Shulou(Shulou.com)11/24 Report--

The new force of car-building, which has been practicing for nine years, has closed down.

The latest information shows that Singularity is now being filed for bankruptcy review by a group of creditors.

In fact, even earlier, Singularity cars have been exposed that large-scale arrears of wages, insolvent, and enforced by the court.

After nine years of entrepreneurship, Singularity was initially invested by local governments such as Tongling in Anhui, Zhuzhou in Hunan, and Suzhou in Jiangsu Province. It was also the first new car-building power invested by its old employer, Zhou Hongyi, with a total of 17 billion yuan in public financing.

Three production bases were planned, and the urban exhibition hall was once lively, and even commercial vehicles and two-wheeled electric vehicles were set up across the border, with huge stalls.

But Singularity's car has never been mass-produced and delivered.

In other words, although he was founded at the same time as Wei Xiaoli, until the day he entered the bankruptcy proceedings, Singularity was still a "car-building trainee".

Singularity went bankrupt, Anhui Tongling bet failed on July 5, Anhui Tongling Intermediate people's Court announced that on June 26, 2023, Tongling Intermediate people's Court accepted the bankruptcy liquidation case of Anhui Singularity Intelligent New Energy vehicle Co., Ltd., based on the application of 10 creditors, and appointed Tongling Jinjian Accounting firm as the manager of Anhui Singularity Intelligent New Energy vehicle Co., Ltd. On June 30, 2023.

According to the announcement, creditors of Anhui Singularity Intelligent New Energy vehicle Co., Ltd. should declare their claims to Tongling Jinjian Accounting firm, manager of Anhui Singularity Intelligent New Energy vehicle Co., Ltd., before September 30, 2023. The Tongling Intermediate people's Court said that the first creditors' meeting would be held at 9: 00 a.m. on October 10, 2023. Creditors who declare their claims in accordance with the law shall have the right to attend creditors' meetings.

In popular translation, Singularity has gone bankrupt. In order to recover their losses, the creditors applied to the court to carry out the bankruptcy liquidation proceedings.

In addition, the court appointed a professional accounting firm to take over the management of Singularity Automobile, indicating that the management of Singularity Automobile, including founder Shen Haiyin, has resigned.

After nine years of singularity, it finally collapsed.

What is magical is that the official website of Singularity Automobile can still be accessed normally, and even the home page has a phone number for recruiting franchisees, and the address of the Beijing exhibition hall can still be found.

However, the phone can no longer be dialed, and the former Singularity car showroom is now a Starbucks store.

On the 1st floor of Block B of the △ East third Ring Road Jiaming Center in Beijing, there is another point worth noting in the former Singularity Exhibition Hall. The bankruptcy liquidation procedure was initiated by the Tongling District Court in Anhui Province. Tongling, Anhui Province, in fact, is the singularity car building to give strong support to the party, giving money to the land policy.

But the bet failed with the collapse of Singularity, and Tongling ended the matter in the end.

Where did Singularity come from? singularity Automobile was established in 2014, and the new energy car manufacturing enterprises born in the same year also include Weilai, ideal and Xiaopeng. Singularity Automobile stands on the same starting line with the three new forces of domestic carmaking.

Founder Shen Haiyin, a bachelor's degree in automatic control and industrial management from Shanghai Jiaotong University, has worked hard in the Internet industry for a long time.

In his early years, he continuously started a business in Japan. After being acquired by Google, he joined Kingsoft and served as vice president of Kingsoft Group and president of Kingsoft Security.

From 2013 to 2015, Shen Haiyin served as vice president of Qihu 360. In charge of Mobile guard, 360 cloud disk, 360 secure routing and other services.

The opportunity for Shen Haiyin to create Singularity Automobile comes from Tesla, the leader in the new energy automobile industry.

According to Shen Haiyin, the first time he drove Tesla, he had a feeling of electric shock. Shen Haiyin, who was still working at 360 at the time, was already eager to give it a try. He expressed his idea of building a car to Zhou Hongyi, hoping to do a car project inside 360.

But Zhou Hongyi thought that car-building was a far cry from 360's main business, and rejected Shen Haiyin. If the boss doesn't agree, then do it yourself, and Singularity car was born.

Shen Haiyin named his car brand "Singularity", which is also the dream of technical men: "Singularity is considered in physics to be the beginning of the Big Bang and the point where the universe has grown from scratch."

And lead the singularity car intelligent research and development, is the former Baidu beauty research core member, artificial intelligence and self-driving expert Dr. Huang Bao.

In addition, the vehicle Singularity invited Zhou Shijian, the former president of the Chinese Association of Automotive Engineers in North America, and Fan Xing, the former deputy general manager of Chery sales.

Singularity launched its first model, iS6, in 2016, which was launched earlier than the first model of Wei Xiaoli, which was founded in the same year.

During this period, Shen Haiyin made frequent appearances and roadshows with Singularity iS6. With the rising popularity of the industry, all kinds of capital are coming one after another, and Singularity Automobile has become a new force of car construction which is very optimistic about the early capital.

From 2015 to 2020, Singularity completed a total of 11 rounds of financing.

