Chapter 342 What Only Space Can Do
Many times, if you miss it, you miss it.
When Weilai was financing, they did not directly look for Hefei. During the whole process, they looked for Huzhou, Hangcheng and other cities, hoping to raise about 14.5 billion from them. That time too I found Jiangcheng.
Jiangcheng has always hoped to develop new energy vehicles. In the end, the agreement was not reached because at that time, at the end of 2019 and the beginning of 2020, how could Jiangcheng have the energy to manage your NIO financing? Big deal.
The second reason is that the situation of NIO at that time was indeed not optimistic. NIO was facing a situation where the stock price was about to fall below 1 US dollar and faced the risk of delisting from the US stock market.
The rules of the U.S. stock market are that if the unit price per share falls below $1, a warning will be issued. If the stock price fails to return to above $1 within 90 days of the warning, it will be delisted.
Weilai faced such a crisis in 20 years, and Lao Jia’s Faraday Future will always give you the whole deal of dozens of shares per share, just to keep the value of each share. It fell below $1, in order to stay on the Nasdaq, and for its shell to be on the Nasdaq.
Lao Jia’s Faraday Future has made eighty-in-one, three-in-one, and forty-in-one, three consecutive shareholdings, with a total ratio of up to 9,600 times.
You spent $96,000 to buy 9,600 shares when it went public. Today, the stock price has dropped from $10 to $2. Not to mention, your 9,600 shares have become 1 share, which is even more outrageous.
Back to NIO, Jiangcheng did not provide financing for NIO back then. Hefei State-owned Assets took over, investing 11.26 billion yuan to acquire 24.1% of NIO’s shares.
Looking at it today, I didn’t make much money purely from a trading perspective. If you look at it from the perspective of attracting investment to the entire city, it is definitely a huge profit.
Because at that time, the 11.2 billion was used to leverage an investment of 102 billion yuan.
Looking at it today, it has driven the vigorous development of the entire Huizhou automobile industry.
In a sense, investment is often based on expectations. If he had known that Weilai could come back to life, Jiang Cheng would have gritted his teeth and signed the contract.
At that point in time, Jiangcheng's endowments were better than those of Hefei. Hefei Port was also an inland port, but from a magnitude perspective, it was not even one-third of Jiangcheng Port's.
Considering that Weilai only has the domestic market, Jiangcheng's position is also far better than Hefei. In the automobile industry chain, in 20 years, Jiangcheng won by more than one margin.
Today, even if you invest 20 billion RMB and still can’t get shares, which is equivalent to lending you an interest-free loan, you have to grit your teeth and win this project from Space.
Essentially, they are still good projects rushing to give you money.
The logic of the strong will always be strong is most vividly reflected in the matter of investment.
“Secretary, I can’t give you an answer now, because the same conditions that can be opened in Jiangcheng can be opened in other cities.
And this is not something I alone have the final say. Space Tesla has a stake in, and the factory to be built is a joint venture between us and Volkswagen, and Volkswagen also has the right to make decisions.
I see Jiang Cheng’s sincerity, but I really can’t give a clear answer.
After I return to Shenhai, I will definitely tell Lin Jia to ask her to focus on investigating the environment of Jiangcheng and include Jiangcheng as one of the cities we are considering.
If possible, I really hope to do something for Jiangcheng. ”
Jiang Cheng’s sincerity is indeed enough.
Because in 2027, Dongda’s local investment promotion logic has changed, and Yanjing has tightened the bargaining chips that local governments can offer.
To be precise, the trend started in 2023, and the real thing started in 2024.
In August 2024, an administrative regulation called the "Fair Competition Regulations" was promulgated. It is very clear in it that tax incentives cannot be provided without local laws and regulations or permission from Yanjing.
Including financial incentives, tax refunds, land transfers, etc., they have become very strict.
The tax-based investment model is directly banned.
At this time, local investment promotion mainly relies on investment, and local state-owned assets invest in enterprises to attract enterprises.
Obviously, it is much more difficult to rely on investment than to attract companies to settle here through taxes. You have to worry about what will happen if the company gets investment and then collapses.
Investment promotion under this model particularly tests the level of local governments. You cannot invest blindly and attract a bunch of companies that do not match your local resources at all.
