Chapter 513: Round B, valuation of 12 billion! Brother Sen, I didn’t embarrass you!
"Mr. Wang, please follow me."
In the rest area of Building No. 9 in Zhuxianzhuang Science and Technology Park, Meng Yun greeted Wang Chao.
"Okay, thank you for your help."
Wang Chao pushed his glasses on the bridge of his nose, said thank you first, then followed Meng Yun into the elevator and rushed to the chairman's office on the top floor.
He is the vice president of BAIC's East China Production Base. He is 34 years old and holds a bachelor's degree in mechanical automation from Luzhou University of Technology and a master's degree in vehicle engineering from Tsinghua University. He has been promoted from the supervisor of the welding workshop.
He once went to the Volkswagen Wolfsburg plant in Germany for further studies, participated in the introduction of the EV200 production line, built a parts supply network in the Yangtze River Delta, designed flexible production lines, and realized mixed-line production of sedans and SUVs.
A true technical and practical person, he understands technology, supply chain, and the intricacies of factory operations.
Overall, his strengths are not outstanding, but he also has no obvious weaknesses. He is the kind of person who can get things done steadily and well given enough resources.
With a "ding" sound, the elevator door slowly opened!
Wang Chao walked while observing the surrounding environment.
Zhuxianzhuang Science and Technology Park was originally just a failed project in Xucheng. Before Orange Technology moved in, only a few small and medium-sized companies had offices there.
Therefore, the park's greening, interior decoration and surrounding facilities are difficult to describe.
In Wang Chao's opinion, the headquarters of Senlian Capital is a bit simple and far inferior to that of BAIC.
But he knew in his heart that with the strength of Senlian Capital, what kind of luxury building could he not buy?
It is said that the Luzhou headquarters will be put into use soon, covering an area of 430,000 square meters and a construction area of more than 700,000 square meters, which is in no way inferior to the scale of BAIC's headquarters.
“Knock knock knock—!”
Meng Yun stopped and knocked on the door.
"Come in!"
A calm and young voice came out.
After receiving instructions, Meng Yun turned the handle, pushed the door open and walked in.
Wang Chao did not dare to hesitate and followed closely.
As soon as he entered the door, he saw a young man in his early twenties sitting behind a purple-black desk.
The other person's eyes were deep and sharp, with a faint smile on the corner of his mouth.
He had seen this face countless times in the news and online media!
Chen Yansen, founder of Senlian Capital, is the new world's richest man with a net worth of over 600 billion yuan.
"Mr. Wang, please sit down. What would you like to drink?"
Chen Yansen looked at Wang Chao and asked.
"Mr. Chen, I'll just drink plain water."
Wang Chao pulled out a chair and sat opposite Chen Yansen.
Upon hearing this, Meng Yun took a bottle of mineral water from the beverage machine nearby and placed it in front of Wang Chao.
Then, without waiting for Chen Yansen's instructions, he took the initiative to leave and closed the office door.
"I heard that you led the team to develop the motor controller of BAIC EV200?" Chen Yansen asked with a chuckle.
"Yes, I disassembled the same controller in Wolfsburg in 2012. In fact, 37 of its parts can be replaced with domestic ones, such as the IGBT module using Star Semiconductor and the capacitors replaced by Faraday Electronics. While maintaining performance, the cost was reduced by 40%."
Wang Chao did not rush to answer. He first sorted out his thoughts and then replied slowly.
"What do you think is the most important thing to successfully build a new energy vehicle?"
Chen Yansen continued to ask.
"policy."
Wang Chao answered concisely.
He paused and continued, "Without subsidies, preferential license plates, and industry support policies, given the immature technology and high costs, I dare say we won't even sell 50,000 new energy vehicles a year."
"What else?"
Chen Yansen said without comment.
"The second is the breakthrough in battery technology. Before the emergence of Deep Blue Batteries, the energy density of traditional lithium iron phosphate batteries was only 90 to 120 watt-hours per kilogram, and the driving range was limited. Most of the pure electric vehicles launched by domestic automakers had a range of only 80 to 300 kilometers.
However, after the Deep Blue battery was launched on the market, although its performance problem was solved, its high cost shortcoming still exists, and it is still necessary to reduce costs by expanding production scale and forming economies of scale.
Wang Chao spoke eloquently.
"What do you think about the charging infrastructure? 'Battery swapping as the main method, plug-in charging as the auxiliary method' or 'Plug-in charging as the main method, battery swapping as the auxiliary method'?" Chen Yansen asked again.
"From the perspective of human nature and user habits, plug-in charging is definitely better than battery swapping."
Wang Chao answered with a firm tone.
Hearing this, Chen Yansen smiled lightly.
He didn't expect that although Wang Chao's performance on his resume was mediocre, his vision was commendable.
Next, he asked specific questions about the four major processes of stamping, welding, painting, and assembly, as well as the three electrical systems of batteries, motors, and electronic controls.
From the precision control of stamping dies to the automation rate standards of welding workshops; from the environmental protection process requirements of the painting line to the flexible production plan of the final assembly link, to the difficulties of battery thermal management technology, the energy efficiency optimization of the drive motor, and the response delay problem of the electronic control system, it almost covers the core links of the entire chain of new energy vehicle production and manufacturing.
Wang Chao answered the questions one by one, not only clearly explaining the technical solutions commonly used in the industry, but also pointing out the room for improvement in the existing model based on his own experience.
For example, he mentioned that laser welding technology can be introduced in the welding process to improve the strength of the joints, and the three-electric system needs to reduce energy loss through integrated design.
Although these insights may not be particularly brilliant, they are full of in-depth research on industry details and a deep understanding of the industry.
