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Chapter 1336 - 712 Penguin Car Bows Out Sadly (Please Subscribe)_2

Chapter 1336: Chapter 712 Penguin Car Bows Out Sadly (Please Subscribe)_2

A director suggested to Mr. Ma.

"Hmm."

Mr. Ma nodded slightly, just murmuring a response without any further comment on the suggestion.

"Mr. Ma, I don’t think that will work. Once we stop, we’ll lose any chance to re-enter the market. We should take a gamble and develop a new generation of Penguin Car to compete with Feiyue Automobile. They’re just a new company after all. With our solid foundation at Penguin Car, what’s there to fear?"

Another director was not convinced, unwilling to see Penguin Car bow out so meekly.

In fact, this director had a very good relationship with Kuang Xuejin, the chairman of the Penguin Auto Group, and naturally spoke up for Penguin Car during the board meeting.

"Liu, your words are a bit rash and excessive. Technology challenges are right in front of us, and we must recognize the reality. Otherwise, we’ll just cause greater losses for the Penguin Group. Isn’t this simple logic clear to you, Liu?"

The two directors began to argue with each other.

Bang, bang, bang!

While the two directors were in the midst of their heated argument, Mr. Ma tapped the conference table and, with a slight frown, said, "I see that on the one hand, you want to stop the losses in time by temporarily halting Penguin Car, and on the other hand, you want to continue investing in R&D to compete with Feiyue Automobile. Since that’s the case, let’s have the board vote on it."

Mr. Ma actually leaned more towards cutting losses in time and temporarily halting Penguin Car, looking for opportunities to re-enter the market later. But there were still quite a few people on the board who wanted to continue investing in R&D for Penguin Car to take on Feiyue Automobile. So after giving it some thought, Mr. Ma decided to have the board vote on the matter.

The board voted on the issue quite swiftly.

Out of the dozen or so directors, six voted to continue investing in R&D to compete with Feiyue Automobile.

The other nine directors, along with Mr. Ma, voted to have Penguin Car stop the losses in time and suspend its expansion in the new energy vehicle sector.

The final result was self-evident.

As soon as the board meeting was over, the decision was communicated to the Penguin Auto Group.

When Kuang Xuejin received the news, he was completely stunned.

His Penguin Auto Group, after all these years of operation, was being abandoned?

Faced with such a formidable competitor, was the Penguin Auto Group really only left with a dismal exit?

"Mr. Kuang, do we really have no options left?"

Dong Yan, the general manager of Penguin Auto Group, asked helplessly.

"The board has made its decision, what can we do? The pressure we face at Penguin Auto Group is just too great, unless we..."

Kuang Xuejin was also reluctant to accept this fate, trying to make one last struggle.

And what would that last struggle entail?

Kuang Xuejin had no idea either, because Feiyue Future New Energy vehicles were selling so well that they had become a national-level new energy car.

To compete with such a bestselling car and company, they would need to unite with other brand manufacturers, from both the domestic and foreign markets, and form an alliance to present a united front.

"Mr. Kuang, do you already have a plan?"

Dong Yan asked eagerly.

"It’s too difficult, too difficult."

Indeed, a thought had just flickered through Kuang Xuejin’s mind, which was to unite all the domestic car companies, excluding Feiyue Automobile, and even international car companies, to work together—only then might there be a possibility to compete with Feiyue Automobile in the domestic market, and even that was not guaranteed.

But this idea lasted merely a moment.

Because the current situation was much more difficult than what everyone saw. Whether it was Mercedes-Benz, BMW, Audi, or domestic car companies like BYD, Geely, and others, none could compete with Feiyue Automobile, and these car companies had also started to plan their exit strategies. If they couldn’t beat Feiyue Automobile in new energy vehicles, they would have to cling to their slice of the fuel car market.

Even if they manufactured new energy vehicles, they could focus on the lower-end market, with prices around tens of thousands yuan, so as not to compete too directly with Feiyue Automobile’s Feiyue Future.

"Mr. Kuang, no matter how difficult, we can still give it a try."

Manager Dong Yan suggested.

"Manager Dong," he said, "do you know that if we want to compete with Feiyue Automobile, we must unite all the domestic and foreign car companies and compete with Feiyue Automobile in the domestic market? But even so, we are very likely still at a disadvantage. Besides, uniting domestic and foreign car companies is as difficult as ascending to heaven."

Kuang Xuejin was very clear about reality, and reality was that cruel.

If they couldn’t do this, then Penguin Auto Group could only follow the decision made by the board of directors and, from now on, start to leave the stage sadly.

"Mr. Kuang!"

Dong Yan still wanted to suggest to the senior leaders to try and put up a fight.

But Kuang Xuejin sighed and said, "Enough, issue a public announcement. The production of Penguin 6 series and its related products will be suspended for now."

Penguin Auto Group had no choice but to halt production.

This was because the sales of the Penguin 6 series had reached a freezing point. If production continued, then the inventory would gradually increase, leading to greater losses for the company—a scenario the Penguin Group board of directors didn’t want to see.

"Mr. Kuang, is it really... over, just like that?"

Dong Yan’s heart was also very bleak.

After all, after joining Penguin Auto Group, she had put her heart and soul into the company over the years, watching it grow stronger and stronger. The Penguin 6 series of new energy vehicles was supposed to skyrocket and become the strongest new energy vehicle company in the country.

Unexpectedly, Feiyue Future New Energy had come out of nowhere and completely cut off the future development path for Penguin Auto Group, making the Penguin 6 series the last swan song of the company.

"What else can we do?"

Kuang Xuejin shook his head helplessly, "The path of Penguin Auto Group has come to an end now."

The entire office was filled with a sense of despair.

...

Over at Mist City Arts and Science University.

In the Principal’s office of the Administration Building, Ding Yue was dealing with some school affairs.

Suddenly.

Secretary Wen Ruohan let out a shriek, "Principal Ding, Penguin Auto Group has announced its exit!"

"What?"

Hearing Wen Ruohan’s loud scream, Ding Yue shot her a look and asked, "What do you mean, exited?"

"Penguin Auto Group, the one that competed with us before and looked down on us, has officially announced the halt of production for the Penguin 6 series."

Wen Ruohan said excitedly.

"Hahaha."

Hearing this, Ding Yue burst into laughter, "This was expected."

With his own Feiyue Future New Energy vehicles selling like hotcakes, the Penguin 6 series of Penguin Auto Group had no competitiveness or market presence at all, so their failure was inevitable.

What Ding Yue didn’t expect was that Penguin Auto Group would decide to halt the Penguin 6 series so soon.

For a car company to stop production of its latest and most advanced model without giving any reasons indicated that the company had reached a real impasse.

When the announcement from Penguin Auto Group was released, it also sparked a huge wave of hot discussion.

After all, Penguin Auto Group was once a well-known name in the domestic market, considered a major new energy vehicle manufacturer, enjoying a time where they were like the sun at midday. But now, they seemed ready to leave the scene, which inevitably made people sigh with emotion.

This topic raised all sorts of discussions and analyses about the reasons behind Penguin Auto Group’s decision to halt the Penguin 6 series, and the issue even climbed to the top of the trending list for a while.

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