Chapter 125: A New Rocker
The three North American auto giants, GM, Ford and Chrysler, can enjoy the US government's open-door bailout, while the rest of the automakers can only eat the closed door. Even if Japanese and European automakers such as Toyota and Volkswagen set up factories in the United States to provide a large number of jobs, they still cannot enjoy the same relief treatment.
Each goes back to his own house, and each finds his own mother.
The Japanese and European governments have launched bailouts for local companies, making Toyota and Volkswagen feel warm at home.
But there is still a baby that has not been found, you must know that even Toyota, a sumo wrestler, could not survive the subprime mortgage crisis, and the unweaned baby was even more hungry and screaming.
Tesla, as a new Internet car manufacturer, focused on asset-light operations from the beginning, and there were no traditional factories under its name, only studio-sized workshops, which made the U.S. government, accustomed to looking at traditional cars, not know how to deal with this new hybrid.
Musk, as the CEO of Tesla, has been lobbying for Tesla to be included in the relief list since he heard the news of the U.S. government's decision to bail out the auto company, hoping to get a $51 billion loan for the company's development.
But the George W. Bush administration is very skeptical of Tesla's ability to repay, knowing that Tesla has no other eye-catching products other than the Roadster, which is not a successful semi-production model, and hundreds of millions of dollars in loans are likely to be burned out into bad debts. Therefore, Tesla is an abandoned baby under the large-scale bailout of the US government.
Fortunately, the *** government with the slogan "America needs to change" came to power, and they are very interested in the future of green energy and think that they want to give Tesla a chance.
But before that, Tesla must prove that it has the ability to repay the U.S. government's loans in the future.
To put it more bluntly, Tesla has to come up with a viable product and prove that it is on the right track.
"You have to convince the public, and even more so some members of Congress, that Tesla is not a liar, but a real car manufacturer. ”
The U.S. Department of Energy official, who is in charge of bailing out car companies, told Musk very bluntly what he should do.
To this end, Musk decided to launch a new electric car that can be mass-produced, and began to move towards the road of heavy assets, building a super manufacturing factory that integrates batteries and vehicles.
But until then, Tesla needs at least $50 million in R&D and operating funds to tide over this difficult period and accelerate the development of new models that evolve on the roadster.
In the subprime mortgage crisis, the major auto giants have tightened their pockets due to sales losses, Wall Street investors have suffered heavy losses and cannot afford to invest abroad, and it is even more difficult for Tesla to find $50 million in life-saving money.
I wanted to get a mortgage from the bank but found that Tesla had no fixed assets for the bank to need, except for talents and patents, after all, Tesla's cumulative losses were as high as more than $300 million, which scared away many investors.
A penny is forcing heroes to death, banks don't lend, venture capital stays away, and Tesla, which is short of money, is almost ready to usher in the dawn in one breath.
At this time, Musk remembered Han Hao, an old Chinese friend who had just swallowed Volvo for $1.8 billion in the United States, others have no money, but China's richest man must be rich.
The relationship between Tesla and the Zhonghua Group is like Xuanzang's westward journey to learn the scriptures, and the Buddhism has been carried forward in China, even beyond India, the birthplace of the scriptures.
The technology of new energy vehicles was first applied on a large scale in China by Zhonghua Group, and many original technologies were obtained, which began to feed back to Tesla, and the two sides cross-authorized each other in intellectual property rights.
There is no need to bother to explain the technology and prospects of electric vehicles to Han Hao like other investors, and he has always known the development process of Tesla, and the Chinese can be said to be the most suitable investors.
However, due to vigilance, Musk has always kept a distance from Chinese capital, and used to want to squeeze Han Hao out of Tesla, but now he is in a hurry to go to the hospital and has to go to China again to find life-saving medicine.
Because in his heart, Musk has always regarded the China Group as his biggest confidant and enemy, and one day the two may face off on the battlefield in the future.
But Musk must keep Tesla alive in the present before he can think about the future.
Han Hao returned from Sweden, Musk has been anxiously waiting in Jiangzhou for two days, it seems that he has pinned his last hope on the Chinese.
Musk is a whimsical and creative genius, he is a typical representative of the industrialization of Silicon Valley in the United States, and Han Hao knows the purpose of his trip to China for help.
Originally, Han Hao was ready to decouple the China Group and Tesla, because Tesla's technology Chinese have mastered the best and can no longer be involved with each other.
However, if Zhonghua Group entered the U.S. auto market, Han Hao found that Tesla was a good partner, and Tesla had a unique influence among the high-end crowd, and could borrow arrows from grass boats to build momentum for Chinese automobiles.
At present, the U.S. auto market is temporarily in chaos, and if Chinese cars want to enter, they must use unconventional means to land.
