Hengchi 5: How $300 Billion In Debt And The World's Top Auto Designers Created A Mediocre Car

Автокөліктер мен көлік құралдары

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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Пікірлер: 74

  • @97Syahmie
    @97Syahmie10 ай бұрын

    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

  • @Scarbir

    @Scarbir

    10 ай бұрын

    Indeed! Low-key great!

  • @Sparkpluggy
    @Sparkpluggy10 ай бұрын

    Man, everything that's even marginally related to Saab seems to go belly-up.

  • @gluttonousmaximus9048

    @gluttonousmaximus9048

    10 ай бұрын

    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

  • @tren133

    @tren133

    10 ай бұрын

    @@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.

  • @igormac88

    @igormac88

    10 ай бұрын

    The sweeds left and buried a skeleton head at the factory. Bad luck forever

  • @MaticTheProto

    @MaticTheProto

    9 ай бұрын

    It’s sad really

  • @mipmipmipmipmip

    @mipmipmipmipmip

    3 ай бұрын

    Volvo might still be around but Polestar apparently isn't doing very well either

  • @stanbimi
    @stanbimi10 ай бұрын

    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.

  • @Wheelsboy

    @Wheelsboy

    10 ай бұрын

    I’d watch that movie!

  • @A350Airways

    @A350Airways

    Ай бұрын

    ​@@Wheelsboy I'd rather have a horror movie or game with said tycoon as the protagonist and the antagonists being banks and angry homeowners...

  • @theolich4384
    @theolich438410 ай бұрын

    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.

  • @Wheelsboy

    @Wheelsboy

    10 ай бұрын

    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.

  • @akhilkarandikar99

    @akhilkarandikar99

    11 күн бұрын

    @@Wheelsboy they are setting up a factory in my area, half interested in how badly it goes

  • @reginald7214
    @reginald721410 ай бұрын

    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.

  • @Wheelsboy

    @Wheelsboy

    10 ай бұрын

    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.

  • @amniote69
    @amniote6910 ай бұрын

    NEVS have produced a working electric car, the Emily. However it seems that Evergrand aren't going to finance it.

  • @Wheelsboy

    @Wheelsboy

    10 ай бұрын

    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.

  • @tangfelix7091
    @tangfelix709110 ай бұрын

    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

  • @etbadaboum
    @etbadaboum9 ай бұрын

    Imagine being a car collector in China, you'd need to be a billionaire

  • @zodiacfml
    @zodiacfml10 ай бұрын

    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.

  • @SuperchargedPanda
    @SuperchargedPanda10 ай бұрын

    Very good review! Thanks for sharing these information so we can hold on tight and wait for the next car they will produce.

  • @Wheelsboy

    @Wheelsboy

    9 ай бұрын

    Do you really think they'll make more cars? It seems like it will be difficult given their financial health.

  • @mipmipmipmipmip

    @mipmipmipmipmip

    3 ай бұрын

    Still waiting! I have 17 million dollar and need 1 car so I would be a perfect customer 😂

  • @henryyang8247
    @henryyang824710 ай бұрын

    Good insights

  • @user-gc1hg9sp9k
    @user-gc1hg9sp9k10 ай бұрын

    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

  • @taterkaze9428
    @taterkaze942810 ай бұрын

    Presenting / scripting continues to improve. Good channel.

  • @arnoldkevinlim1768
    @arnoldkevinlim176810 ай бұрын

    Can you please review Geely L7 and L6? Thank you

  • @hammondnordland4822
    @hammondnordland4822Ай бұрын

    Shows that these design boss clowns aren't any good without good designers working for them, they are just expensive empty shells.

  • @Tommy-jf6fr
    @Tommy-jf6fr7 ай бұрын

    Please review geometry C 2024 also

  • @unclezeppy
    @unclezeppy9 ай бұрын

    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.

  • @jamieshields9521
    @jamieshields952110 ай бұрын

    NO, that logo is like Holden logo, mmmmm maybe this company got better chances building electric Holdens then Saab?

  • @peterbland7227
    @peterbland722710 ай бұрын

    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.

  • @GHOOGLEMALE
    @GHOOGLEMALE10 ай бұрын

    Haha - your best review

  • @thebigcheese6606
    @thebigcheese660610 ай бұрын

    Looks like it melted in the sun. Nice review.

  • @ChipChat1493
    @ChipChat149310 ай бұрын

    For every apartment you buy, you get one free car..

  • @ideallogic
    @ideallogic10 ай бұрын

    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 ... ?