The approval in Chen Yansen's eyes gradually grew stronger.
The two chatted for an hour and a half.
What surprised Wang Chao was that Chen Yansen was also very familiar with production details, factory operations, and technical solutions.
But he didn't think much about it. After all, the other party was preparing to enter the new energy vehicle manufacturing industry, so how could they not put effort into it?
Not to mention the core technical framework, I'm afraid he even knows the details of the supply chain.
If I were to start making cars, I would probably have to study the upstream and downstream links thoroughly, otherwise how could I dare to act rashly.
Thinking of this, he became even more interested in the position of CEO of Orange Car.
Generally speaking, the boss's reliability will most likely determine the future direction and success or failure of the project.
Based on his observation of Chen Yansen, he believed that the other party's establishment of Orange Car was not a decision made on a whim.
From land planning to technology routes, from supply chain layout to market predictions, every step has precise planning.
The more Wang Chaoyue thought about it, the more he felt that it would be comfortable to follow a boss like this. There was no need to go to great lengths to engage in internal strife, as long as he did his job well.
The current question is, will the other party like me?
"Mr. Wang, today's interview ends here."
Finally, Chen Yansen spoke, stood up and sent Wang Chao out the door.
Meng Yun led him out of the science and technology park, asked for his bank card number, and said that he would reimburse his round-trip fare within a week.
So, I failed the interview?
Wang Chao pondered secretly, and a sense of loss arose in his heart.
He took a deep breath, hailed a taxi at the intersection, and rushed to the high-speed rail station dejectedly.
On the way, Wang Chao looked at the street scenes passing by outside the window, and his previous longing for the position of CEO of Orange Car slowly deflated like a punctured balloon.
Chen Yansen never mentioned his salary, discussed his responsibilities, or even said "wait for notice". Such a calm ending probably meant that he didn't think much of himself.
In fact, Chen Yansen was quite satisfied with his performance.
But there are still six interviewees in the first batch of screening. What if the next one is more suitable than Wang Chao?
Over the next three days, he interviewed the remaining people one by one. Some of them were smart but too worried; some were good at management but lacked experience in vehicle manufacturing.
After comparison, Wang Chao turned out to be the best candidate.
After figuring it out, he immediately picked up the landline on the table and said, "Meng Yun, hand Wang Chao's information to the background check agency. Contact the Human Resources Department and prepare a draft offer based on the highest salary agreed upon previously."
"Okay, Mr. Chen, I'll take care of it right away."
Meng Yun on the other end of the phone replied.
After hanging up the phone, Chen Yansen looked out the window.
In the next two to three years, Orange Auto will be in the preparation stage, first setting up a research and development laboratory, starting with motors and electronic control systems, and striving to master the core technology of electric vehicles before the great era arrives.
In addition, we have begun to develop integrated die-casting technology and set up a materials engineering team.
Cooperate with die-casting machine manufacturers to customize giant die-casting machines, which will then integrate major parts such as the floor, wheel arches, crossbeams and longitudinal beams into a complete cast aluminum component, thereby reducing welding processes and reducing production costs.
After he completes the technical accumulation of integrated die-casting and three-electric systems, it will be the best opportunity to fully enter the new energy vehicle industry.
The next day was November 18th.
OFO Bike completed its Series B financing in Hangzhou, led by Goldman Sachs, with follow-up investments from Penguin Capital and Sequoia Capital. The company was valued at 12 billion yuan and raised 1.2 billion yuan.
In other words, Senlian Capital now has another unicorn company under its name.
"Mr. Hu, with this money, the market share of OFO bicycles and OFO electric scooters can be increased by another 600,000 to 800,000."
In a conference room at OFO's headquarters, Wang Zihao opened a business report and reported to Hu Weiyi: "Currently, OFO's penetration rate in first- and second-tier cities is 69%, and in third- and fourth-tier cities it has reached 73.6%. Next, we will increase our investment and increase our market share to over 80%."
“Why not consider the county market?”
Hu Weiyi asked.
"The timing is not yet ripe. The demand for shared bikes in county-level markets is low, and local transportation infrastructure and user payment habits have not kept up.
If we expand rashly, not only will we have to install equipment and build an operations and maintenance team, but the subsequent vehicle wear and tear and management costs will also remain high, which is a complete waste of manpower, material resources and financial resources."
Wang Zihao dragged his mouse to switch to the user portrait interface and continued to explain: "Currently, core users are still concentrated in commuting and short-distance travel scenarios. The population density and travel frequency of county-level markets cannot support such a high investment volume.
Rather than spreading our focus thinly, we should first build strong barriers in first- and second-tier cities and third- and fourth-tier cities. Once the profit model in these cities is established, we can then bring the mature model down to the county-level market, where the risk will be much smaller.”
“Pah pah pah!”
Hu Weiyi clapped her hands with satisfaction.
She was not in favor of entering the county-level market in the first place, and she asked that question just now just to see what Wang Zihao thought.
She had to admit that the other party's growth rate really impressed her.
"Mr. Hu, I need to take two days off this week to go back to Xucheng."
After finishing the discussion of the main business, Wang Zihao mentioned it casually.
"no problem."
Hu Weiyi agreed readily.
She knew very well in her mind: Wang Zihao came to OFO mostly to gain experience and gain experience, and was destined to return to the group headquarters in the future.
Today she is his superior, but tomorrow Wang Zihao might become her superior.
After the meeting, Wang Zihao raised his wrist and glanced at the Rolex that Chen Yansen gave him, thinking to himself: Brother Sen, I didn’t embarrass you!
(End of this chapter)
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