The resurrected Zotye is about to go to overseas markets to cut leeks, but its predecessors are going bankrupt

October 26, 2022

Just in early October, a batch of electric vehicles destined for Ethiopia set sail from Qingdao Port. This batch of models comes from a little-known electric vehicle company, Reading Motors. At the end of 2018, the Ministry of Industry and Information Technology and other six ministries and commissions issued the "Notice on Strengthening the Management of Low-speed Electric Vehicles" to "upgrade a batch, standardize a batch, and eliminate a batch", which cut off the barbaric growth of the low-speed electric vehicle industry, and also made some originally The leading low-speed electric vehicle enterprises have started the road of transformation. The former low-speed electric vehicle giant, Redding Motors, became an "upgraded group" after strengthening management in the low-speed electric vehicle industry. After acquiring and reorganizing Sichuan Mustang to obtain the qualification, it started the road of new energy vehicle production. The transformed Reading is not well known for domestic EVs because its market is overseas. In March of this year, Redding shipped thousands of electric vehicles to Ethiopia for the first time. The African market has become another breakthrough market for Redding's car exports. In October, it was the second batch of electric vehicles shipped to Ethiopia. In the past year, Redding Motors has exported more than 30,000 electric vehicles to Mexico, Brazil, Panama, Peru and other countries and regions. Image source of the Leding car exported to Ethiopia: Leiding’s official website Leding exports an A00-class electric car with a battery life of 335 kilometers. Although it is on the same track as the Wuling Hongguang MINI, in the domestic market, the transformed low-speed electric car Car companies generally have a flat response. In 2020 and 2021, China's new energy vehicle exports will be 223,000 and 588,000 respectively. In the doubled growth space, there will be contributions from Reading. Redding Auto is another epitome of my country's new energy vehicle export development: looking for opportunities in underdeveloped regions such as Africa and South America as sinking markets. But don't worry, Redding's story isn't over yet. Let's take a look at the newly resurrected Zotye, a worshipper of Reading's story. Zotye, speculators Recently, Zotye Motors released the news that the overseas version of the T300 has been mass-produced off the assembly line. Yes, you read that right, the Zotye that declared bankruptcy in 2020. According to the official news released by Zotye, this batch of models off the assembly line is mainly for overseas markets such as West Asia, South Asia, South America, and the Middle East. The first mass-produced T300 is actually a model that Zotye launched as early as 2017. Source: From the Internet Zotye targets overseas markets, accurately covering the dominant market of Chinese brands. "Build momentum and play with capital." An industry insider commented on Xiang Pinjia. During the years of rapid development of my country's auto industry, Zotye, which can sell well even by relying on cottages, can almost be said to be the best at exploiting the loopholes in the auto industry. When the SUV was on fire, Zotye relied on the tape measure to launch a Porsche copycat version; when the country vigorously promoted new energy vehicles,

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