Reaching the age of thirty, my income randomly doubled

Baiyun Headquarters, compared to the one in Magic City,

was a whole six floors taller. Atop the building, besides a huge rooftop swimming pool,

there was also an extra-large helipad.

His Sikorsky S-92 helicopter, which he had purchased for 32 million US dollars, was parked on it.

This was known to be the most luxurious helicopter in the world, capable of carrying 19 passengers.

For this, he had even specially hired a pilot within the group.

Even Yang Mi was astounded by such luxury.

The top floor was his own private space, and outsiders definitely couldn’t come up without his invitation.

Just the rooftop swimming pool and helicopter alone cost at least ten million a year to maintain and use.

That showed just how wasteful it was.

His personal office at Baiyun Headquarters was no ordinary large space; it even had a special rest room.

The office environment could be said to be quite luxurious.

Gao Hu brought Xiao Danchun to see him, and seeing Yang Mi there, he first got an autograph for Xiao Danchun.

Yang Mi sat on the Huali wood sofa with her legs crossed.

After swimming for a while, she was somewhat hungry.

She was also urging Pingsheng to go eat, but he couldn’t be bothered with her.

"Old Chen, you didn’t come all this way just to see your brother, did you?"

"I’m not that idle."

Chen Pingsheng invited him to sit down; those from Guangdong liked to drink tea and chat, and he also had this habit.

"Besides setting up a short drama filming center here, the most important thing for me this time is to check on the development of the Dream Fund. Additionally, I am waiting for an important guest."

"Who is it that made you travel from afar and keep waiting like this?"

"A battery manufacturer who was recently discovered to have defrauded the government subsidies of the new energy market, and now the company is facing bankruptcy reorganization."

Defrauding of new energy subsidies had been rampant in the past one or two years, typically involving building new energy vehicles and then selling them to oneself.

Then claiming the government’s vehicle subsidy funds.

After that, the vehicles could either be dismantled or locally utilized.

Just this shell game alone could net a tidy sum of money.

Enjoy exclusive adventures from empire

Gao Hu was surprised, "Even with such problems, you still want to cooperate with him? Old Chen, are you sure you aren’t making a mistake?"

"Although their management had issues, their battery technology and production capacity are still there,"

Chen Pingsheng said, "Don’t worry, I plan my actions and certainly wouldn’t blindly engage in something. The key thing is that battery production is a lifeline for new energy, which I must control."

The three main components of fuel vehicles are the chassis, engine, and gearbox.

The reason why the domestic industry strongly supports new energy is primarily because these three areas have already fallen an era behind internationally.

All sorts of patents and technologies cannot be circumvented.

Talking about surpassing them is nothing but a daydream.

New energy is different. The three main components for electric vehicles are the battery, electric motor, and controller.

New energy vehicles are more akin to electronic products.

It’s a brand new track, a return to a level playing field, where talk of surpassing becomes possible.

This is the main reason why the domestic sector is vigorously developing new energy.

It can be said to be completely a new industrial revolution.

If Chen Pingsheng couldn’t even master battery technology, wouldn’t his new energy business then be nothing but an assembly plant?

Gathering all the parts together and then slapping on the Tengfei brand.

He didn’t think that such an approach would have much of a future.

Therefore, even with the risks rising exponentially, he still wanted to control the battery lifeline himself.

Gao Hu had no choice but to wait there as well.

The business Chen Pingsheng was to entertain was called Otecode, the largest Lithium Iron Phosphate battery factory in the country.

Its founder was also the former head of technology at BYD.

The factory was doing well, located right across from BYD.

If you were to ask whether Otecode’s battery technology was good, it definitely was.

The key issue was that its production capacity had expanded too quickly, and the new energy market environment these past few years just couldn’t keep up.

There simply wasn’t a need for so many batteries to be produced.

The penetration rate of new energy vehicles wasn’t even 3% of that of fuel vehicles.

Otecode had been madly expanding its production capacity in the past two years, mainly because of the government subsidies.

Production capacity shot up, yet they found they couldn’t use up all the batteries they produced.

Meanwhile, the government introduced a series of new rules for subsidies this year. To get a subsidy, you must now meet multiple conditions.

This made his life very difficult.

Chen Pingsheng invited him to dine, traveling in his top-tier helicopter to a farmhouse in the center of a lake island.

The four rotors "whirred" in the sky.

Below, countless people looked up, wondering which big shot was leaving work.

Taking a helicopter was truly extravagant.

The farmhouse on the small island in the lake was quite private.

Surrounded by a vast reservoir, it could only be reached by boat or helicopter to Lake Heart Island.

From the outside, it was impossible to see the specific facilities on Lake Heart Island.

They were completely hidden by the dense forest around it.

Chen Pingsheng parked the helicopter on a vacant grassland.

Being able to dine in such a place meant you were either wealthy or esteemed.

The menu was strictly wild game or authentic seafood.

There was nothing you couldn’t imagine that couldn’t be eaten here.

Of course, the prices were also incredibly high.

Just one course starting with baby fish was at least eight thousand.

A meal here could easily cost upwards of a hundred thousand.

Chen Pingsheng didn’t care; he only cared if the flavor was authentic.

He also definitely wouldn’t start the conversation about investing in or acquiring the battery factory, since he wasn’t the one short of cash—it was the battery factory that was.

Without ten or twenty billion for blood transfusion into this battery factory, closing down would be a matter of at most half a year.

