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Old 12-02-2018, 04:15 PM   #101
dmitra
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Default Re: Sichuan Yema Auto

Three new threads have been created for the T70/80, T60, and Spica families out of this one.

Note: Posts about other Yema legacy vehicles, show cars/unbuilt prototypes, and general discussions about the brand/company have been left back in this thread. Some posts were "entangled" (i.e. more than one model featured in the same post) and I have used my own discretion as to their appropriate placement in one of these four threads.
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Old 01-04-2019, 11:28 AM   #102
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Default Sichuan Yema Auto sale offer

In November, the Beijing Equity Exchange listed an open offer of sale for 990 million shares or 82.5% stake in an unnamed automobile company (link). The bid is open till January 22, 2019. The seller is not mentioned either. On investigating the details of the target company, the media realized it was none other than Sichuan Yema Automobile Co., Ltd., in which Sichuan Fulin Industrial Group Co., Ltd. (Fulin Group) holds 990 million shares or 82.5%. Other details like registered capital, date of establishment, shareholding percentages of secondary and tertiary holders also match with Yema's public information (see Yema's profile).

https://www.autohome.com.cn/news/201...vareaid=102624

A few months ago, we learned that Guangxi Automobile Group was interested in taking over a part of Yema. It now looks like Fulin Group is willing to let go all of what it owns in the company.

Note: In case one is wondering why the date of establishment of Sichuan Yema Automobile Co., Ltd. is January 12, 2011, when clearly we know about Yema cars from much earlier, that is because the current firm is a new one that replaced the older Sichuan Automobile Industry Group Co., Ltd., ("Chuanqi", est. 1994) which Fulin acquired and reorganized in 2002. Complicating matters, Sichuan Yema Automobile Co., Ltd. itself was originally named "Sichuan Automobile Industry Co., Ltd." from January 2011 till April 2015.

P.S.: The entire 82.5% stake that Fulin Group holds in Yema is pledged with a financial institution; therefore the sale is Fulin's only way to discharge its obligations (i.e. service loans) towards this FI.

Last edited by dmitra; 01-04-2019 at 11:43 AM.
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Old 01-07-2019, 11:48 AM   #103
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Default Re: Sichuan Yema Auto

Guangxi Auto's subsidiary, Liuzhou Wuling Auto, became overshadowed as an independent auto maker, following its wildly successful joint venture with SAIC and GM, early in the 2000s. And, Guangxi Auto's parts making activity rarely made news. However, all that may change if Guangxi Auto, with its "thousands of dealers" (according to Gasgoo), does go forward with an acquisition of Yema, which until now has been seen as no more than a ripple in the big ocean.
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Old 01-18-2019, 07:06 AM   #104
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Default Levdeo acquires Yema Auto

In a surprise move, China's largest LSEV company Levdeo has acquired 100% of Yema Auto within a month of Fulin Group's open offer. The deal is worth 1.4-1.5 billion RMB. A strategic restructuring agreement was signed today between Levdeo and Yema Auto.

http://www.sohu.com/a/289909274_383324
https://www.d1ev.com/news/qiye/86110
http://auto.sina.com.cn/news/hy/2019...z8867499.shtml


_____________

For those unfamiliar with the acquirer:

Weifang-based Levdeo is part of the even bigger Byvin Group, the leading player in the unregulated small electric vehicle (including two and three wheeler) market. The ultimate parent company, formally known as Weifang Byvin New Energy Technology Co., Ltd., controls a host of firms (through Byvin Holdings Group Co., Ltd.) producing and selling light electric vehicles under Byvin, Boloda, Kafit, and Dongxia brands, besides Levdeo.

Levdeo Auto mainly consists of three companies: Shandong Levdeo New Energy Automobile Co., Ltd., Shandong Meilade Energy & Power Technology Co., Ltd., and Shaanxi Levdeo Automobile Industry Co., Ltd. It is a prominent OEM body/chassis/component supplier to many other big and small electric vehicle manufacturers. In 2018, Levdeo inaugurated a new commercial vehicle factory in Xianyang, Shaanxi, after acquiring bus manufacturer Shaanxi Qinxing Automobile Co., Ltd.

The current acquisition will grant Levdeo access to Yema's four car and bus manufacturing plants as well as technology to produce mainstream products. It will also gain a second production qualification for both traditional fuel-driven and new energy automobiles.

Last edited by dmitra; 01-18-2019 at 08:32 AM.
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Old 01-18-2019, 11:11 AM   #105
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Default Re: Sichuan Yema Auto

So the promising Fulin(Yema) - Guangxi Auto partnership described in your CCF post of last April, will evidently end with this unexpected acquisition.

https://www.chinacarforums.com/forum...hlight=Guangxi

We are now reminded of yet another recent acquisition, of bus manufacturer Shaanxi Qinxing Automobile Co., Ltd., by Levdeo, that you reported here last June 2,2018.

Going forward, it appears that LSEV makers may now begin to make their mark on the wider industry.

Last edited by Lawrence; 01-18-2019 at 11:46 AM. Reason: addition to post
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Old 01-18-2019, 12:15 PM   #106
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Default Sichuan Yema Auto

We are still to see a formal document stating who is paying how much to whom, and how (and how soon) Fulin's financial obligations to FI/banks will be settled. Likely this played into the equation of choice of buyer, and the FI/banks wanted somebody who could put cash down quickly on the table and was/were not satisfied with the terms of (or cash flows associated with) the "cooperation agreement" with Guangxi Auto Group.

Last edited by dmitra; 01-18-2019 at 12:33 PM.
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Old 06-26-2019, 02:46 AM   #107
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Default Levdeo NEVs

Levdeo will introduce three NEVs in the coming months.

i3 hatchback, codename SC3, based on Levdeo S70
i5 sedan, codename EK3, based on Levdeo XiaoQishi
i9 SUV, codename C10E, based on Yema EC60

http://news.bitauto.com/xinchexiaoxi...909455815.html
http://info.xcar.com.cn/201906/news_2039901_1.html
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Old 07-03-2019, 06:54 AM   #108
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Levdeo i9:

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https://www.autohome.com.cn/news/201907/938888.html

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Levdeo i3:

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https://www.autohome.com.cn/news/201907/938482.html
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Old 07-08-2019, 01:19 AM   #109
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Default Re: Sichuan Yema Auto

Levdeo i5:

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https://www.autohome.com.cn/news/201907/939137.html

Regular readers of this forum will not be unfamiliar with (variants of) this car or its interior.
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Old 07-17-2019, 01:24 PM   #110
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Levdeo i3, i5, and Byvin E3* (all based on LSEVs) gain NEV type approval under Yema license.






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http://www.miit.gov.cn/datainfo/viewCar?carId=264307#
http://www.miit.gov.cn/datainfo/viewCar?carId=264760#
http://www.miit.gov.cn/datainfo/viewCar?carId=263803#
http://www.miit.gov.cn/datainfo/viewCar?carId=263865#
http://www.miit.gov.cn/datainfo/viewCar?carId=264213#

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*E3 is based on Byvin Lingshang (see Mini EV thread)
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