Among them, there is no lack of Lenovo Star, old employer 360, Intel Capital, Oriental Network Power, Itochu Corporation, Anhui Tongling Municipal Government and so on.

By 2019, the total amount of auto financing at Singularity has exceeded 17 billion yuan.

In 2016, Shen Haiyin announced to the outside world that he would strive to achieve small batch production by 2017.

At the same time, Shen Haiyin also revealed plans for Singularity to build its own factory:

"the contract manufacturing model means that a lot of things may not be completely controllable, and these adjustments will affect our progress."

Tongling City, Anhui Province, after hearing Shen Haiyin's words, handed over an olive branch, invited Singularity cars to settle down, and also set aside some funds to invest at the same time.

In November 2016, Singularity announced that its headquarters would move south to Tongling and build a factory with a total investment of 8 billion yuan and an annual production capacity of 200000 vehicles.

The star aura of Singularity Automobile at that time attracted not only Tongling in Anhui, Suzhou in Jiangsu and Zhuzhou in Hunan, and other local governments successively reached agreements with Singularity Automobile, landed R & D centers and production bases.

However, the "multi-point blooming" of Singularity has not been as expected by Shen Haiyin, but has become a burden that drags down the pace of mass production of Singularity.

How the Singularity collapses according to Zhengguan News, in 2020, the old shareholder 360 visited Singularity Automobile to discuss a new round of investment.

At that time, all the companies were optimistic about getting a new round of 360 investment.

But in the end, 360 abandoned the singularity and turned around to invest its money in the car.

It was in 2020 that Singularity was first sued for a contract dispute.

It can be seen that after 2020 is the beginning of the Singularity car dilemma.

It's such a big step that XX has gone from being in high spirits in 2016 to being stretched in 2020. What has Singularity experienced?

As mentioned earlier, Singularity Automobile insists on building its own factory, planning three production bases in Tongling, Anhui, Zhuzhou, Hunan and Suzhou, Jiangsu, almost at the same time.

The investment in these three bases is 8 billion yuan, 5 billion yuan and 15 billion yuan respectively.

In addition to the factory, Singularity Automobile's new R & D center, offline experience store, headquarters relocation and other operations are all free of charge.

According to the plan, singularity 17 billion financing is far from enough, and this 17 billion is still financing in batches over a period of five years.

As a comparison, Wei Xiaoli three from its establishment to smooth mass production listing of the first car, the amount of financing is 12 billion, 10 billion, billions of RMB (calculated at the exchange rate at that time).

To be careful and to save money should have been a common strategy for the new forces to survive in the early stage.

However, in addition to investing in factories in three places, Singularity has also entered the business of commercial vehicles and two-wheel electric scooters at the same time.

In October 2018, more than a year after the release of iS6, Singularity Automobile official Xuan began to build an electric platform for developers' vehicles, and moved into the fields of intelligent cockpit systems, intelligent driving systems and smart vehicle networking.

Zhidian Intelligent New Energy vehicle Co., Ltd., established in July 2018, is a new energy commercial vehicle operator used to provide vehicle design and development, parts manufacturing and related ecological services. The legal representative of the company when it was founded was Shen Haiyin, founder of Singularity Motor.

The year before last, however, Shen Haiyin quit the senior team of Smart Point, and his 80% stake in Smart Point was released to 15%.

Zhuzhou in Hunan Province also supported Shen Haiyin's commercial vehicle project, which also contributed money to the land. But smart cars, in the end, there is no more.

In addition to commercial vehicles, in July 2019, a company called Shark Bay launched its first new brand, Blue Shark, and launched its first product, Blue Shark Robor. According to public documents, the company was founded in August 2018, and Shen Haiyin is the co-founder and chairman of the company.

And Blue Shark is the only mass-produced product that Shen Haiyin has built for 9 years.

"abandoned by capital in 2020." in fact, none of the three vehicle factories in Tongling, Suzhou and Zhuzhou, which were planned early by Singularity, have really landed.

In 2017, Shen Haiyin reneged on his promise for the first time and iS6 failed to produce as scheduled.

However, in 2018, Shen Haiyin continued to promise that iS6 would be listed during the Spring Festival in 2019.

Until 2021, Singularity was still looking for a contract manufacturer for iS6 mass production, and it was reported that it had reached a cooperation with BAIC, but it was never heard of.

The 17 billion financing disclosed in the public information is gradually exhausted in Shen Haiyin's "multi-blossom" operation.

As for the above-mentioned Singularity Automobile executive team, Dr. Huang Bath, who is in charge of car intelligence, switched to Black Sesame Intelligence in November 2020, then went to Shitu Technology, and joined Auto Zero Technology in March last year.

Zhou Shijian, who is in charge of the whole car, and Fan Xing, who is in charge of sales, have not been made public since 2019.

After the employees' salary demands were exposed last year, the management of Singularity Automobile revealed that they were working hard to raise money and reissue the arrears as soon as they got the money.

But some investors have pointed out mercilessly that Singularity will not be favored in the investment circle after 2020.

Singularity cars live vigorously and die in obscurity.

This is only a grain of sand in the elimination and reshuffle of the new forces, and of course it will not be the last.

This article comes from the official account of Wechat: smart car reference (ID:AI4Auto). The author: have a car and have evidence.

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