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The young Pang youth aged 50, like Li Shufu, is also a native of Taizhou, Zhejiang. He has passed cattle, planted tea, and opened tractors. Today, he has become the only private car company in China that possesses the qualifications and products for the production of passenger cars, trucks, and sedan cars – Chairman and President of the Board of Directors of China Youth Automotive Group. . What he wants to do most now is like Li Shufu’s Geely Automobile, relying on “affordable prices†to take the road to a new car, but the difference is that the Youth Automobile Group has cleverly put out a “Lotus†card. At the beginning of the brand, it has already taken the lead.
From tractors to buses
Driving a tractor is easy, but it is not easy to know which components the tractor is made of, what equipment it produces, and how much it costs. In 1976, the 18-year-old Pang Young was a small tractor driver in the production team. He learned to drive a tractor while learning to repair. He dismantled the tractor, installed it and dismantled it, and kept wondering. Later, he began to modify the tractor by himself and swapped the upper and lower gears of the tractor to increase the speed of the tractor that changed gears from 25 kilometers to 50 kilometers per hour.
Three years later, the 21-year-old Pang Yang started his own entrepreneurship early. As a result of raising some funds, Pang Young used a parked tractor room in Tiantai County, Zhejiang Province, and opened a small factory to produce plastic bags. The plastic bags were then consigned to local supply and marketing companies. After they were sold, they gave each other 1% of their management. fee. In the following year, Pang Young used the earned 500 yuan to set up a local garment factory and continue to do the plastic bag business. After a few years, the annual sales of the plastic bag factory reached more than 600,000 yuan. The first barrel of gold."
In 1986, in response to the National Poverty Alleviation Call, Pang Young invested 260,000 yuan in Pan'an County, a poor mountainous area, in China to establish a rubber factory and supplied domestic bicycle manufacturers Phoenix, Permanent, Sea Lion, and Chinese. In the four years of Lu’an, the rubber factory achieved the largest production in the country with an annual output of 15 million sets, which is 1.4 million sets higher than Shenzhen’s diamond production. In 1993, he renamed the already growing rubber factory as "Hangtong Group," with a capital of 380 million yuan, and he became chairman of the board of directors of the group. During this period, Pang Zhengping's first real exposure to the passenger car industry. At first, Pang Youth set his sights on the automobile tire project, but after market research and feasibility analysis, he found that the investment needed for a car tire project and an automotive project is almost the same. He had a soft spot for the car and he decided to abandon the tire project and get involved in the field of luxury cars.
In 1995, Pang Youth negotiated a joint venture with Beijing North Vehicle Manufacturing Plant to establish Jinhua North Fuli Automobile Co., Ltd. to produce high-end luxury buses. However, the company, which is run by Beijing North, has gradually reached the brink of bankruptcy, and the industry even considers the cooperation to be a negative textbook for lessons learned. During the four years of cooperation, four general managers were replaced, and by the end of 1998, the joint venture company Only 8 vehicles were sold in total, of which 5 were problem vehicles. So Pang Yang decided to go it alone, and in 1999 invested 9 million yuan to acquire the remaining equity of the joint venture company.
Two years later, Pang Young registered the “Jinhua Neoplan Vehicle Co., Ltd.â€, and then “horrible†took the truck, and then quickly transformed the car. He took the “shell†of the Guizhou Skylark and got the license, and then joined Iran and signed the contract. Lotus quickly completed a tremendous transformation from a layman to a car boss. Last year, he established the “China Youth Automotive Group†and became Chairman and Chairman of the Board of Directors of the Group.
From Commercial Vehicles to Passenger Vehicles
As a large-scale integrated automotive industry group that produces NEOPLAN luxury buses, MAN luxury heavy trucks, cars, and auto parts, the Youth Automotive Group has three sub-groups: commercial vehicle group, passenger vehicle group and auto parts group. There are 21 holding subsidiaries and member companies. Although the reputation in the field of passenger vehicles is not obvious, in the field of commercial vehicles, luxury buses with a unit price of more than RMB 1.3 million are more than 70% of the national market, of which luxury buses with a unit price of more than RMB 2 million account for most of the national market.
On January 9, Pang Young announced in Beijing that the first new car, the Youth Lotus RCR Racing, entered the passenger vehicle market. As the first imported coupe jointly launched with Guihang Group and British Lotus Auto Technology Engineering Corporation (hereinafter referred to as “Lotus Projectâ€), the car is priced from RMB 129,800 to RMB 149,800, and 30,000 are pre-sold this year. It is estimated that it will be put into domestic production soon.
The racing technology partner Malaysian National Automobile Holdings (Proton, hereinafter referred to as "Proton") told the "First Financial Daily" that the Youth Automotive Group is confident that it will be able to sell during the 20-month contract with Proton. With 10,000 cars, the target customers are all 25-35 year-olds, small entrepreneurs looking for modern styles, medium-salary workers, and government civil servants; in addition, the Youth Automotive Group also requires that it introduce more products as soon as possible to accelerate Expand the production capacity of the Jinan plant and expect to reach an annual production capacity of 150,000 passenger cars in the future.
Due to import duties and the new car being packaged as a "coupe" concept, the price of the racing car is about 15% higher than the price of the prototype Gen2 in Malaysia. According to sources, within this year, the Young Car Group's new car plant in Jinan, Shandong, will be completed and put into operation, with a scale of 150,000 vehicles. This project has received strong support from Shandong Province, which has no car company for decades. By the beginning of 2009, the Lotus “RACER†coupe will also be equipped with a newly developed 1.8T engine; and after a 1.6L displacement is put into production in the middle of this year, Savvy with a 1.2L engine will be expected to become a youngster. Automotive Group's second domestically-produced car to enter the Chinese passenger car market.
However, some industry insiders pointed out that the Young Automobile Group’s long product line of its automotive products also poses significant risks. Even in the commercial vehicle industry where it is good at, the Youth Automotive Group has actually experienced a tortuous journey. In cooperation with the German MAN, Manka obtained the license in early 2006, and thus formally entered the truck sector, but the imported CKD parts were assembled and produced. Domestic Manka, compared with the original imported Manka, does not account for much advantage. Its sales volume in the first three quarters of 2007 was less than 200 units, which was a shabby performance in the heavy truck market that sang all the way last year.
Nowadays, in terms of passenger cars, the actions of the Youth Automotive Group are even more dazzling. They first handed up Guiyang Airlines and held Guizhou Youth Lark (the sales volume was only 8 vehicles in the first three quarters of last year), followed by Japan’s Fuji Heavy Industries and French Peugeot. Iran, Hudlow of Iran, the British Lotus, etc., have frequent contact, and finally launched racing from imports to domestic production. Industry insiders reminded that using limited resources to launch a full-scale attack in the field of passenger cars, trucks, and cars, how to allocate resources becomes a prominent issue; instead of decentralizing resources, it is better to concentrate on doing the best in one area.