As we all know, state-owned assets used to be the most risk-averse because there was a red line against losing money. You can invest, but you cannot lose money. If you lose, it will be related to the loss of state-owned assets.
This is impossible. Even if Duan Yongping comes, he can't make angel investment without losing money.
Therefore, after transforming the tax-based investment promotion model into an investment-based investment promotion model, Yanjing issued the so-called 17 Venture Capital Articles in the same year. The full text is called "Several Policies and Measures to Promote the High-Quality Development of Venture Capital Investment", which included loosening restrictions on state-owned capital investment companies. , allowing them to lose money.
It is a combination of making it more difficult to attract investment, allowing state-owned capital to suffer losses, and handing consumption tax to local governments. The essence is to improve the local business environment and urge local governments to improve people's livelihood.
I don’t know if it has any effect, but that’s the original intention.
By 2027, I had been playing this set for almost three years.
So under such shackles, Jiangcheng's conditions are already very good. It invests 20 billion, and then allows you to use the money yourself to recover the original price of the shares.
To put it bluntly, this means walking on the edge of the red line, which is equivalent to giving you an indefinite loan with no time limit.
You must know that Shenhai’s 40 billion loan to Tesla back then also required 3% interest.
"Yuan Guang, okay, your promise is enough.
I would like to say a few more words. The two tens of billions of investments are only for Space, for you and the public. The Gigafactory, the supporting industrial park we built around the Gigafactory, was funded by Jiangcheng.”
Jiangcheng's annual tax revenue is about 140 billion, and the investment of 20 billion to build an industrial park is another 50 billion. Together, the tax revenue for half a year is gone.
"I will definitely leave Jiang Cheng at the end. Lin Jia will bother you more in the future."
"Don't worry, we will be here when you call."
After Chen Yuanguang left, the atmosphere in the entire restaurant became more natural. There were very few people present, and there were only four people left. No one would be wise enough to find a beautiful woman to accompany her. After all, it was Lin Jia who was responsible for this matter. If this reached her ears or was revealed by Chen Yuanguang himself, Jiang Cheng might be eliminated directly.
Originally Jiangcheng had no advantages.
One in the province, two in Jiangcheng, and the president of Jiang University is gone.
We are all in the same circle and interact with each other frequently. In terms of level, Principal Shu is on the same level as them. With the market conditions in the past few years, Principal Shu might soar into the sky. If he excels in his studies, he will become an official, and he will become their immediate boss from the principal.
So none of us will be too cautious.
“Hey, it’s just as you guessed. Even if we put all the chips on the table from the beginning, we still can’t get an accurate word from the other party. But this is understandable, after all, we are competing with It's places like Shenhai, Hangcheng and Yangcheng.
Compared with these places, Jiangcheng's biggest advantage is probably the price of labor and engineers. ”
Due to the housing prices and the concentration of a large number of colleges and universities, Jiangcheng is located on the thoroughfare of nine provinces, so the same recruitment of engineers in Jiangcheng can be at least 30% lower than in other cities.
“ Originally, they were building a smart factory with a limited number of employees, so this advantage was not enough. ”
Everyone was talking a lot, racking their brains to think about what advantages Jiangcheng had that would allow Space to put the super factory in Jiangcheng.
At this time, Principal Shu couldn’t understand. Question: “Is this factory really that important?
If we really want to attract investment, the same conditions should be able to attract leading manufacturers like BYD, Ideal, and Huawei.
Purely from the perspective of attracting investment, there shouldn’t be any essential difference in the social benefits generated by bringing these manufacturers together.
This is just my humble opinion, I can’t figure it out. ”
After listening to the whole story, President Shu was filled with emotion and questions. He felt that his student had become an important figure in Dongda in just seven years. The question was because he really didn’t understand. The new energy competition is about to enter its second half. Are Space and Volkswagen's super factories really so important?
Volkswagen is an old force and Space is a new baby. The product of the combination of the two may not be good. The result.
The outside world believes that their partnership to build a super factory will combine the advantages of both, Volkswagen's rich and experienced engineers, Space's advanced technology and unconstrained design.
But will strong alliances really bring about good results? not necessarily.
