Rational analysis, the more hopeless.
Unlike the last entrepreneurial project in mobike, Xia Yiping failed to get a decent ending in the extreme.
The "in-situ dissolution" of Extreme Yue may have brought the biggest traffic to the brand since its establishment, and the incident is still continuing to ferment.On December 16th, Xia Yiping, CEO of Jiyue, published a long article in the circle of friends, clarifying the rumor of "running away" and reflecting on all the mistakes made in the process of starting a business. "Wrong, it’s all my fault".
Extremely more recent can cause such great concern, which has a lot to do with the sudden dissolution.Prior to this, Weimar, Gaohe and other closed new car companies had never been dissolved so quickly.
There are different opinions about the whole incident. Beyond the complicated information, the next question that the outside world cares about is, is there a future in the extreme?
Dissolution in situ is a "forced palace" Baidu?
Simply put,The reason why I can’t support it is that I have no money.And Baidu, the dominant shareholder, does not intend to continue investing.
It has been reported that Jiyue owes several billion yuan to Geely and Baidu for OEM fees and smart driving programs. In addition, many suppliers have issued open letters to Extremely Vietnam asking for arrears.
"Financing should have been my most important duty, but I was too optimistic in the early days and did not foresee the seriousness of the funding problem." Xia Yiping pointed out in a long article.
However, from another perspective, Baidu and Geely, as major shareholders, should have blood transfusions when they are in extreme difficulties. So,Whether Xia Yiping’s description of financing is a reflection or a "connotation" of major shareholders can be interpreted in many ways.
From 2021, Baidu officially announced the construction of a car, and now it has ended hastily. There seems to be a trace of the extreme failure, which itself is a twist.
As the dominant party, Baidu did not take a firm attitude in building a car. Li Yanhong himself did not intend to personally lead the team to build a car, which is very different from Lei Jun and Li Bin. For such a complicated car-making project, the person in charge of the enterprise personally leads the team and still has a high probability of failure, let alone being a "hands-on shopkeeper".
Geely, another shareholder, is more like a foundry. At present, it is catching up with Geely’s strategic contraction, and naturally it will not make a big deal on the new round of financing. Geely has many brands in its own layout, and it seems that it will not have enough time to worry about this "illegitimate child".
Xia Yiping, the helm of Chaoyue, is more like a professional manager than an entrepreneur. Although Xia Yiping pointed out in his long article that he invested "the savings accumulated in his last venture" in Vietnam, he regarded himself as "a real entrepreneur." But in any case, he is more like the deputy of the shopkeeper Li Yanhong. Xia Yiping is naturally to blame for the financial crisis in Vietnam, but he also has a passive place.
Therefore, regarding the abnormal operation of "dissolving in place", there are also interpretations that this is a "forced palace" for Baidu. When a mass incident such as "extreme employees ask for salary" and "car main statement" broke out, Baidu had to come forward to take out funds to solve the problem.
Fortunately, some issues that employees and car owners are concerned about finally got an official response. On December 13, Baidu Holdings and Geely Holding issued a joint statement, which will cover the dissolution of the company and solve the problems including the disposal of employees and the after-sales of vehicles. According to the public information released by Yang Xueliang, senior vice president of Geely Holding Group, Geely is responsible for the after-sales service of vehicles.
Is there a future for Ji Yue?
After the crisis in Vietnam, outsiders have given up much hope for the future of this brand.However, there are still some entrants, such as the staff and the owner of the company, who still have a little "fantasy" about the prospect of the company.
Can Ji Yue still hold on? We can find some answers from the joint statement of Baidu and Geely and Xia Yiping’s long article.
Judging from the statements issued by Baidu and Geely Holding, it is already an attitude of "taking care of the aftermath", and the focus has been put down on dealing with matters such as employee social security payment, the aftermath of resigned employees, and after-sales maintenance of vehicles. For financing and other important measures to support the development of enterprises, the two major shareholders did not mention a word.
As for Xia Yiping’s long article, there is no substance except reflection. "I have learned a lot of lessons that will be used in the future development of the company or other entrepreneurial growth in the next step." He pointed out in a long article. Considering that Xia Yiping has made many mistakes in the development of the company, if there is a bright future, it is highly probable that it has nothing to do with him. So,The "future development of the company" mentioned in the long article is false, and "other entrepreneurial growth" is true.
Is there a way out for the enterprises that the major shareholders and the top management have given up? The answer is self-evident.
In this regard, Yang Yueqing, the project director of Gaohe Engineering, who is a "experienced person", has previously released a video to give suggestions to the employees: you can leave early and don’t have illusions.
Then, from the perspective of other external investors, is Extreme Yue a good target?
First of all, Extreme Yue is not a strong brand in the market. At present, Extreme Vietnam has launched two models, 07. The product itself has some remarkable advantages, such as product quality and design, but the design without door handle and half steering wheel has also caused a lot of complaints. The market performance of the two cars is not good, which basically belongs to the existence of small and transparent rims.
In addition, the receiver has to face a thorny problem:If Geely is no longer OEM, the problem of the qualification of making a car in Extreme Vietnam needs to be solved.Previously, the ultra-Vietnam has experienced the replacement from "concentration" to "ultra-Vietnam" in order to avoid the qualification problem. This adjustment has also wasted a lot of publicity resources. If new investors are introduced, the brand name of "Jiyue" registered by Geely may have to undergo another replacement.
From the perspective of the big environment, the car has also been at the end of the tuyere. In March 2021, Xiaomi, who officially announced the car, was called the last entrant in the industry. If investors want to take over at this time, they really need two brushes.
Write at the end:
In this round of crisis, employees and car owners may be the most injured groups. Many people were still working overtime the day before, or celebrating the new car. The next day, the company suddenly dissolved.
Judging from the current situation, Ji Yue is not the first new force car company to explode mines, and it will not be the last one.With such a "lesson from the past", I only hope that consumers and "workers" can do less harm in similar incidents in the future.