Taiwan Yulon Group was founded in 1951. It is currently the largest automobile group in Taiwan and is known as the "King of Cars" in Taiwan. Yulon Automobile Manufacturing Company was established in 1953, and China Automobile Company was established in 1969. Over the past few decades, a system of key automotive parts factories has been established to further deepen the layout of the automotive industry. Nazhijie is a sub-brand released by Yulon Group in 2009. As the largest local car brand in Taiwan Province, Yulon also wants to go global.
There were many attempts before Dongfeng Yulon. In 1996, Yulon wanted to cooperate with Xiamen Automobile (the predecessor of King Long Automobile ) to produce the "Fumanduo" van. In 2007, Yulon Motors withdrew from the King Long Automobile cooperation project.
In 2000, Yulon and Dongfeng Motors established Guangzhou Fengshen Motor Company. In 2003, Nissan and Dongfeng entered into a comprehensive joint venture, and Yulon withdrew from the Dongfeng project.
In 1995, Yulon's subsidiary China Automotive Industry and Fujian Automobile's joint venture Southeast Automobile had experienced low sales in recent years and almost stopped production. China Industrial also reduced its shares in 2021, currently retaining only 5% of its shares.
The joint venture stumbled at the beginning. From 2008 to 2010,
- initially cooperated with Zhongyu Group
. On February 24, 2008, Tong Jiangliang, President of Zhejiang Zhongyu Group, and Yan Kaitai, Chairman of Taiwan Yulon Group, officially held the acceptance ceremony in Xiaoshan Kaiyuan Mingdu. Signing ceremony for Zhijie (Hangzhou) automobile production project. After multiple comparisons, the group will consider Linjiang as the first choice for setting up its headquarters.
On December 18, 2008, the unveiling ceremony of the global manufacturing base of Luzhijie Automobile was held in Xiaoshan Linjiang Industrial Park. Honorary Chairman of the Kuomintang Lien Chan and his wife Lian Fangyu, and Vice Chairman of the Kuomintang Lin Fengzheng attended the unveiling ceremony. Li Bingcai, vice president of the ARATS, and leaders of relevant national ministries and commissions and provincial departments attended the unveiling ceremony. The first phase of the joint venture project covers an area of more than 1,600 acres, with an investment of more than 3 billion yuan. It has a designed annual production capacity of 120,000 complete vehicles and 200,000 engines. It will be officially put into production in 2009.
2. Zhongyu Group does not have the relevant qualifications and licenses, and the project is on hold.
In 2008, Taiwan Yulon and Zhejiang Zhongyu established a joint venture in Hangzhou, Nazhijie (Hangzhou) Automobile Co., Ltd., based on a 50:50 share ratio. However, he never expected that due to the country's sudden measures to "control production capacity and strictly review automobile projects", the project has not been approved for a long time. However, Yulon still decided to give it a try and found the former joint venture partner again. Dongfeng Motor intends to use Dongfeng's background to make the project approval process smoother.
3. Dongfeng Group replaced Zhongyu with access and established Dongfeng Yulon
Dongfeng was very excited about this, and the local people in Hangzhou even actively cooperated and coordinated, "please withdraw" from Zhejiang Zhongyu. According to this reform and reorganization plan, Dongfeng will acquire all 50% of the shares of Nazhijie from Zhejiang Zhongyu Group. Dongfeng Hangzhou Automobile will be fully integrated into Dongfeng Yulon through restructuring, and will introduce passenger vehicle production based on the existing commercial vehicle business, and then establish a joint venture Dongfeng Yulon. Dongfeng Yulon will become a 50% joint venture owned by Yulon and Dongfeng 50%.
The first mass-produced car-Da7 SUV 2011~2012
In August 2011, the first mass-produced car SUV of Lazijie was launched. The vehicle is positioned as a mid-to-high-end, medium-sized SUV. The main engine is 2.2T displacement + five-speed AT gearbox. It can be seen from the engine displacement and gearbox gears that the development of Taiwanese cars is different from other brands. At the same time, the NEDC comprehensive fuel consumption reaches about 10.6L~12.1L, (car enthusiasts who know cars commented that it consumes 16 fuel per 100 kilometers), which also proves that the fuel consumption of Luxjet is indeed high. At the same time, the high price of 188,000 to 268,000 is only equipped with trailing arm torsion beam non-independent suspension . In the mainland where independent suspension is king, it is destined to mean that it cannot go far in the Chinese market.
大7SUV
大7SUV
Sales volume of in the first year of 2011 was 6917 units. As a new brand that has just entered the mainland, the sales volume is actually not bad.
There were 31,000 units of in 2012. For a medium-sized SUV with only one model and a price of about 200,000, this result is quite good.
Multiple models were launched intensively, and sales grew rapidly. From 2013 to 2015
, in 2013, Luxjet launched many models intensively, but none of them could match the sales volume of the first model.
Na5 has entered the fiercely competitive compact car field, with prices ranging from 108,800 to 175,800. The sedan field can be said to be a Red Sea market, completely dominated by Japanese and German models, so monthly sales are only a few thousand units.
