November 29, 2022

In April this yr, Nationwide Industry Day by day reported that JuneYao Crew, a most sensible 500 corporate in China, has turn out to be the real controlling shareholder of Yudo Automotive, which used to be showed on September 2.

On August 30, a Yudo spokesperson informed media that, “The becoming a member of of JuneYao Crew is step one taken by way of Yudo Automotive within the financing procedure.”

Consistent with resources acquainted with the topic, prior to April 20, JuneYao Crew signed an settlement with Yudo Automotive to turn out to be its precise controlling shareholder.

JuneYao Crew is a contemporary carrier endeavor specializing in business investments. Based in July 1991, it has shaped 5 trade segments: air delivery, monetary services and products, trendy intake, schooling services and products and clinical and technological innovation. Within the checklist of the highest 500 enterprises in China in 2021, it ranks 199th with an annual source of revenue of 31.93 billion yuan ($4.6 billion).

An individual on the subject of Yudo Automotive disclosed that JuneYao Crew has arrange a brand new automotive group after taking up the automaker. One of the most major causes JuneYao Crew has taken at the position of turning into Yudo’s greatest shareholder is to make use of the latter’s manufacturing {qualifications} and manufacturing bases for brand new power cars.

“If it is Yudo’s emblem affect or marketplace positioning, it does now not comply with JuneYao Crew’s positioning.” Consistent with other folks acquainted with the topic, one day, JuneYao will promote cars beneath its personal automotive emblem, and Yudo will produce them.

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As one of the crucial earliest new power car makers within the nation, Yudo has finished the method of R&D, supply and after-sales prior to the goods of NIO, XPeng and Li Auto have been heavily produced. In 2018, Yudo accomplished a gross sales quantity of 9,300 new vehicles and a supply fee of 100%, subsequent best to NIO.

Alternatively, after that, Yudo started to stagnate as its gross sales quantity fell. Its web benefit used to be -138 million yuan in 2018 and -177 million yuan in 2019. By way of 2021, losses reached 213 million yuan. As of March 31 this yr, its overall liabilities sat at 1.682 billion yuan.

Because of monetary issues and suspensions of manufacturing, lots of Yudo’s staff have the corporate over the past two years. In 2021, Yudo executives defined the slowdown, announcing: “The corporate’s suspension of manufacturing is principally suffering from battery provide. Now now we have drawn up a brand new battery procurement plan. It’s anticipated to renew manufacturing across the finish of June 2022.”

Due to the capital injection from JuneYao Crew, Yudo has resumed paintings and manufacturing in July. On July 26, π1 Lite, the primary type to be finished after the corporate resumed manufacturing, formally rolled offline. By way of the top of August, the collection of staff of Yudo has expanded once more to almost 1,000.

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Consistent with the plan, this yr, Yudo will best produce one type – the π1 LITE. It’ll have two more recent fashions in 2023, with a price ticket of about 100,000 yuan. Someday, the cost of Yudo’s cars will progressively upward thrust to about 150,000 yuan.

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