The luxury brand Tengshi jointly launched by BYD and Mercedes-Benz has been half-dead. Later, Mercedes-Benz withdrew its shares and BYD became fully owned, but things improved.
Not all strong alliances can be like Wenjie.
After Principal Shu finished speaking, the other three looked at each other: "**, please answer."
"Principal, you are right. In the short term, we can achieve similar results by looking for BYD or Xiaomi.
Nicknames never lie, nicknames can be gods. , and can become a recognized god of Dongda and extend the timeline. From the long-term development of Jiangcheng's automobile industry, only Chen Yuanguang can achieve the desired effect."
After the other party finished speaking, Principal Shu. Still confused as to what effect you expect to achieve.
At this time, the person sitting opposite took over: "We hope to make Jiangcheng the core of Dongda's automobile industry again and become the city with the largest automobile output value in Dongda."
" Can a single super factory do this?" Principal Shu was even more confused now.
"Of course it's possible.
Principal, I won't name names here. Many domestic car companies set prices for suppliers in the upstream and downstream supply chains based on each other's profit line. , the abacus is going to smoke, I will only leave you some hard-earned money.
Even if I go too far, I won’t even give you the hard-earned money, so you can only work for me.
< br>When I went to Yudu for research last year, their boss came to receive me and discussed with me enthusiastically how to manage suppliers. They could even calculate the government subsidies for you, and then they would give you the money for the government subsidies. Let's go.
As for how suppliers make money, they go to the stock market to make money. If they are not listed, they will increase their scale and make a fortune by going public. If they are listed, I will give you an order and your performance will increase, and the stock price will increase. money.
This is the way many car companies play. Otherwise, why can they lower the terminal price and still make money?
Consumers have benefited, but for suppliers, it is impossible for them to have the funds to invest in re-research and development.
There are such car companies among the car companies you just mentioned. When I recruit them, they only have the present and no future.
After he came, our more than 10,000 upstream and downstream suppliers in Jiangcheng had no way to upgrade their technology, and there was no way to iterate their processes. They were just trying to make immediate profits.
Like Tesla, they will give their suppliers enough profits.
How do they play? This is how they play. He makes a request and you see if you can do it. If you can do it, fine, I'll leave this to you.
I guarantee that your gross profit in the first year will be at least 50%. If this demand is important enough, 80% of the gross profit will be no problem.
But it will be reduced to you in the second year, and again in the third year, and will continue to decline throughout the life cycle.
The advantage of this model is that it dilutes your research expenses by giving you a large amount of profits in the early stage, and then continues to reduce prices in the future, forcing you to optimize the process and reduce costs, and you will also force your suppliers to reduce costs. The supply chain is driven to iterate processes and reduce costs.
Once you can improve the process, the extra revenue goes to the suppliers, which also gives the suppliers the initiative to invest money in research and development.
This was originally Apple's method, and Tesla also plays it this way. If we let Space come in, they will adopt a similar strategy to drive the entire supply chain to progress together.
Not to mention, it is backed by core competitiveness like Guangshen.
According to the long-established vision of Space, the ore mined in space should be used as its raw material.
At first, everyone didn’t quite believe it. With the emergence of room-temperature superconductivity and HBM, the outside world generally believes that this will happen in as long as ten years or as short as five years.
After space mining, there must be smelting. This is also a supporting industry, which means it will be placed around the Space Super Factory.
"Yes, ** is right, and this time it is not just Space. If it is just Space, the output of Space, which takes the high-end route, is limited. Even if it promotes the development of the industrial chain, the driving effect will be limited.
< br>This is a super factory jointly owned by Space and Volkswagen, which means that Volkswagen's cars will also be built here. With the European market being transferred to us, Volkswagen's mass-produced models will be the highlight.
Therefore, we. If you look at this investment promotion from the perspective of the entire Jiangcheng Automobile industry chain, no other domestic new energy manufacturers can replace Space.
Even other domestic new energy car companies have adopted similar supply chains. They can’t compare with Space in terms of training methods, because they have many factories in many places.
The factories built by Space and Volkswagen will be Space’s only factories.”
What Jiangcheng can think of, there is no reason why other cities can't think of it. Investment promotion has always been one of the most important local tasks, and this sweet trouble will continue for some time.
(End of this chapter)