According to the official account of "Sichuan Observation", Dong Mingzhu, chairman and president of Gree Electric Appliances, responded to Gree's car-making progress in an interview recently. Dong Mingzhu said that Gree Automobile has been in progress. My main business is air conditioning and heating, but with self-control of the main business, we have extended many ancillary industries, such as new energy vehicles.
Dong Mingzhu said,We do not make cars, but we have too many sanitation vehicles, heavy trucks, various engineering vehicles, and buses. When asked by a reporter "Why did you give up family cars?" she said: "This is not called giving up but a strategic choice. If you want electric vehicles, I can provide them."
It is understood that in November 2011, Yinlong New Energy Co., Ltd. issued a document announcing that the company would be renamed "Gree Titanium New Energy Co., Ltd.".
All businesses of the original company will continue to be operated by "Gree Titanium New Energy Co., Ltd." and various business activities will be carried out normally.
The relationship between Gree and Yinlong New Energy can be traced back to 9 years ago.
In 2016, Gree Electric attempted to acquire Zhuhai Yinlong in preparation for cross-border car manufacturing, but was opposed by the board of directors and ultimately failed.Dong Mingzhu subsequently invested in Zhuhai Yinlong in his personal capacity, holding 10% of the shares.
In August 2021, Gree Electric issued an announcement stating that,The company participated in the judicial auction public bidding and won 336 million shares of Yinlong New Energy at a price of 1.828 billion yuan, accounting for 30.47% of the total share capital.
At the same time, Dong Mingzhu entrusted the company with the voting rights corresponding to the 17.46% equity he held in Yinlong New Energy.
At this point, Gree Electric controls a total of 47.93% of the voting rights of Yinlong New Energy, and Yinlong New Energy will become a holding subsidiary of Gree Electric.
As for why he invested in Yinlong, Dong Mingzhu said in 2019: "New energy is the country's future development strategy. Especially in the automobile industry, after so many years, we have not had a say in the automobile industry in the market. I feel that we must have our own things and use our own products to contribute to society. I think that is really valuable."