile behind EV Yi Cool is the foundry of Zero Run S01.

S01 completes the production of body-in-white and three-electric parts in the zero-running self-built factory located in Jinhua, and the Changjiang Automobile Hangzhou factory performs final assembly.

A fact that cannot be ignored is that, in addition to the foundry zero running S01, Changjiang Automobile also produces miniature electric vehicles for the Han and Tang dynasty low-speed electric vehicle enterprises based in Weifang, which was established in 2010.

The total sales target set by Zhu Jiangming for 2020 is 50,000 units, of which S01 will reach 20,000 units and T03 will sell 30,000 units. “This is not difficult,” Zhu Jiangming said, “we can definitely enter the top ten of the entire new energy vehicle company.”

Lossless bottom hole

Li Bin said at the beginning of the establishment of Weilai, “There is no 20 billion don’t want to build a car.” Later, Li Bin admitted frankly that “this number is underestimated” and immediately fell into an endless “finding money” hard battle.

Compared to Weilai, which has a wealthy economy, the size of the zero running car seems quite shabby: in January 2018, it obtained the first 400 million yuan financing, in November it received the second 2.5 billion yuan financing, and in August 2019 The third financing of RMB 360 million was obtained in the month. Excluding the angel financing amount that was not disclosed in 2016, the total financing amount of Zero Running Car was only RMB 3.26 billion, and the total valuation was only RMB 7.115 billion.

Financial reports from the parent company Dahua Co., Ltd. show that in 2018, Zero Running Technology had a revenue of 1.22 million yuan and a loss of 307 million yuan. In the first half of 2019, revenue was 1.12 million yuan, with a loss of about 200 million yuan.

Regarding the fact that it lost money, Zero Running didn’t respond positively, only replying that “the company is operating well.” At the “2019 Global Future Travel Conference”, Zhao Gang said that the amount of zero running financing was 4 billion yuan, but currently only more than 2 billion were used, of which more than 1 billion was used for the construction of factories, and the rest were basically spent on autonomy R & D.

However, whether it is the S01 that has been mass-produced or the upcoming T03, it is impossible to verify on the issue of “independent research and development”.

As Zhu Jiangming often said, “I hope that one-day running will have the sales scale of tens of millions of vehicles like Toyota and Volkswagen.” Similarly, it is impossible to forbid speculation.