Nazhijie, someone finally took over!The buyer is Foxconn, whose "dream of making cars has been shattered several times."An announcement from Yulon Group officially announced that its electric vehicle business entity, Lazie Auto, was sold to Honghua Advanced Technology. The transaction amount was NT$787.6 million, which is approximately RMB 176 million. Honghua Advanced Technology, which took over Nazhijie, is a joint venture established by Foxconn and Yulon in 2020.


After the acquisition is completed, Honghua Advanced Technology will hold 100% of Luxgen and will have the operational leadership of Luxgen, including its five automobile dealership companies, sales outlets and all employees. The transaction is expected to be completed in the first quarter of next year and is subject to approval by the Taiwan Fair Trade Commission.

In that era when Internet jokes were in the ascendant, Nazhijie single-handedly contributed to the most intensive "fuel consumption memes" in the history of Chinese automobiles.

Unexpectedly, Luzhijie, a brand ridiculed as the "strategic partner of PetroChina and Sinopec," has become the best puzzle piece for Foxconn's "car-making dream."

01 Nazhijie’s dignified exit

After the acquisition is completed, Luzhijie may disappear.

After Yulon Group issued the announcement, the acquirer Honghua Advanced Technology made it clear that although "Honghua Advanced" will take over the assets of the original Lucjet and its sales companies in the future, new cars will no longer use the Lucjet brand in the future, but will be sold under Honghua Advanced's independent brand "Foxtron". At that time, the Lucjet brand will gradually withdraw from the market.

Then a press conference was held to officially announce its new electric vehicle brand, Foxtron Bria, which is scheduled to be officially launched in the first quarter of next year.


According to official disclosures from Honghua Advanced Technology, Bria will initially launch three configuration versions, with a price range ranging from US$28,600 to US$36,500. It will be built based on the Model B platform previously released by Honghua Advanced Technology, targeting the mainstream pure electric passenger car market.

It will also go overseas in the future. Chen Qingya, chairman of Honghua Advanced Technology, said that this car is also the first mass-produced pure electric model for global export. It is planned to ship electric cars to Australia and New Zealand next year, but it will not use the Foxtron or Luxgen brands.

This also means that this traditional old car brand has officially retired after 17 years of operation. The existing N7 will be the last model in the history of the N7 brand. Yulon disclosed that there are still about 700 to 800 N7 vehicles in stock to be digested.

In the Internet circle, the brand Nazhijie is too popular, not because of how strong it is, but because it has contributed so many hot memes.


Founded in 2008, Nazhije was one of the earliest representatives of "Chinese cars". It was formerly Yulon Motors, a long-established car company. It has a history of more than 60 years and has also established a joint venture with Dongfeng.

In 2008, Yulon Group and Zhejiang Zhongyu Group established Nazhijie (Hangzhou) Automobile Co., Ltd. in Hangzhou with a 50:50 share ratio. Later, in 2010, due to Zhejiang Zhongyu Group withdrawing from the vehicle manufacturing project, Yulon Group and Dongfeng Motor formed a joint venture to establish Dongfeng Yulon.

The Lucjet brand officially entered the mainland market. During the SUV dividend period, this car was indeed very popular. Sales exceeded 30,000 units in 2012, and sales reached a peak of 60,300 units in 2015. It became one of the representative brands in the Chinese high-end car market at that time.

However, its subsequent 2.2T engine was lagging behind in technology, resulting in extremely high fuel consumption. At that time, the legend about Nazhijie was almost metaphysical:

"You will never be able to fill up with enough gas if you don't turn off the engine." "Nazije car owners rarely answer the phone because gas stations can't answer the phone." "What kind of family can afford to drive a Nazije Grand 7?" Even second-hand car dealers shunned it. They bluntly said, "When I buy this car, except for the fact that the fuel gauge pointer rotates faster than the meter needle, everything is better."

Even the previous first-generation Jikrypton 001 was affectionately nicknamed by netizens - "Electric Nazijie" because of its high power consumption.

Through these great reputations, it is not difficult to predict the extremely embarrassing situation of Luzhijie. The technological gap caused Luzhijie to completely fall behind in the final competition of the internal combustion engine era. Luzhijie, which has only a full set of electronic configurations, has become a typical negative teaching material in the eyes of the industry.

