ZOTYE(SZ:000980) 3 6 Ke·2025-12-29 13:34Core Viewpoint - The article discusses the revival attempts of struggling automotive companies, referred to as "zombie car manufacturers," highlighting their efforts to restructure and attract investment despite their previous failures and challenges in the competitive market [1]. Group 1: Company Restructuring and Investment - Jidu Auto, backed by Baidu and Geely, has initiated a pre-restructuring process, attracting interest from various investors, including those from real estate and technology sectors [1]. - Zhejiang Qianhe Automobile Co., Ltd. was established in mid-December, focusing on electric logistics vehicles, having transitioned from real estate to high-end manufacturing [1]. - Robo.ai Inc. from Dubai has applied to participate in Jidu's restructuring as a strategic investor [3]. - WM Motor has announced plans to resume production of its EX5 and E5 models, aiming for significant sales and revenue targets by 2026 [5]. Group 2: Financial Health and Challenges - Companies like Shanzi Gaoke, which has transitioned to automotive manufacturing, face financial difficulties, with assets reported at 8.8 billion yuan and significant debt obligations [7]. - WM Motor's new backer, Xiangfei Automotive, was established in September 2023, raising concerns about its financial stability given its ties to the struggling Baoneng Group [8]. - The new board of directors at Zotye Auto includes several members with backgrounds in Chery Automobile, suggesting potential financing involvement from Chery [9]. Group 3: Market Viability and Future Prospects - Despite signs of revival, the long-term viability of these "zombie car manufacturers" remains uncertain due to their outdated products and lack of competitiveness [13]. - Companies like Nezha Auto and WM Motor have seen declining sales, raising questions about their ability to attract consumers with older models [14]. - The article suggests that the best path forward for these companies may involve selling production lines or engaging in contract manufacturing with more competitive firms [16].