It is said that “Hengchi 5” has resumed production in May, and as of the end of May, more than 1,000 new cars have been delivered.

At present, Evergrande Automobile Group is still facing the difficulty of shortage of funds. The management of the company is continuing to promote cost-saving measures, actively explore financing channels, and try its best to maintain the continuous operation of the Group.

Referring to previous report, Hengchi Automobile’s Tianjin factory resumed full production on May 23.

Liu Yongzhuo, president of Hengchi Automobile, said that the company will spare no effort to speed up the production and delivery of Hengchi 5, and continue to promote the R&D and production of subsequent models, so as to make the enterprise bigger and stronger and make due contributions to the economic development of Binhai New Area and even Tianjin.

On April 24 this year, Hengchi officially announced that due to insufficient funds, the Tianjin factory suspended the production of Hengchi 5. In addition, it is proposed to sell the issued shares of two subsidiaries, namely Huibao and FlamingAce, which hold 47 wellness space projects, to China Evergrande for a consideration of RMB 2.

In August 2020, Evergrande Automobile Group released the first six models of Hengchi simultaneously in Shanghai and Guangzhou. Hengchi 1, Hengchi 2, Hengchi 3, Hengchi 4, Hengchi 5, and Hengchi 6 were officially unveiled, covering Passenger car models such as sedans, coupes, SUVs, MPVs, and crossovers. Among them, the Hengchi 5 will officially roll off the Tianjin factory in early 2022, and there is no information on the other five planned models. According to the information disclosed by Evergrande Automobile, as of April 24, Evergrande Automobile has delivered more than 900 units of Hengchi 5 to customers. In November 2019, Xu Jiayin, Chairman of the Board of Directors of Evergrande Group, made a bold statement that by 2025, the annual. The production and sales will exceed 1 million vehicles, and the annual production and sales will exceed 5 million vehicles by 2035. Evergrande will become the largest and most powerful new energy vehicle group in the world.

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Evergrande had previously suspended other factories and concentrated resources on production at the Tianjin factory. The suspension of production at the Tianjin factory this time means that Hengchi has announced the suspension of production. However, officials say production is scheduled to resume in May 2023.

According to public information, Evergrande Auto was formerly known as Evergrande Health, which was originally responsible for operating China Evergrande’s big health business. In 2019, Evergrande entered the field of new energy vehicles, and Evergrande Health changed its name to Evergrande Auto. In this announcement, Evergrande Auto also plans to package and sell its 47 Health Valley projects to Evergrande at an agreed price of 2 CNY, and at the same time transfer 24.789 billion in debt.

In August 2020, Evergrande Automobile Group released the first six models of Hengchi simultaneously in Shanghai and Guangzhou. Hengchi 1, Hengchi 2, Hengchi 3, Hengchi 4, Hengchi 5 and Hengchi 6 were officially unveiled, covering Passenger car models such as sedans, coupes, SUVs, MPVs, and crossovers. Among them, Hengchi 5 will officially roll off the Tianjin factory in early 2022, and the other 5 planned models have not been disclosed. According to the information disclosed by Evergrande Automobile, as of April 24, Evergrande Automobile has delivered more than 900 units of Hengchi 5 to customers.

In November 2019, Xu Jiayin, chairman of the board of directors of Evergrande Group, made a bold statement that by 2025, the annual production and sales will exceed 1 million vehicles, and by 2035, the annual production and sales will exceed 5 million vehicles. Evergrande Automobile will become the largest and most powerful automobile in the world The strongest new energy vehicle group.

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Hengchi car WeChat public number learned that this Hengchi 5 OTA upgrade version for H-SMART OS V1.4.0, mainly to improve the intelligent driving, intelligent car and car-machine interaction three dimensions. It includes the following contents:

Intelligent driving

• Highway driving assistance HWA, which can realize full-speed adaptive cruise and lane centering on urban roads and expressways.
• Automatic Emergency Braking (AEB), monitors the driving environment in front of the vehicle in real-time, and automatically activates the vehicle braking system to slow down the vehicle when there is a possible collision risk.
• The door opening warning DOW, when the door is about to be opened in the parking state, monitors other road users on the side and rear of the vehicle, and issues a warning when there is a possible collision risk.