Na5
Da 7 MPV is completely overconfident. Back then, Buick GL8 was overwhelmingly superior. Da 7 MPV sold for 198,000 to 278,000, but was only 4.8 meters long, and all series had 5AT gearboxes. , non-independent suspension, and the appearance is also quite conservative and mediocre. With no advantages in space, price, or brand, it entered the MPV market. After a few years on the market, its monthly sales were only a few dozen units. The starting price of the 2016 model was lowered to 169,800, but sales increased slightly, with only a few hundred units.
大7MPV
大7MPV
A car that rescued the decadent sales of Nazije was launched in 2014, and became the mainstay of Nazije's sales for a period of time.
You6 SUV has a starting price of 128,800 to 176,800 and a length of 4.65 meters. It was quite cost-effective at the time. At that time, the SUV market was not so competitive, and the and Haval H6 models were only released in 2011. The prices of joint venture competing products are also relatively high. That year, the starting price of CR-V was 207,800, the Tiguan was 199,800, and the RAV4 was also 199,800. Under this circumstance, You6 is very cost-effective and has gained its own place in this market.
You6 SUV
You6 SUV
In 2014, Relying on the 34,000 units of You6 SUV, Luzhije achieved annual sales of 52,000 units. In 2015, the You6 SUV achieved a sales volume of 47,000 units, which also enabled Lazijie to achieve a good result of 60,000 units overall.
Sales plummeted from 2016 to 2019
After 2016, competition in the domestic SUV market became more intense, and sales of Haval H6 continued to soar, Trumpchi GS4, Changan CS75, Honda XR-V, Buick Envision , etc. A large number of independent and joint venture models have been launched one after another. In this fiercely competitive environment, You6's price/performance ratio is gone, and the brand cannot compete with authentic joint ventures.
Due to various reasons, Nazhijie has been ridiculed by netizens on the Internet, which has affected its reputation and brand: Nazhijie is the most important strategic partner of PetroChina and Sinopec; Nazhijie is not at the gas station, but on the way to the gas station; Nazhijie is on the way to the gas station; When you step on the accelerator of the Zhijie, you will hear the sound of buffaloes drinking water; except for the headlights of the Luxjet, all the fault lights are on; except for the horn of the Luxjet, everything else is sounding...Various videos , jokes, and complaints are spread everywhere on Tieba, Bilibili, and Weibo. You can still occasionally see similar spoof jokes on , Tiktok, and .
Secondly, there are major problems with product strength. What is reflected behind the Internet jokes are the root problems such as high fuel consumption and high failure rate of Luxjet models. Nazhijie's products have problems such as excessive pricing, poor mechanical quality, worrying product quality, poor stability, and low product value retention. The root cause of these problems lies in weak R&D capabilities and lack of core technology. In order to cover up the technical shortcomings of the model, Luzhije uses stack configurations to create a sense of technology and cost-effectiveness. However, with the development and growth of other independent brands such as Great Wall, Geely , Changan , BYD , and the prices of joint venture brands have dropped, Luzhijie naturally does not have much competitiveness.
entered a roller coaster-like decline from 2016 to 2019. in 2016 (40,000 units), 2017 (17,000 units), 2018 (9,000 units), and 2019 (1,640 units).
Although during this period, Nazhijie continued to launch models such as U5, Jierui 3, URX, etc., it still could not stop the decline in sales. In 2017, Dongfeng Motor Company announced its complete withdrawal from the operation and management of Dongfeng Yulon, but "withdrawal of people but not investment". Dongfeng Company participated in the operation as an investor in Dongfeng Yulon, and Yulon Group took the lead in internal management and decision-making.
优5
URX
Bankruptcy 2020~2021
In 2020, Dongfeng Yulon finally entered bankruptcy and reorganization with a sales volume of only 77 vehicles throughout the year.
In November 2021, Dongfeng Yulon was listed on Beijing Equity Exchange for investment, launched the pre-reorganization process, and began to look for interested investors, but there was no progress. In March and July 2022, Zhejiang Liuhe Law Firm issued two "Announcements" on its official website, but there was still no result.
It is understood that the "Announcement" puts forward 7 requirements for intended investors, including product design and development capabilities, production capabilities, production consistency guarantee capabilities, and after-sales service guarantee capabilities that are compatible with the investment projects; and having sufficient financial strength to invest. , to ensure the sustainable development of the project and that the source of funds is legal and compliant; the investment project is mainly focused on the research and development, production and sales of new energy vehicles; two or more investors can jointly participate in the investment, but at least one investor The above conditions must be met.
In other words, investors must have the status of a car company, and they must be a car company with sufficient funds and development of new energy. If investors want to invest, they must also bring together a qualified car company. This requirement is very difficult. Car companies with funds and strength look down on Dongfeng Yulon, and car companies without funds cannot afford it. After all, Dongfeng Yulon also carries a debt of 7 billion yuan, and this is only on the surface.
It is understood that Dongfeng Yulon is heavily in debt and does not have many high-quality assets. Dongfeng Yulon's debt is about 7 billion yuan. Dongfeng Yulon has the qualifications to produce traditional fuel and new energy for passenger cars, and it also has a car manufacturing factory production line with a production capacity of 120,000 vehicles. However, industry insiders pointed out that Dongfeng Yulon's vehicle production line technology is relatively backward and of little value to traditional car companies. And car-making qualifications are not attractive to new car-making forces that basically have qualifications.
This has also led to the delay in the appearance of the receiver, and there is currently no solution.
