Hengchi 5: How $300 Billion In Debt And The World's Top Auto Designers Created A Mediocre Car
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- Опубліковано 27 лип 2023
- Today, we explore the tortured tale of Evergrande, China's second largest real estate developer and best known debtor, and it's attempts to create an electric SUV.
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You are a really great presenter, and really great scriptwriting in this one especially the small bits of humor sprinkled in. Really enjoying the videos
Indeed! Low-key great!
Man, everything that's even marginally related to Saab seems to go belly-up.
I just wish those engineers or even the design specs can end up at some sort of a decent car developer. Preferrably Volvo but DEFINITIVELY NOT a screwed-up financier like Evergrande
@@gluttonousmaximus9048 BAIC, a proper car company, wanted to buy Saab when GM ran it into the ground, just like Geely wanted to buy Volvo when Ford ran it into the ground. The difference is that Ford was willing to work out a basic tech transfer agreement and Volvo AG was willing to continue to share the Volvo brand with a Chinese carmaker. And as a result, Geely was able to take over Volvo and use its Ford platform for a time as it invested money into Volvo to build its own platforms such as SPA and CMA.
On the other hand, GM was unwilling to transfer some of their tech platforms to tide Saab over, and Saab AG (which makes the fighter jets) was unwilling to share the Saab logo and brand with a Chinese carmaker. Evergrande came along later and picked up some bits and pieces of Saab at liquidation auction, but not only do they not have the expertise to build cars in volume, it also would not have been worth it if they couldn't brand the cars with the Saab logo.
Result is that Volvo is still around, but Saab Auto has been consigned to the dustbin of automotive history.
The sweeds left and buried a skeleton head at the factory. Bad luck forever
It’s sad really
Volvo might still be around but Polestar apparently isn't doing very well either
Fair and balanced analysis. (1:02) Cast of characters. The story of selling the EV business concept to the egomaniac debt-ridden real estate tycoon would make an interesting movie script.
I’d watch that movie!
@@Wheelsboy I'd rather have a horror movie or game with said tycoon as the protagonist and the antagonists being banks and angry homeowners...
I've driven one out of curiosity last year - after visiting the most miserable "showroom" I've ever seen. Although no sane people would dare to actually buy one, it's not a terrible car indeed. Which shows the capability of the Chinese supply chain - you can make a semi-decent car by just putting all the off-the-shelf parts together!
Sad that I didn't get to drive a Vinfast this May when back in Canada. Got to sit in a VF8 in a mall, but supposedly you'd have to queue for months to just test drive it (a deposit will earn you a "priority" spot!). But for whoever had witnessed the Evergrande/Hengchi scheme, what's up to Vinfast is crystal clear. And judging from the reviews, it's even worse a car than the Hengchi (can confirm from static experience), at a much higher price...
BTW the Hengchi 5 has a couple more avatars other than the "shirtless lionman" for you to choose from. The one I drove was set to the "Lolita". Ugh.
Glad you had a similar experience regarding the Hengchi, and you’re right that it’s just a parts bin special. I was in Vietnam back in January, and also very disappointed that I didn’t get to drive a Vinfast. I’m interested in driving one, not just an auto enthusiast, but also as a former resident of North Carolina, where they claim they will be building their factory in the states. I am skeptical, to say the least.
@@Wheelsboy they are setting up a factory in my area, half interested in how badly it goes
NEVS have produced a working electric car, the Emily. However it seems that Evergrand aren't going to finance it.
I have personally laid eyes on an electric Saab prototype, so I know they got pretty far along in the program. A shame we don’t see roads populated by Saab EVs! Hopefully someone will resurrect the IP at some point.
The avatar is hilariously awesome. Nice interior for the price for sure. The exterior seems to be a tad generic but not offensive. Good deal for yhe price.
That’s my overall take as well. It’s not going to be good enough to overcome its origins, but in a vacuum, it would probably be a minor sales success.
there were so much promises in the beginning showcasing lucritive range of concepts. But I saw through the BS knowing they were just desperate for investers. But hey, they managed to make something rather than just running away with the money
Imagine being a car collector in China, you'd need to be a billionaire
i thought that evergrande EV product is scam lol. well at least it's good enough for company that dont have any experience on making a car
Heard a lot of Evergrande during the peak negative news about them. Quite amazing they were able built a car at all. Too bad, the car looks decent but Evergrande is so unstable.
Very good review! Thanks for sharing these information so we can hold on tight and wait for the next car they will produce.