Smart car

• Intelligent battery replenishment, and optimized software strategy, to ensure that the battery can maintain the best state
• The function of preventing the key from being locked in the trunk, when the key is forgotten in the trunk, it will automatically open after the tailgate is closed, preventing the vehicle from being locked and unable to open the door.
• Other optimizations include seat heating, DVR function, seat function user switching response speed, and automatic high and low beam display.

Vehicle-machine interaction

• Optimize the navigation accuracy, improve the accuracy of the navigation system, and make travel more efficient and convenient.
• Optimize the display of the central control panel applet App, improve the screen motor and switching fluency of the central control panel applet App, and improve the experience of the car system.
• Other optimizations include 360 panoramic image display, USB media playback, navigation voice broadcast, and more.

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Evergrande New Energy Automobile stated that this version corresponds to H-SMART OS V1.3.4 software, and owners of upgraded vehicles will receive OTA update notifications one after another. This upgrade mainly improves the smart cockpit and comfortable configuration experience and optimizes driving texture and other aspects.

Optimize sleep wakeup
Low-temperature vehicle wake-up optimization
In cold weather, when the battery temperature is low, the vehicle activates the heating and heat preservation function to quickly raise the battery temperature to the optimal working temperature, which improves the vehicle’s battery life and battery safety in low-temperature environments.

Optimizing power supply from power battery to storage battery intelligently
The vehicle automatically replenishes power as needed to prevent the car from being unable to start due to power loss, and to prevent capacity decay caused by deep power loss of the battery and prolong the battery life.

Optimize the function of the slow charging port cover of the vehicle
Make sure that the slow charging port can be opened normally after the vehicle is unlocked, whether it is in a low temperature or high temperature environment.

Optimize the instrument anti-theft authentication display after the vehicle is powered on
Improve the communication stability between the anti-theft control system and the drive control system to ensure the normal transmission of signals between the two systems, so that the anti-theft authentication display of the instrument is always the same after the vehicle is powered on.

Optimize communication network signal
Improve the stability of the vehicle network and later software upgrades to ensure the normal use of intelligent interactive services.

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In addition, the announcement stated that in order to save costs, the Group is carrying out a series of cost-cutting measures, including reducing the overall number of employees, arranging for some employees to stop work, and some employees to reduce salaries. The Group will continue to exert its utmost efforts to create favorable conditions for the mass production of Hengchi 5.

On the 21st of this month, China Evergrande Group stated in a document issued by the Hong Kong Stock Exchange that the Hengchi 5, a new energy vehicle independently developed by its subsidiary China Evergrande New Energy Automobile Group Co., Ltd., was officially mass-produced on September 16 this year. Deliveries of series-produced cars will begin on October 29, 2022. As of December 7, more than 100 vehicles have been delivered.

Hengchi 5 is positioned as a compact SUV. The new car is equipped with a drive motor with a maximum power of 150kW and a peak torque of 345N m. It is equipped with a lithium iron phosphate battery provided by Ningde Times. The battery has a capacity of 72.8kWh and supports 90kW fast charging. % It takes 28 minutes. CLTC has a comprehensive battery life of 602km and an acceleration time of 7.8s to 100km/h. It provides L2.5 + level assisted driving function, equipped with four driving modes and three-speed energy recovery.

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Picture: The Hengchi display experience center is relatively cold.

Is this new car, which combines many points of interest, really as advantageous as the manufacturer’s publicity?

Showroom atmosphere is cold

“To be honest, I never thought that Hengchi 5 would be so popular in the end-consumer market.” On September 12, a reporter from China Consumer News went to the Hengchi display and experience center located in Dongba Road, Chaoyang District, Beijing, and heard the sales consultant share his inner joy as soon as he entered the store. Such a voice coincided with the views expressed by Liu Yongzhu earlier. It seems that Hengchi 5 has become the object of many consumers’ pursuit.

