Car and home SEV projects that have been hatching for two years have confirmed miscarriage!

Not long ago, it announced the completion of a round of financing of 3 billion yuan (renminbi) B round, and the car and home of the joint venture with Djidai recently revealed a major adjustment.

Recently, Mr. Li, the founder of the car and family, confirmed in an interview with a domestic media that the two-year-old SEV project in the car and his home has stopped, and his plan to enter the Paris, San Francisco time-share leasing market was temporarily suspended. At the same time, the vehicle and home vehicle manufacturer in Changzhou is currently renovating the SEV production line to make it suitable for the production of another product line, the medium-to-large SUV.

In fact, as early as the end of January this year, the industry began to spread some news about car and home suspension of SEV projects, and some suppliers said that the car and home canceled their orders for SEV parts.

At the same time, changes in personnel caused by the eve of the suspension of SEV projects are also emerging. On February 25th, a proprietor who claimed to be a “car and home intern” stated in a document that in early January 2018, a car and home project was stopped due to legal and other reasons, including his own 80- 100 interns and some older employees were dismissed.

Someone in the industry said at the time that "a company's legal policy and other reasons, a project is stopped." In logic, it should be that the SEV project was cut.

At the same time, there is also a self-proclaimed "car and home HR," the main responder said that due to some recent adjustments in the business, some intern positions have changed, and said they would do their best to follow-up work.

The dismissal of the interns is small and the suspension of the product line is big. As a start-up company, at the beginning of the establishment of the car and home, a total of two large-scale and small-sized vehicles were planned and designed to produce SEVs and SUVs. Among them, SEV products last for about 100 kilometers and the speed does not exceed 45 kilometers per hour. The design is based on the European L6e standard. Such models are known as low-speed electric vehicles in China. Due to differences in interests, domestic low-speed electric vehicle regulations are difficult to produce, and some government departments explicitly oppose the legalization of low-speed electric vehicles.

Previously, Lee wanted to say at an industry forum that when cars and homes started to make the first electric vehicle product SEV, judging that China's low-speed car regulations could be released as early as 2016, it was not seen in 2018. In order to solve the problem of entering the market, Lee wanted to be forced to take SEVs to Europe for time-share leasing, because low-speed cars have road rights in Europe and the United States. However, Lee did not insist on this step.

On March 22, Car and Home announced a strategic cooperation with Didi Travel. The two parties will jointly invest in the establishment of a joint venture company and form a team to custom produce smart electric vehicles for sharing travel scenes.

For the final decision to shut down the SEV project, Lee wanted to explain that "SEV is a product created by vehicles and home travel scenarios. We judge that cooperation with Didi is 10 times better than using SEV. So from a corporate strategy, we Choose to cooperate with Didi."

It also stated that “the investment in vehicles and homes on SEV projects only accounts for a small amount of accumulated financing today, but continued depletion will undoubtedly allow cost investment and team energy to be dispersed.”

At present, the SEV project still has some “aftercare” work that needs to be addressed. The car and home Changzhou plant has invested 2 billion yuan in the first phase and has planned production capacity of 200,000 years. It was once used to produce SEVs. The production line is being transformed to make it suitable for production of SUVs for production cars. The second base, originally planned for SUV, was temporarily stagnant.

When a number of start-up companies, such as Weilai, Weima, etc., which have risen in the same period as Car and Home, have gradually entered the stage of mass production delivery, the abortion of the first production car project of the car and the home will be on its way to production. It will inevitably have a significant impact. In addition to the cost of capital and labor that will be consumed, what is more important is the loss of time. Some analysts believe that the window period for newly-built automakers to concentrate their capital, policies, and resource advantages may be shut down by 2020. Subsidies will be used to retreat, and traditional auto makers will catch up and the competition will become fiercer.