Chapter 1333 Policies are too tight

   "Oh buy Karma!"

   Exxon's mouth is big enough to swallow an egg, no matter how imaginative he is, he can't associate the price of one hundred thousand dollars with Wuling, which sells for several thousand dollars.

  China Tesla?

   The whole car is not worth the battery pack.

   He felt that Xia Jingxing was lying to him, and he already had the evidence.

   "Daren, this joke is not funny at all. It is difficult for Wuling to become a new energy vehicle. They don't even understand the technology of fuel vehicles, and they still want to introduce our general car technology."

  Xia Jingxing nodded lightly, "I know this, that's why I said the ticket is big.

  I plan to invest 30 billion yuan in the future to make new energy vehicles in China.

  China's car demand is so great, and its oil reserves are also small, electric vehicles are desperately needed..."

   Exxon listened patiently. After listening, he had nothing to say except for the scolding of the United States.

   The other party directly invested four or five billion US dollars in order to realize a phantom new energy vehicle dream.

   He believed that Xia Jingxing could spend such a large sum of money, but the point was that it was not worth it!

   SAIC-GM-Wuling's annual net profit is only one billion yuan, and it takes twenty years to earn back the investment of 30 billion yuan.

   And after Wuling transforms into new energy vehicles, can it still sell as well as it is now? Can it be sold so cheaply?

  China's Tesla, I am afraid it will be dragged down by the cost.

   It is said that Tesla in the United States is currently more gimmicky than practical, and the marketing is doing well, but few cars have been sold.

   "Daren, I respect your "Chinese Tesla" dream, but I don't recommend you to experiment with Wuling.

   It is one of the few excellent car brands in China and should not be taken for risk.

   And I believe that the Guizhou Province and the Modu Government and Assets Supervision and Administration Commission will not accompany you to take this kind of risk. "

  Exxon looked straight at Xia Jingxing, "GM won't support you either! I suggest you just start from scratch with Fuxing Auto, isn't that the case with Tesla?"

  Xia Jingxing smiled, "Thank you for your suggestion! But you guessed wrong, both Gui Province and Modu are cities with dreams, they are still willing to accompany me crazy..."

   When Xia Jingxing said that the other two shareholders had decided to sell their shares to Fuxing Automobile, Exxon was very angry.

   "They are in breach of contract! As a shareholder of the company, GM has the right of first refusal!"

  Xia Jingxing waved his hand, "Mr. Exxon, don't be angry yet, isn't this still for sale?

   I invite you to come to the magic capital, I hope you can be "adult beauty".

   If GM is unwilling to sell equity, it doesn’t matter, you and I will continue to maintain a good cooperative relationship and work together to build China’s Tesla. "

  Exxon's mouth twitched, who wants to cooperate with you to build China's Tesla?

   He understood that Xia Jingxing had a vicious intention. If GM did not sell shares to Fuxing Automobile, he would drag GM into the bottomless pit of new energy vehicles.

  GM has stepped on a pit in new energy vehicles in the 1990s. It can be said that it has been bitten by snakes again and again. For ten years, it has been afraid of well ropes and no longer dares to invest indiscriminately.

   What's more, GM's debt is now at the top, and it will soon declare bankruptcy, and it will not agree to invest in new energy vehicles.

   Universal does not have the strength to accompany Xia Jingxing crazy!

   But for Xia Jingxing's plan to succeed, there must be a premise, that is, Gui Province and the Modu Government and Assets Supervision Commission sell their shares to Fuxing Automobile.

  Thinking of this, Exxon said: "Daren, are you so sure that GM can't buy Wuling?

  Although GM is facing difficulties now, I believe that creditors will definitely support us in acquiring a Chinese car company with unlimited potential, which will be beneficial for us to get rid of debt and re-list in the future. "

  Xia Jingxing nodded with a smile, how could he not understand, hype up the concept of China, deceive creditors into debt-to-equity swaps, these are Wall Street's forte.

Exxon in front of    is a master of capital operation. He used to be the general manager of Carlyle Group and the head of global acquisition business, and managed more than 50 billion US dollars in assets worldwide.