It was the mid-autumn holiday, and the square next to this experience center was bustling with a strong festive atmosphere. However, only a few dozen meters away from the Hengchi experience center is a different scene: a moonlight white display car and two sales consultants, making the arrival of the reporter is particularly striking.

In the process of introducing the vehicle, the sales consultant repeatedly hinted to the reporter that “the new car is recognized by many consumers”, releasing the signal that Hengchi 5 has high market popularity.

In recent years, new energy vehicles are playing an increasingly important role in the domestic auto market. The latest data from the China Association of Automobile Manufacturers show that in August, the market penetration rate of new energy vehicles has risen to 28%. In other words, for every four vehicles sold in the market, at least one of them is a new energy vehicle.

The wave of electrification has made new car brands, including Hengchi Auto, see a broader space for development. Unlike the mainstream new car brands, Hengchi Auto, which entered the market late, is bound to face more fierce market competition. Because of this, the market success of Hengchi 5 has attracted wide attention.

On July 20, Hengchi Auto announced at its “First 720 Hengchi Festival” that the number of orders for Hengchi 5 was 37,296 as of 19:00 that night, and this figure is still increasing. “.

The first 10,000 consumers who purchase a car in August can enjoy the purchase discount of 10,000 yuan against 20,000 yuan, and the reserved car owners will enjoy a number of rights and benefits, including a 60% discount on the value of the car within 3 years and a lifetime warranty on the three electric motors. The new energy vehicles are exempt from purchase tax. The new energy vehicles implement the purchase tax exemption policy, and the final market price of HCH5 is 169,000 yuan.

In order to further dispel consumers’ concerns about purchasing a car, Hengchi Auto has launched the “notary sale” model, in which consumers pay the pre-sale deposit, large deposit and the final payment for the purchase of the car to the designated notary’s special account, during which, if consumers do not successfully subscribe or choose to return the car within 15 days, the car will be returned from the notary’s special account to protect consumers’ legitimate rights and interests. The notary will refund the final payment from the notary’s special account to protect the legal rights and interests of consumers.

From product features to market pricing, from the purchase discount to purchase rights and interests, Hengchi 5 can be said to have made every effort to win more consumer recognition. However, the reporter found that the market performance of HCH5 is far from being as hot as it is claimed to be.

During the interview on September 12, the publicity page next to the only show car in the showroom caught the reporter’s attention. The information displayed on the promotional page was still the poster of the “First 10,000 units Mega Concession” marketing campaign in August, in which “if the subscription is not successful, the pre-sale deposit of 1,000 yuan will be returned from the special account of the notary on August 31” was a constant reminder that this promotional information has expired.

When the reporter asked the sales consultant whether there are still preferential places, the sales consultant gave a positive answer: “You can still enjoy the right of the first 10,000 owners to buy a car now, the opportunity is too good to lose.”

On September 14, when the reporter browsed the official website of Hengchi, he found that the promotional information about Hengchi 5 deposit of 10,000 yuan against 20,000 yuan was set in a prominent position on the website. It is worth mentioning that this time Hengchi did not give a deadline, only showing “Hengchi 5 hot subscription, the above rights and interests for the first 10,000 customers to purchase a car exclusive.

Is the total number of sales never exceeding 10,000, or the preferential policy is still continuing? As of press time, Hengchi Auto has not publicly disclosed the sales data of Hengchi 5. The actual performance of the Hengchi 5 in the end consumer market, which claimed that “the big sale has become a foregone conclusion”, is a bit baffling. More people think that the Hengchi 5, which is declared by the manufacturer and sales consultants to be a high market hit, is afraid that it is not worthy of its name.

There are differences in configuration

At present, with the profound involvement of intelligent network connections in automobile products, the self-driving function, which provides consumers with a better driving experience, is a necessary element for many consumers to consider when purchasing a car.

The Hengchi 5 is a pure electric luxury SUV that is designed to meet the needs of the mainstream market, and it is easy to see that intelligence is the main advantage that distinguishes it from other models from the publicity of the “Global Smart Pure Electric Luxury SUV”.

