Since 2018, domestic new energy vehicles suffered a downward market environment, came in 2019, from an overall the situation is not optimistic, at the same time, sales of new energy vehicles in the face of the emergence of shock, power battery business also broke problem after another two three, while battery companies are faced with product quality and safety, waste battery recycling and how the subsidy era back slope collapsed and other problems.
December 19, the second instance proceedings BAK Battery debt and Huatai Automobile formal hearing, with public Motors is also related litigation is still in progress. Related court documents show, BAK Battery and public Motors debt litigation involving an amount of 616 million yuan, Huatai Automobile is owed money to 263 million yuan and interest.
while the case against the debt can not be recovered from, BAK Battery is also facing upstream firm to its debt collection act early November this year, Hang can science and technology, accommodate 100 science and technology, science and technology than when the number of liters upstream suppliers grams batteries, tips for risk BAK battery notice accounts receivable. According to the newspaper the next car to incomplete statistics, BAK Battery upstream suppliers of bad debt has more than 500 million yuan.
In addition, December 6 Beijing when l Material Technology Co., Ltd. reply letter referred to the Shenzhen Stock Exchange inquiries, BAK Battery, BAK Battery Co., Ltd., Zhengzhou first repayment schedule could not repay in full, and the gap is large, we believe that there is still the risk of a subsequent repayment schedule can not be honored.
and the debt of public Motors
In fact, as early as 2016, BAK Battery and public Motors reached a supply agreement, that time is the early start of new energy vehicles, public Motors too many times before and after , payment to the BAK battery. But since the 2017 pay the first installment payment, the Thai public aspects began to cash flow tension grounds owed money, repeatedly promised during the repayment period, but did not cash.
Therefore, in 2019, the public Motors BAK Battery court. But after discussion, the public Motors expressed their willingness to settle, and signed an agreement with the BAK Battery. But after the withdrawal, not as BAK Battery receive about payment. In September, electricity BAKTai Ti from the pool of all the second lawsuit.
At present BAK Battery has applied to the court to freeze public Motors more than 40 million yuan of assets, the Thai public debt guarantees provided by the parties. As of July 10, 2019, the Thai public money owed a total of 545 million yuan BAK Battery, BAK Battery also requires public Motors and its subsidiaries to pay liquidated damages for late payment of about 071 million yuan, a total of 616 million yuan. At the same time
litigation and Thailand are still deadlocked
and public Motors initiated litigation, and litigation Huatai BAK car still in the deadlock, the BAK Battery side said, with Huatai automobile related litigation has been in favor of first instance, Rongcheng Huatai 261 million yuan to pay the purchase price and interest, Huatai will bear joint liability of the latter. But then, China and Thailand challenged the first instance verdict, and apply the second trial.
In order to ensure the effectiveness of their claims, BAK Battery has applied for the freezing of Bank of Beijing Huatai Automobile Group Co., Ltd. held, dawn shares of two listed companies and dividends. However, according to public information, Huatai car worrying status quo, probably shut down the plant in more than a month before, while the R & F Properties announced Huatai Automobile and cancel cooperation. Since last year, Huatai Automobile has been discovered a lot of rumors, all kinds of cut-off information, messages, etc. Wages continue.
The count of Thailand and the Thai public of 616 million 261 million, currently about BAK car almost 900 million of accounts receivable could not recover, which we also see as an intermediate link battery, on the whole industry chain downstream businesses are at stake, not only creditors but also debtors.
battery reshuffle acceleration
In addition to the BAK Battery, many battery companies in crisis. Big old battery OPTIMUM into liquidation, another battery companies lion Hubei has also been liquidated. Data show that the first quarter of this year, shipments also ranked BAK Battery fifth place, ranking has fallen to October sixteenth. Reason
In addition to being owed money influence, power battery market freeze is fading BAKOne. In October this year, the installed capacity of the battery power is about 4.07GWh, 31.35 percentage decline year on year, this is the battery installed capacity consecutive month of decline year on year.
Therefore, the new energy vehicles, including battery pack manufacturers are faced with a large-scale reshuffle, but in recent years, power battery industry chain is gradually shift from policy-driven to market-driven, so that power battery industry also appeared overall excess capacity, and structural capacity planning and other short board, resulting in battery market competition more intense.
and in the case of subsidies to speed up the slope back, power battery industry chain enterprises’ profits are directly affected, many enterprises are facing difficulties revolving funds, many upstream and downstream industry chain are also subject to greater influence, not reflux in the capital.
wrote at the end of the text
automotive battery industry is facing a re-shuffle, you can see, such as BAK Battery, battery manufacturers, in the face of under-funding are still unable to parry, led money is not on its upstream, downstream or else the status quo money back, so the head can not compete with the battery companies, forming a vicious cycle of death.
With the implementation of new energy automotive industry the latest subsidy back slope policy, new energy vehicles and their related industrial chain will also receive a certain influence, account of the battery business will only get longer even the once giant company, it will inevitably be eliminated on the market.