It is precisely because of its impressive achievements in the past that it was favored by the U.S. Treasury, GM’s largest creditor, and was promoted to the GM board of directors. .

  Xia Jingxing said lightly, "But you are foreign capital, and your shareholding ratio cannot exceed 50%."

  Exon was at a loss for words, and immediately fell into deep thought.

   Xia Jingxing was referring to the "Automobile Industry Policy" released in 1994, which set a cap of up to 50% of the shareholding ratio of foreign companies.

   This is also the so-called "open market for technology".

  If there are no restrictions, and foreign car companies are allowed to enter the domestic market casually, domestic car companies will die collectively before they grow up.

   Like banking, insurance and other financial industries that are limited to foreign investment, this is also a policy to protect the domestic auto industry.

   The deepening reform of the auto industry will not be lifted until Tesla enters China in 2018, and the restrictions on the shareholding ratio of foreign new energy vehicle companies will be lifted. As for ordinary passenger cars, it may take a few more years.

  Xia Jingxing kept a faint smile on his face, this policy was his magic weapon for taking control of Exxon and GM.

   No matter what GM does, it will not be able to control SAIC-GM-Wuling. When Fuxing Automobile takes over, it can only follow a path to the dark.

   Either jump now or jump in the future, there is no other choice.

  Exon felt extremely depressed in his heart, because he was indeed pinched by Xia Jingxing's words.

   "Dalan, Wuling needs our car technology very much, they have always wanted to build their own car."

  Exon felt that he didn't have any heavyweights in his hand, so he could only talk about technology transfer.

   "It doesn't have to be a Buick Excelle, doesn't Tesla design its own sedan?

   As long as the investment is in place, none of this is a problem. "

   Exxon frowned, Xia Jingxing was not like a civil servant in Gui Province, he didn't like his tricks at all!

   And the other party is right, as long as the money is in place, can’t you buy some second-hand outdated technology?

   "Mr. Exxon, by selling the shares to Fuxing Automobile, we can give GM a satisfactory offer. This money is a very valuable cash for the troubled GM.

   At the same time, creditors will definitely give you more time to restructure after realizing the universal embedded value. "

  Exon didn't say a word, and it felt very uncomfortable to be manipulated. He wanted to express his dissatisfaction in this way.

  Xia Jingxing didn't seem to see the ugly face of the old man, and continued to say: "GM's unnecessary technologies and assets, Fuxing Auto and even Vision Capital can also help to take over one or two to ease your debt pressure."

   "This may be your real purpose, right? You want to sell the Buick Excelle car technology to you after GM sells its shares!"

   Exxon looked at Xia Jingxing coldly, he could understand how shameless the other party was.

  Forcing GM to sell its shares is not considered, but also wants to get the GM technology that Guishen and Wuling fancy.

   "This is a win-win for both of us, it's useless for you to keep it anyway.

   Of course, if you don’t want to sell it, it’s fine. I’ll go to Europe to see it again. Someone should be interested in this kind of transaction. "

  Ackerson sneered: "SAIC-GM-Wuling's factories, production lines and even the vehicle development process are built according to GM's standards. The technology of Buick Excelle can be used in the past, and can it be acquired from other car companies?"

  Xia Jingxing smiled and nodded, "It makes sense, but GM will not cooperate with Wuling in the future, and it may be inappropriate to produce cars according to your standards."

   Exxon felt helpless for Xia Jingxing's slipping.

   He sighed in his heart and said, "Daren, GM and SAIC-GM-Wuling have always maintained a good cooperative relationship with you.

   Even if GM withdraws as a shareholder of Wuling, I think there is still a lot of room for cooperation between us. "

  Xia Jingxing smiled, the old guy finally recognized the reality, it was worth saying so much.

   At this stage, Wuling is not very convenient to transform into new energy sources, and it has to build fuel vehicles for a few more years.

   Then it is a waste of resources to build a miniature car, and you have to build two cars, right as a practice.

   (end of this chapter)