The youth car asset, which is known as "you can run with water", has been auctioned, and some former employees say they have not yet received compensation.
CTOnews.com January 9 news, once because of the "water hydrogen car" popular youth car, now only a place of chicken feathers after bankruptcy.
According to time Weekly, recently, Jinhua Youth Automobile Manufacturing Co., Ltd. (hereinafter referred to as "Jinhua Youth Automobile"), the main car manufacturing entity of Youth Automobile Group, and a number of related assets of related companies have been auctioned on Taobao Ali Asset bankruptcy auction platform. The auction targets include vehicles, land use rights, company equity and so on. However, the auction is not very smooth, in a number of auctions that have ended, some of the target logistics auctions will be reduced to wait for a second auction.
It is reported that the relevant auction began at the end of last year, with three land use rights and construction projects on the ground for youth cars being auctioned in advance. As the first auction failed, a second auction will be held on January 15, and the starting price has been lowered. In addition, some subsidiaries held by Youth Lotus Holdings will also be auctioned together.
CTOnews.com learned that Jinhua Youth Automobile was founded in 1996, located in Jinhua City, Zhejiang Province, with Pang Qingqing as its legal representative. Youth cars once became the "leader" of the luxury bus market and won the bid for the 2008 Beijing Olympic Games. According to media reports, by 2008, luxury buses with a unit price of more than 1.3 million yuan accounted for more than 70% of the national market, and luxury buses with a unit price of more than 2 million yuan accounted for 100% of the national market.
On August 21, 2017, Pang Qingqing announced in a high profile that the company had produced the world's first water-hydrogen fuel car, claiming that it could run as long as it had water. In 2019, after some media reports, Hydro cars were widely questioned. Some netizens thought that young cars were "fraudulently compensated". The Ministry of Industry and Information Technology responded that it was not included in the "announcement of vehicle production Enterprises and products" and could not apply for subsidies for new energy vehicles. After the Nanyang "water hydrogen car" incident, in October of that year, Hangzhou Xiaoshan District people's Court ruled that Hangzhou Youth Automobile Co., Ltd. went bankrupt. In 2021, Jinhua Youth Motor entered the bankruptcy liquidation procedure.
A former employee said that he left the company after the youth car went bankrupt, but he still did not get the compensation he deserved and did not pay for his old-age insurance.