The reporter learned from the sales consultant that Hengchi 5 will officially open the first delivery in October this year. It is reported that Hengchi Auto, like other new car brands, adopts the direct manufacturer model, that is, the manufacturer schedules production according to the order information submitted by consumers, and then realizes vehicle delivery after production is completed. According to industry common sense, the configuration of the vehicle delivered to consumers should be the same as the functional configuration advertised by the manufacturer.

The reporter browsed the official website of Hengchi and the color page of Hengchi 5 product introduction and noticed a statement: “Configuration model configuration information may differ from the final mass production model.”

So, what exactly are the differences between the configuration and the manufacturer’s claims? The answer to this question is directly related to the consumer’s feelings with the car.

The reporter learned from the interview that the configuration of the difference is not an optional fringe function, but the most critical H-Pilot intelligent assisted driving package. The H-Pilot APP rights and interests interface clearly shows that consumers buy cars with intelligent assisted driving hardware as standard, and the corresponding software functions will be opened for free one after another. In this way, 16 assisted driving functions, including traffic congestion assistance, full-speed adaptive cruise control, lane keeping system, etc., will not be available to consumers until they are officially opened.

According to the official statement of Hengchi Auto, the above-mentioned functions are expected to open before February 28, 2023, consumers will wait for nearly half a year. Among them, for the majority of consumers are most concerned about the time information, “expected” expression not only does not dispel people’s concerns but also adds a lot of uncertainty.

In order to confirm the opening time of the assisted driving function, the reporter called the official customer service hotline of Hengchi, the new car consultant who answered said “not clear about the information”.

Some consumers questioned, has been, Hengchi 5 is located in the L2.5 + level intelligent assisted driving system, in which, the rich automatic driving function is its main advantage. According to the reporter’s interview, the upcoming delivery of the Hengchi 5, can really deserve the title of “global intelligent pure electric luxury SUV”?

The exhibition car is not a real car

“This car is only an exhibition car, not a production car, so many of the features you see and the actual car are different.” When the reporter sat inside the car and was experiencing the feeling of space in the back row ride, the sales consultant in the store said so to the China Consumer News reporter.

According to past experience, the auto companies will place the mass-produced real cars in the showroom for consumers to truly feel the quality of the vehicles. The practice of Hengchi Auto is obviously not in line with the mainstream industry perception.

When the reporter asked whether a non-mass-production model was placed because of the lack of mass production capacity, the sales consultant did not answer.

The salesperson explained that there are differences between the inductive electric tailgate and the front seat rear stowage of the vehicles in the showroom and the vehicles delivered. In a sense, even if consumers come to the store to experience the vehicle, they can only experience the vehicle’s driving experience in a general way.

As a vehicle that focuses on intelligent networking, the intelligent connectivity system of the Hengchi 5 has become another major focus of attention. Unfortunately, the display vehicle placed in the store is not networked, so visitors cannot truly experience the music ecosystem, car home connectivity and other intelligent networked features.

A sales consultant for the new car brand, who asked not to be named, said in an interview with China Consumer News, “Such a situation is not in line with the industry’s regular practice. For auto companies, they hope to attract consumers’ attention with high-quality products, instead of choosing ‘alternatives’ that cannot fully demonstrate the superiority of their products for exhibition, as this may cause consumers to have a poor experience and thus give up buying the model.”

In the face of all the above market performance of Hengchi 5, some consumers cannot help but ask: Is Hengchi Auto really ready?

The post Is Hengchi Auto really ready when delivery is imminent? appeared first on TechGoing.

At the beginning of the pre-sale of the HCH5, the first 10,000 users who ordered can enjoy the “deposit of 10,000 against 20,000” and “lifetime warranty” and other benefits, many people also sell “qualification numbers” in the second-hand trading platform. The company’s main business is to provide a wide range of products and services. Hengchi 5 this thing is boiling, many people feel that Hengda car “again line”, so what is its future?

According to statistics, Evergrande Auto has invested about 29.4 billion yuan, mainly in equity acquisition, research and development. Evergrande Auto has long planned its product lineup and developed 14 models simultaneously, covering A0, A, B, C and other levels and grades, covering sedan, coupe, SUV, MPV and other models, which can be seen its ambition. on May 12, 2021, Evergrande Auto announced that it has applied for 3012 patents at home and abroad, among which 1355 patents have been authorized, with a globally leading technology and complete industrial chain patent layout.

