Genisse executives: a total loss of 3 billion yuan in China over the past three years, and none of the Chinese employees bought their own vehicles.

Thanks to CTOnews.com netizen Alejandro86 for the clue delivery! CTOnews.com, October 29, the details of the full staff meeting held in China later this month were recently revealed by several car bloggers. According to reports, the meeting was hosted by Lee Zhe, the chief coordinator of South Korea, who will be in charge of Genisse's China business.

The screenshot shows that the Genisse brand has lost a total of 3 billion yuan in the three years since it entered China, and has lost 1.2 billion yuan in less than 10 months this year. It is said that the current average bicycle marketing expenses of Genisse is as high as 710000 yuan, and the high marketing expenses are regarded as one of the "important reasons" for the huge losses.

Li Zhe also said that employees have "no feelings for the company": not a single Chinese employee of Genisis has bought the brand's vehicles in the past three years. At the same time, he also said that "if you leave the company now to seek external development, you will be welcome."

CTOnews.com previously reported that Denisse announced its return to the Chinese market on April 2, 2021 and conducted a drone formation air show on the Shanghai Bund with 3281 drones, setting a Guinness world record for the number of drones used.

In the second half of this year, Genisse announced that the brand sold more than 1 million vehicles worldwide. Originally sold only in its home market in South Korea, the brand has since expanded to 17 markets, including China, North America, Europe, Australia and Russia.

As of August 2023, Genisse released cumulative global sales figures of 1008804 vehicles, of which South Korea accounted for 690177 vehicles and other markets accounted for 318627.