The reason Chen Pingsheng chose Otecode among so many battery factories was mainly because the marketing department had been researching for a full three months.

This confirmed it as the optimal acquisition target.

What he lacked most right now was battery technology, which Otecode happened to possess.

Key was also its sufficient production capacity, with a staff of over eight thousand.

This kind of super factory could only be said to have run too fast.

Before the new energy had fully taken off, it had already expanded its production capacity too greatly.

This inevitably led to massive losses, and he always believed that Otecode should focus on battery research.

Abandon the idea of getting into new energy yourself.

To perfect the battery to the utmost and become an upstream supplier in this industry, wouldn’t that be better than entering vehicle manufacturing yourself?

"Mr. Chen, President Tong from Jin Lan Capital has mentioned you to me several times, and there’s no need for us to be secretive this time. President Tong is aware of my factory’s situation; we are indeed facing difficulties right now, and if you are willing to cooperate, this is certainly the best opportunity."

The meeting today was also thanks in part to Tong Zelan’s efforts.

It’s just that she’s abroad again, which is why she couldn’t come.

Pingsheng closed the menu, and for people of their level, conversation often required no additional tricks.

Just be sincere.

After all, anyone who had reached this level could be considered a master among masters.

Sincerity is the ultimate technique in negotiations.

"Tong Zelan has indeed mentioned your factory to me several times, and to revive your battery factory would require at least fifty billion."

"And..."

Pingsheng paused before continuing, "If we were to cooperate, I hope you could abandon the idea of producing new energy vehicles yourself and focus solely on battery research and development. To put it without any exaggeration, in the future new energy industry, range is still the most critical, and the lifespan of the battery is even more so the lifeblood of the battery factory."

New energy vehicles may be difficult to comprehend.

Electric vehicles are easier to understand, right? They seem to save money on fuel, but after one or two years, the battery is practically ready for the scrap heap.

And replacing the battery costs at least several hundred at a minimum.

The key factor inhibiting the development of new energy right now is still the issue of battery lifespan.

Like an ordinary person buying a new energy vehicle to save money.

After driving it for a few years, the battery is completely dead.

To drive it further would require a full replacement, and the cost of replacing the battery is almost enough to buy a new car.

How is that saving fuel? It’s clearly a trap.

Without solving this issue, new energy vehicles simply can’t develop. n/o/vel/b//in dot c//om

This is also the main reason why Pingsheng insisted on controlling the largest lithium iron phosphate battery factory in the country.

If you want to develop a new energy technology enterprise, you must possess core technology.

Only in this way can you stand invincible in the future.

Of course, the risks are also incredibly high.

To acquire such a super battery factory, fifty billion would basically be enough.

But if you want to fully revitalize it,

You’d need to invest at least a hundred billion in battery research and development.

All added up, he would need to invest over three hundred billion into this industry right from the start.

Unthinkable.

"Mr. Chen, you’ve really struck a chord with me," Zhang Zhiyao exclaimed. "In the early years, I led the factory’s technicians in developing battery technology, and we made rapid progress. In recent years, in order to keep up with the times, we crazily expanded production capacity, resulting in our current inability to use it all up."

"The idea of producing new energy vehicles myself was mainly because we couldn’t sell the batteries. If I could, I would really like to return to our original mission and work earnestly on battery technology research and development."

"Unfortunately, nearly ten thousand people in the factory depend on me for their living. If I fail to bring back money, the factory closing down is just a matter of time."

It can only be said that he was a good technical director, but certainly not a good operational director.

Those who are good at technology often aren’t good at marketing.

If you are adept at both, you can look at Lei Jun as a reference.

Such people are extremely rare.

This fits in perfectly with Pingsheng’s vision.

"Tong Zelan’s estimated value for your factory is 52 billion."

Having reached this point in the conversation, Pingsheng had no reason to beat around the bush, a factory like this being the largest lithium iron phosphate battery factory in the country.

If he didn’t acquire it, many others would be willing to do so.

The key was to see who could offer better terms.

This kind of factory would either collapse completely, or rise to success.

There are only these two outcomes.

"I am willing to offer fifty-five billion for a full acquisition, plus an additional hundred and fifty billion to be invested directly into your factory’s battery research and development over three years. CEO Zhang, you only need to focus on researching battery-related patents in the future. Leave the market to me."

"In addition, you personally can obtain 12% of the original shares."

This offer stunned Yang Mi and Gao Hu who had been focused on eating their meal.

Had Old Chen become this bold?

He had just invested over a hundred billion in building a new energy mega-factory in Magic City.

Now he was going to spend fifty-five billion to fully acquire the country’s largest lithium iron phosphate battery factory,

And within three years, he’d inject another hundred and fifty billion into it.

Was he really going all-in on the new energy track?

Yang Mi kicked Pingsheng with her foot.

Big brother, don’t be impulsive.

We all know you’re rich, but even the wealthy don’t take this approach.

And this is just the investment in the battery factory. What about the electric motors, the control systems?

How much more would be needed to excel in those areas?

It could only be said that new energy truly became a super money-consuming beast within the group.

You can’t see where its limits are at all.

Zhang Zhiyao felt like signing the contract right away if he hadn’t left it behind.

To cash out fifty-five billion while also obtaining 12% of the original shares.

And the key was the guarantee of a hundred and fifty billion in battery technology research and development over the next three years.

This was quite astonishing.

In the field of new energy vehicle enterprises in China, only BYD had made such a high investment in their battery factory.

The others were far behind.