  • @Wheelsboy

    @Wheelsboy

    9 ай бұрын

    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.

  • @ideallogic

    @ideallogic

    9 ай бұрын

    @@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

  • @user-jn9dl9px6r
    @user-jn9dl9px6r10 ай бұрын

    Hongcer Logo looks like current Holden logo.

  • @mianwu3466
    @mianwu34667 ай бұрын

    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.

  • @jortuspelatus7364
    @jortuspelatus736410 ай бұрын

    Never thought I'd hear the word 'furry' in a car review...

  • @Wheelsboy

    @Wheelsboy

    9 ай бұрын

    Never thought I'd use the word "furry" in a car review, but if the shoe fits!

  • @Brick-Life
    @Brick-Life10 ай бұрын

    RIP anyone who is going to want this car!

  • @deurkl
    @deurkl10 ай бұрын

    If the interior doesn't creak when pushed it's already better built than any Mercedes haha

  • @mipmipmipmipmip

    @mipmipmipmipmip

    3 ай бұрын

    Well for $17 million per car the interior better be made of gold 😂

  • @Andi_mit_E
    @Andi_mit_E10 ай бұрын

    Looks like a facelift of the Aiways U5

  • @Wheelsboy

    @Wheelsboy

    9 ай бұрын

    Dude, it really does.

  • @123fourfive5
    @123fourfive510 ай бұрын

    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.

  • @Wheelsboy

    @Wheelsboy

    10 ай бұрын

    I don’t think it will even get the chance to reach Daewoo levels of success.

  • @TerjeL
    @TerjeL10 ай бұрын

    I hope it comes to the EU 🥳

  • @ZAR556
    @ZAR5569 ай бұрын

    RiP this car probably DoA

  • @benjaminloehner257
    @benjaminloehner25710 ай бұрын

    According to Evergrande, 320 have been sold. 320. Forget that car, forget Evergrande.

  • @Wheelsboy

    @Wheelsboy

    9 ай бұрын

    I thought it was 900! A number like 320 is even more depressing...

  • @mipmipmipmipmip

    @mipmipmipmipmip

    3 ай бұрын

    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

  • @Wheelsboy
    @Wheelsboy8 ай бұрын

    Are you interested in purchasing a Chinese vehicle and exporting it to your country*? We can help by connecting you with a reliable exporter! Email us at sales@wheelsboy.cn *We currently cannot support customers in the United States, Canada, or right hand-drive nations due to import regulations and unavailability of right hand-drive models

  • @Hkchinese888

    @Hkchinese888

    3 ай бұрын

    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

  • @mipmipmipmipmip

    @mipmipmipmipmip

    3 ай бұрын

    ​@@Hkchinese888 and how they provide maintenance, considering 1 chinese EV brand goes bankrupt every month.

  • @Hkchinese888

    @Hkchinese888

    3 ай бұрын

    @@mipmipmipmipmip it's a Ponzi scheme

  • @rikuurufu5534
    @rikuurufu553410 ай бұрын

    What??? Isn't that just how blind spot cameras work?

  • @Wheelsboy

    @Wheelsboy

    10 ай бұрын

    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.

  • @chillfluencer
    @chillfluencer10 ай бұрын

    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.

  • @Wheelsboy

    @Wheelsboy

    9 ай бұрын

    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.

  • @thejoyofreason8692

    @thejoyofreason8692

    8 ай бұрын

    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.

  • @Hkchinese888
    @Hkchinese8883 ай бұрын

    go buy one, quick, each car costs 17 million USD 😂😂😂

  • @mipmipmipmipmip

    @mipmipmipmipmip

    3 ай бұрын

    This reviewer was very privileged, driving one of the most expensive cars in the world 😂

  • @izzyifdu7599
    @izzyifdu759910 ай бұрын

    Peugeot logo 🙄

  • @idk-lz4nl
    @idk-lz4nl10 ай бұрын

    APPEALING TO THE FURRY COMMUNITY LMFAOO 💀💀💀💀💀

  • @user-mj9tr3ym5t
    @user-mj9tr3ym5t10 ай бұрын

    I don't have any hopes for this hengche brand tbh its not unique nor is it any better than something like byd nowadays.

  • @morganangel340

    @morganangel340

    10 ай бұрын

    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.

  • @Wheelsboy

    @Wheelsboy

    10 ай бұрын

    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.

  • @mohammadrezajafari8452
    @mohammadrezajafari845210 ай бұрын

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