Do you really think they'll make more cars? It seems like it will be difficult given their financial health.
Still waiting! I have 17 million dollar and need 1 car so I would be a perfect customer 😂
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it costs 17 million usd each car, do I need to purchase insurance and how much to cover 17 million? my location is nsw Australia
@@Hkchinese888 and how they provide maintenance, considering 1 chinese EV brand goes bankrupt every month.
@@mipmipmipmipmip
it's a Ponzi scheme
Good insights
Shows that these design boss clowns aren't any good without good designers working for them, they are just expensive empty shells.
Looks like the design was “inspired” by the Volvo EV design language. If this brands come to the US, the prospective buyer would have to have confidence in their financials.
Evergrande Auto and Evergrande are not the same company, both stocks are junk though. If one goes out of business. It doesn’t mean the other one will too. But the Evergrande connection is really bad for the Hengchi.
Can you please review Geely L7 and L6? Thank you
NO, that logo is like Holden logo, mmmmm maybe this company got better chances building electric Holdens then Saab?
Haha - your best review
Please review geometry C 2024 also
Presenting / scripting continues to improve. Good channel.
For every apartment you buy, you get one free car..
Looks like it melted in the sun. Nice review.
lol i dont know if you could read chinese words or anything, ill prob elaborate in English. Evergrand or Hengchi is an absolute joke now in chinese market, with majority committee board and former ceo Xu being taken custody by authority, there is 0 chance this car brand would continuously operating in future. With that being said, this car will have no post service whatsoever. All that launch conference is just for a show and a way to postpone investigation of government.
Hey Ethan , could you perhaps at some point do a review of the Maple Caocao 60 ? I would like to see a more budget friendly car you take your fine tooth comb over , as i'd like to see if the cheaper EV's have become more quality than quantity ... ?
The Maple is basically only sold to ride-hailing companies and their drivers, so not sure we can get one for a test. I like the idea of bare bones EVs, but honestly, videos about them don't perform very well, so it's often not worth filming them.
@@Wheelsboy I had no idea it was only for rideshare purposes , so nevermind then. But there is another version of the Caocao 60 called Livan 7 , is that one also for rideshare compagnies ? Thx
Hongcer Logo looks like current Holden logo.
RIP anyone who is going to want this car!
Never thought I'd hear the word 'furry' in a car review...
Never thought I'd use the word "furry" in a car review, but if the shoe fits!
If the interior doesn't creak when pushed it's already better built than any Mercedes haha
Well for $17 million per car the interior better be made of gold 😂
Unpolished car but has potential for growth.
Question is, will it be the next Daewoo or Hyundai?
Both offshoots of a massive business empire but one received the investment for growth. The other did not.
I don’t think it will even get the chance to reach Daewoo levels of success.
Looks like a facelift of the Aiways U5
Dude, it really does.
I hope it comes to the EU 🥳
You go on about Chiba Evergrande having massive debt...while the VW Grpup has nearly double that debt...and let's just mention Japanese car manufacturers.
True, car makers are among the most indebted companies in the world. But comparing VW group's financial health to that of Evergrande doesn't make a lot of sense.
It is about being able to service the debt, if repayment or interest payments canbe made the debt is not an issue, However, evergrande is not capable repaying debt and hence files for bunkruptcy protection.
go buy one, quick, each car costs 17 million USD
😂😂😂
This reviewer was very privileged, driving one of the most expensive cars in the world 😂
What??? Isn't that just how blind spot cameras work?
Yes, but I believe it’s possible to close the camera view in other cars. Living in an urban area, you can end up stopped by the side of the road waiting for someone or simply trying to get your bearings. If the camera view can’t be turned off, then you can’t interact with the navigation or other functions without turning off your turn signal, which is supposed to inform approaching drivers of your intentions.
According to Evergrande, 320 have been sold. 320. Forget that car, forget Evergrande.
I thought it was 900! A number like 320 is even more depressing...
17 million dollar per car sold 😂 apparently they bought assets from the Saab reboot at some point, which was also a scam but not of that size
RiP this car probably DoA
Peugeot logo 🙄
APPEALING TO THE FURRY COMMUNITY LMFAOO 💀💀💀💀💀
I don't have any hopes for this hengche brand tbh its not unique nor is it any better than something like byd nowadays.
if Ford would produce a car like this with 25k in USA would be a hit, in China jungle car market is just another car.
The competition here is truly hard to fathom if you haven’t seen and experienced it first hand. Breaking into the NEV market is getting harder and harder by the day.