Picture source: every photo taken by reporter Sun Tongtong (data map)
On June 26, Lantu Automobile established an independent legal person company, the company registered as “Lantu Automobile Technology Co., Ltd.”, jointly funded by Dongfeng Motor Group Co., Ltd. (hereinafter referred to as Dongfeng Group) and Lantu Automobile’s core employee shareholding platform Established. Among them, core employees hold more than 10% of the shares. This means that Lantu Automobile, as a subsidiary of Dongfeng Group, has started independent operations in the true sense.
It is understood that Lantu Automobile has launched an equity incentive plan for the core backbone of the enterprise, and will also introduce strategic investors to explore more possibilities in the capital market.
“As an important strategic layout of Dongfeng Group’s transformation and upgrading, Lantu Motors carries the dual mission of Dongfeng’s brand upgrading and exploring new models of independent brand development. Lantu Motors operates as an independent legal person, which reflects the development of high-end new energy vehicles and innovation by Dongfeng Group. The determination to reform. Dongfeng also expects Lantu Motors to maintain openness and cooperation, with a more market-oriented business philosophy, to accelerate its development as a leader in China’s high-end new energy passenger vehicles.” Dongfeng Motor Group Co., Ltd. Party Committee Standing Committee Member and Deputy General Manager You Zheng said.
During the Shanghai Auto Show this year, Feng Changjun, member of the Standing Committee of the Party Committee and chief accountant of Dongfeng Motor Group Co., Ltd., said in an interview with the reporter of “Daily Economic News”: “Lantu adopts independent corporate and legal person operations, and core employees hold shares simultaneously. In the future, the capital market platform will be widely used, including the introduction of more strategic investors for co-creation. In fact, Lantu has adopted a brand-new strategy, mechanism and management team, which is also a very important area for Dongfeng as a central enterprise to promote reform.”
Feng Changjun revealed that Dongfeng Group prefers private capital to weaken the label of state-owned enterprises. The strategic investor introduced by Lantu Motors should be an active shareholder rather than a financial investor. It should have a synergistic relationship with the upstream and downstream of the industrial chain, or in some cases. To empower Lantu Auto. At the same time, Feng Changjun also emphasized that as a core business and strategic business, Dongfeng Group will not surrender the controlling stake in Lantu Auto.
At present, high-end smart electric vehicles have become a “new outlet”. In addition to new car manufacturers such as Tesla, Weilai, and Ideal, traditional car companies such as SAIC, Great Wall, and Changan have also launched high-end new energy brands.
In July last year, Dongfeng Group officially released the Lantu brand, and its first model, the Lantu FREE, was launched on June 19. In terms of channels, Lantu Auto has now opened 14 directly-operated stores nationwide, and the number of directly-operated stores will exceed 50 by the end of this year.
According to the plan, from 2021, Landu Auto will release at least one new car to the market every year; in the next 5 years, Landu Auto’s products will cover multiple market segments such as cars, SUVs, and MPVs, and continue to expand the product lineup. According to Dongfeng Group’s “14th Five-Year Plan”, by 2025, Lantu’s car sales will reach 150,000.
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