Becoming Rich with Daily Scavenging APP-Chapter 397: Exceptional Value for Money

The battery swap stations proposed by Li Bing indeed address this pain point to some extent.

Electric vehicles can swap batteries directly at the station and leave once done.

If this technology can really become widespread, then electric vehicles will be able to go on long-distance trips in the future.

"How many battery swap stations has Future Automobile built now?" Chen Yiyang asked out of curiosity.

"We’ve already deployed eighty battery swap stations in nine cities," Li Bing replied.

"That’s far too few."

"It’s just the beginning, it will indeed be a bit slow," Li Bing was unconcerned about this, "Our battery swap station requires only about 43 square meters of space, and any industrial electricity can meet the charging needs.

Moreover, our current battery swap station can complete a swap in just three minutes, saving customers a significant amount of charging time."

"Does the government support this?"

"At this stage, we haven’t received government support," Li Bing said, "We’re looking for the relevant channels to convey this idea up the chain. If Mr. Chen, you have these channels, I wonder if you could lend a hand."

Oh, so he wants me to buy shares for this reason.

Chen Yiyang instantly understood what Li Bing meant.

The reason Li Bing suddenly wanted Chen Yiyang to invest was clearly because he hoped Chen Yiyang could utilize his connections to get government support and assistance for Future Automobile’s battery swap station construction.

After all, in the eyes of many outsiders now, Chen Yiyang’s connections are nothing short of miraculous.

You’ve seen how Changcheng as a veteran car company, and Wei Yujun, with his remarkable connections,

Even he felt suffocated when facing Chen Yiyang.

The automotive manufacturing plant in Brazil being taken may be attributed to Chen Yiyang having connections there.

But in Thailand, right at the doorstep, the deal to acquire an automotive manufacturing plant had already been agreed upon, and the collaboration that was set in stone was forced to be cancelled, which shocked those who knew the details.

Up till now, no one knows why Wei Yujun chose to give up the Rayong Manufacturing Plant in Thailand voluntarily.

There’s not a single hint about it.

In this situation, Li Bing’s invitation for Chen Yiyang to invest so as to have the government support Future Automobile’s battery swap station plan is naturally understandable.

However, Chen Yiyang’s investment strategy has always been to become a major shareholder.

He considered that even if he were to invest in Future Automobile, he might only get a few percent of the shares.

So he declined, saying he currently had no spare funds for external investments.

Li Bing was not in a hurry; he exchanged contact information with Chen Yiyang before leaving.

As soon as Li Bing left, Zhao Feipeng returned immediately.

"What did he talk to you about?" Zhao Feipeng asked curiously.

"Fei Peng Automobile and Future Automobile aren’t in the same race, are they? Why are you so curious?"

"Just learning from others’ experiences in attracting investments," Zhao Feipeng said with a hint of envy, "If Fei Peng Automobile could attract half of the investments Future Automobile has, it wouldn’t be in such a dire situation now."

Chen Yiyang wasn’t deeply knowledgeable about Future Automobile, hearing Zhao Feipeng’s words made him curious, "Isn’t it normal for Future Automobile to have a lot of major shareholders and investments? What’s there to envy?"

"Future Automobile has burned through ten billion yuan since its inception, and currently, it continues to burn nine million a day. Even if Fei Peng had major shareholders, it couldn’t burn money like this."

Chen Yiyang was also astonished by what Zhao Feipeng said.

He really didn’t know that Future Automobile had already burned through ten billion yuan.

What’s the concept of ten billion yuan? The current market value of Fei Peng Automobile isn’t even that amount.

Even the current market value of Future Automobile is barely that amount.

This rate of burning money is indeed frighteningly fast.

"Why is so much money being burned?" Chen Yiyang asked out of curiosity.

"Look at their financial report for this year. Future Automobile spent fifteen billion just on administrative expenses alone, yet they only sold 220,000 cars in a year. That’s an average of seventy thousand per car."

Future Automobile is taking the high-end route. The high-end aspect isn’t just about the car’s price, but also about their services.

The services Future Automobile provides are arguably the best among current electric vehicles, offering things like on-site tire repair, chauffeur service to the airport as standard.

If you have an argument with someone, you can even have Future Automobile’s customer service argue back on your behalf with just one click.

Not to mention, Future Automobile has also built Future Centers for car owners, providing regular services and organizing gatherings and family activities for them.

It’s safe to say that apart from building battery swap stations and charging poles, most of Future Automobile’s money is spent here.

Chen Yiyang did some simple calculations of these expenses.

"How much cash flow does Future Automobile have left now? If they keep burning cash like this, they won’t even be able to put all their cash into it, let alone make a profit from selling cars."

"It’s said that their debt has exceeded their assets."

That was almost a pitfall.

Chen Yiyang felt a pang of regret.

If he had carelessly agreed to Li Bing’s conditions earlier.

Once he bought into Future Automobile, it would mean stepping into a big pit.

Apparently, not only did Li Bing hope Chen Yiyang could help with connections, but he also expected Chen Yiyang to put money in to help maintain some cash flow.

But at a burning rate of nine million a day, even Chen Yiyang couldn’t sustain it.

To think that Lei Jun has invested about ten billion so far to make cars,

And that amount isn’t even enough to cover half a year for Future Automobile.

"That’s terrifying," Chen Yiyang murmured.

"What’s so terrifying?" Just then, a voice rang out.

Chen Yiyang turned his head, it was Lei Jun.

"Mr. Lei," Chen Yiyang hurriedly greeted Lei Jun.

"There’s a celebration after the launch event today, both of you must come," Lei Jun invited Chen Yiyang proactively.

"I might have something else to do tonight," Chen Yiyang hadn’t decided whether to attend the evening banquet.

The main worry was if he really saw Wei Yujun, what if it gets him so angry he faints?

Chen Yiyang also didn’t think he had the temperament to refrain from mocking the adversary.

"Mr. Wei from Changcheng also said he has something tonight, and you’re indicating the same, so am I not going to have any guests at all tonight?" Lei Jun said smilingly to Chen Yiyang.

If Wei Yujun isn’t coming, then it’s settled.

"I’ll definitely be there tonight," Chen Yiyang immediately agreed.

At 7 p.m., Rice Auto’s launch event officially began.

Rice SU7, smart driving version priced at 215,900.

Super long range, advanced smart driving priced at 245,900.

Four-wheel-drive super long range, advanced smart driving priced at 299,900.

The prices are shocking.

Mainly because the prices are highly cost-effective.

These are truly just ’friend prices.’

"Wasn’t it said that Rice was planning to go the mid-to-high-end route? These prices are too low," Chen Yiyang couldn’t help but discuss quietly with Zhao Feipeng next to him.

"First, capture the market, see the brand acceptance, and then try to penetrate the high-end sector," Zhao Feipeng, on the other hand, immediately saw Rice’s plan.

Because Rice’s cost-effectiveness really isn’t aimed at making money.

Even if lower-end models were launched later, no one would buy them, because the cost-effectiveness of su7 is too high, and by then, everyone would rather buy the old version than the new one.