Xu Jiayin has said that Evergrande Auto will invest 45 billion yuan in three years, target sales of 1 million units in 2025 and 5 million units in 2035, and become the world’s largest and strongest new energy automobile group.

During the pre-sale period of Hengchi 5, Evergrande Auto, fearing that consumers would not buy it, specially issued an announcement that the pre-sale deposit, subscription deposit and final payment would all be paid to the special account established by Tianjin Jinbin Notary Office and supervised by the Notary Office. This behavior is also considered the auto industry’s “magic touch”.

The first 10,000 concessions, the money to buy a car into the notary’s account and other acts, undoubtedly reveal to the public, that Evergrande Auto is playing for real this time.

The post President Liu Yongzhuo reveals that the market response of Hengchi 5 is very good and the big sale is a certainty appeared first on TechGoing.

This vehicle marks a new era for the production company, and its specifications and design are impressive. From the company’s claims, this vehicle is off to a fine start in terms of sales. The pricing of this vehicle is just 179,000 Yuan ($26,690) after EV subsidies and the specifications are also impressive.

Read also: CATL’s new electric vehicle battery boasts a 1,000-kilometre range.

The electric motor on this vehicle is a 150kW Bosch motor which gives a torque of 345Nm. This works with the 72.8kWh CATL battery, which gives the vehicle a range of 602km (CLTC). Charge time on this new electric SUV is impressive, going from 30% to 80% in about 28 minutes.

Thanks to its battery and torque, this car goes from 0-100km in just 7.8 seconds. Its exterior design is ideal for an electric vehicle as it comes with a gloss finish. Hengchi 5 also offers prospective buyers the luxury of having an L2.5+ level assisted driving function. 

To help boost its sale, the production company is offering buyers the option of return under 15 days if it doesn’t meet expectations. The initial deposit the company is offering for this vehicle is just 10,000 Yuan (~$1,500). The Hengchi 5 manufacturers are taking a big bet with the sale offering of their new electric SUV. The question is, will the customers take a bite of what the company is offering for just 179,000 Yuan (~$26,690)?

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The sales staff revealed that the center reserved about 300 groups of customers, now pay 1,000 yuan can be “small”, the deposit can be refunded at any time, the earliest October can pick up the car.

As the first model of Evergrande Auto, Hengchi 5 is also regarded by the market as an important weight to help the debt-ridden Evergrande “turn the tide against the wind”. According to information, Hengchi 5 body size: 4725x1925x1688mm, wheelbase 2780mm, positioning compact SUV.

It is worth mentioning that the launch also said that Hengchi 5 is “the best pure electric SUV within 300,000 Yuan.

The post Evergrande Hengchi 5 cannot be test-driven, only construction vehicles will be delivered as early as October 1 appeared first on TechGoing.

Unlike other car companies’ pre-sale, the official “HCH5 pre-sale instructions” said that in order to protect the safety of consumers’ funds, the pre-sale deposit, subscription funds and final payment are all paid to a special account set up by Tianjin Jinbin Notary Office and supervised by the notary office.

More importantly, the car payment will be made only when Hengchi 5 is delivered, and the car can be returned within 15 days after picking up the car, and the car payment will be returned from the special account of the notary office. If the subscription is not successful, the pre-sale deposit of 1,000 yuan is returned from the special account of the notary office on August 31.

It is reported that the Hengchi 5 body size is 4725/1925/1688mm with a wheelbase of 2780mm, positioned as a compact pure electric SUV model.

Hengchi 5 is equipped with a 150 kW motor, 0-100 km / h acceleration time of 7.8 seconds, equipped with Ningde Times lithium iron phosphate battery, rated power 72.8 KWh, range of 602 km, in the fast charging mode, the power from 30% to 80% charging in just 28 minutes.

The post The number of pre-sale orders for Hengchi 5 exceeds 37,000, and the pre-sale price after subsidies is 179,000 yuan appeared first on TechGoing.