It took 30 years for Korean cars to enter the U.S. market, spend huge sums of money to sponsor major sports and entertainment events, and play the big move of "10 years and 100,000 miles" warranty, so that local consumers gradually accepted Korean brands.
If Chinese cars are to enter the United States like South Korean cars, it will take a long time in addition to huge investment, and the Chunghwa Group cannot wait.
Tesla's market strategy has given Han Hao a great reference, relying on positioning the high-end market to establish and maintain the brand image, and then obtain enough profits through high-premium products, and then develop product lines from high to low, so as to occupy a new market.
When Han Hao plans to enter the U.S. market, he will take the lead in debuting as a high-end pure electric vehicle, bundling the products of Zhonghua Group with Tesla, so that American consumers can know that Chinese cars are high-tech products. First, the small-scale launch of pure electric vehicles to establish an image, and then began to expand the market in the field of hybrid power, so as to distinguish itself from traditional power companies and seize a relatively blank market segment. Finally, in the field of traditional power, the mature products of Zhonghua Group were introduced, and they began to build factories in the United States to grab meat to eat.
With the same technology, Tesla sells supercars, while Chunghwa Group sells family cars. The hotter Tesla is in the market, the more recognized by consumers will become. In addition, Tesla is not among the three major American auto giants, and the cooperation between the China Group and Tesla will not suffer opposition from the US government.
Therefore, in the Jiangzhou talks between Han Hao and Musk, both sides have small calculations in their hearts, but they have to support each other.
Musk needs Han Hao to invest $50 million, but he can't make Chinese a major shareholder, and he must maintain his controlling position of about 0%. Han Hao hopes that when the Zhonghua Group attacks the U.S. market, Tesla will use technology to endorse Zhonghua Automobile and become an alliance partner.
"Are you really going to enter the U.S. market? It doesn't seem like a smart choice. General Motors, Toyota and other leaders will beat your Chinese cars to the ground. ”
Musk listened to Han Hao's introduction to enter the US market, and his first reaction was that the Chinese would not succeed.
"That's why I need you, the new head snake, to help at the right time, the more we fight with GM and Toyota, and disrupt the U.S. auto market and break the equilibrium, the more opportunities you Tesla will have.
In addition, we are allies in the promotion of new energy vehicles, and if we do not break the blockade of traditional auto giants, Tesla will not have a bright future. In addition, we can share the investment in fixed assets such as batteries, car production lines, and charging piles, so that the benefits of the alliance are better than the losses of confrontation.
I know what you're worried about, afraid that in the future the two of us will have to compete directly in the market, but you don't forget that the U.S. car market share is more than 10 million vehicles, and the first thing we have to deal with is the traditional car giants. What's more, Tesla has always been high-end positioning, which is obviously different from our low-end family sedan. For example, no matter how powerful Toyota is, it can't compete directly with Mercedes-Benz, and the products are not on the same level. ”
Han Hao's reaction to this was expected, and he calculated that Tesla would not refuse his request.
"You're going to lower our Tesla's high-end image!"
Musk struggled to find a reason for himself to reject Han Hao's proposal.
"I'm just stating the facts, it's true that the technology we use is much the same, but you go the high-end route, and we pursue more economical and practical.
To dispel your concerns, we can use the Chinese model to conquer the United States, which is to set up a joint venture. You can take a stake in our U.S. company and share the benefits and risks in the future. ”
Han Hao found that the joint venture model is quite good, not only applicable to developing countries such as Russia and India, but also to the United States, the hegemon of the earth.
"That's a good idea!"
The smart Musk quickly thought of the benefits, and investing in the name of Tesla can justifiably stand for the Chinese. If the company develops well in the future, Tesla will also have benefits, and it can get out as soon as possible if the situation is not good. What's more, he must get life-saving funds for his trip to China, otherwise Tesla will not live to see the sun tomorrow.
In the end, Han Hao and Musk reached a cooperation agreement.
Tesla received $50 million from Han Hao's personal investment, but the Chinese stake was limited to 15%, second only to the 18% stake of major shareholder Elon Musk. Musk promised that Tesla would be successfully listed within 5 years, otherwise he would bear $10 million and 10% of the company's shares in VAM compensation.
In the future, when the North American branch of Zhonghua Group is established, Tesla has the right to subscribe for no more than 0% of the shares, and needs to endorse the technology for the promotion of Zhonghua Group.
The two companies will carry out in-depth cooperation in battery plants, automobile manufacturing plants, charging pile network layout, shared production lines and parts suppliers.
The agreement is valid for 6 years and will be adjusted in the future as appropriate.
The Chunghwa Group will use Tesla as a rocker to enter the United States, so the Chinese are also involved in the development of Tesla's new model "S Project", just hoping that it can be launched as soon as possible.
Reading is exciting, reading is wonderful!
(. = )