It was not until 2020 that the supplier filed for bankruptcy and liquidation, and Nazhijie withdrew from the mainland market. In 2023, Dongfeng Group and Yulon Group also withdrew from the ranks of shareholders.

Nowadays, Nazhijie, who only lives in "jokes", can be said to be close to "existing in name only". Now it has been officially announced by Foxconn to take over, which can be regarded as a dignified exit.

02 The dream of building a car after repeated defeats

Now that Nazhijie has been abandoned by the times and its reputation has completely collapsed, why does Foxconn still spend this unjust money?

In fact, Nazhijie has had direct contact with Foxconn for a long time.

The acquirer, Honghua Advanced Technology, owns nearly half of the shares of Yulon Group. After Nazhijie Automobile withdrew from the mainland market in 2020, Honghua Advanced Technology Company was established in the same year.

It was Yulon Group that invested in the "Huachuang Technology" technology responsible for the research and development of Nazhijie, and cooperated with Terry Gou's Hon Hai Group to establish "Honghua Advanced", which is responsible for the development of new energy electric vehicles. The initial registered capital is NT$15.576 billion, of which Hon Hai Group holds 45.6% and Yulon Group holds 43.8%.

In September 2022, Lucjet launched its first pure electric model, the Lucjet N7. In fact, this car was built by Honghua Advanced based on the Model C prototype exhibited by Hon Hai Group at the 2021 Hon Hai Technology Day.


To put it bluntly, Foxconn built the car under the shell of Nazi Generator. Unexpectedly, after the launch of Nazi Generator N7, it not only got rid of the burden of being a "gas tiger", but its single-month sales even surpassed Tesla Model Y, becoming a dark horse in the Taiwan market.

Although Foxconn manufactures its own cars, it has always been unjustified. Honghua Advanced has also been trying to find brands other than Lucky to cooperate, but there has been no progress. The second N5 based on Model B has not yet been launched.

For Foxconn, the 176 million yuan in exchange for not only a brand name, but also a full set of "hardware facilities" needed to realize its car-making ambitions.

Foxconn has not only acquired a ready-made vehicle sales and service network, but also made up for its shortcomings in "terminal and channel capabilities" that have long been questioned by the outside world.

The most important thing is the vehicle production qualification which is extremely scarce nowadays. In the context of the industry's entry threshold being almost closed in 2025, Foxconn has directly skipped the long approval and factory construction cycle through its wholly-owned holding of Nazhijie, and has justifiably transformed from an "OEM" to a "regular army."


As we all know, Foxconn has been conveying its firm determination to build cars to the outside world in recent years. However, the process has gone through twists and turns. It can be said that "I got up early and haven't made it to the market yet."

Beginning in 2005, Foxconn purchased Antai Electric, one of the well-known automotive wiring harness factories, and began manufacturing automotive electronics such as battery cables, reversing radars, and smart devices. It was regarded as the starting point for entering the automotive field. In the following ten years, Foxconn successively entered the supply chain of Tesla, BMW, Mercedes-Benz and other car companies.

It really entered the field of car manufacturing in 2015, when Foxconn teamed up with Tencent and Harmony Automobile to form a new car manufacturing company, Harmony Fortum, the predecessor of Byton and AIWAYS. However, this new car-making force soon fell apart. At the end of 2016, both Foxconn and Tencent withdrew.


Subsequently, it also invested in Xpeng Motors, and then established joint ventures with Geely Automobile and others. However, these investments ended unhappy.

In 2021, Foxconn will acquire a factory from the electric vehicle company Lordstown Motors for 1.469 billion yuan to manufacture cars. However, just in August this year, Foxconn announced that the factory was sold to an "existing business partner" for US$375 million.

Foxconn has owned this factory for more than three years, but it has not achieved any large-scale electric vehicle production. The sale of the factory also marks the end of Foxconn's North American car-making dream.

Later, Foxconn also established a relationship with Fisker, a new American car-making force, and planned to mass-produce models by the end of 2023. It was once rumored that it would purchase a production line from Vietnam's VinFast, but in the end it came to nothing.

In total, Foxconn has been in the field of car manufacturing for ten years, but it is still a layman when it comes back.

at the moment,Luxjet is undoubtedly the best model house, and everyone is happy with what they need. Foxconn can finally realize its dream of building its own car.