Reaching the age of thirty, my income randomly doubled

Late May, Greater Magic City.

The first ray of sunlight of the day seeped through the window and refracted into the room.

Chen Pingsheng stretched and climbed out of the large room.

Unlike living in a Siheyuan in Capital City, where one felt a sense of tranquil timelessness,

there was a nostalgic flavor.

In Magic City, however, it was different: skyscrapers, luxury cars, yachts, and the mesmerizing neon lights everywhere revealed a decadent luxury.

After completing the IPO of Tenghui Department Store in Xiangjiang, he had rushed back from there.

After washing up, he picked a white Richard Mille watch worth 12 million from his watch cabinet.

He wore it on his wrist.

He then buckled up his Hermès belt with an H buckle, and his black suit, each piece costing over six hundred thousand, had to be worn.

Along with a fifty-thousand-dollar white shirt which he never washed at home.

He looked in the mirror.

A middle-aged man, already somewhat handsome, under the absolute ratification of money,

had become a genuinely charming gentleman.

His wife, Song Yanxi, had already gotten up, their family in Magic City always lived in this large mansion worth 1.2 billion and over 500 square meters.

Of course, it had already appreciated to around 1.8 billion by now.

The craziness of the housing prices was evident from this.

Such a property, with its unbeatable night views, was already extremely luxurious.

The only thing it perhaps lacked was a family swimming pool.

Chen Pingsheng himself had 11.6 billion, and his wife had another 3.8 billion from selling her stock.

Whenever the money in the account surged, she would take out her heirloom computer,

and keep dialing non-stop.

You would think she was calculating accounts, but in fact, she was figuring out how to spend the money.

The Group’s progress to this stage meant they no longer needed to use their own money for subsidizing investments, besides new projects.

That is also why Chen Pingsheng now dared to use over a hundred billion to enter the new energy sector.

"Husband, how should I use these tens of billions to make more money?"

"You don’t need to make money from money now, transfer another 28 billion to me from your end, and feel free to spend the remaining ten billion however you wish!"

"Oh," said Song Yanxi as she crossed out a significant figure. She asked curiously, "Are you really going to enter new energy?"

"I must, haven’t we already discussed this?"

Chen Pingsheng gave her a kiss, his darling wife still smelled delightful.

With an additional 28 billion from his wife, raising a total of 14.5 billion,

he was entirely ready to start construction.

Unlike those Internet founders who achieved financial freedom and entered new energy but hesitated to spend too much capital,

Chen Pingsheng was determined to invest adequate funds to ensure the project would far exceed typical new energy startups in its early phase.

Only when funds were in place, everything else could naturally fall into place.

Among the four top-tier cities, Magic City definitely had the richest land resources.

It was also one of the top ten global mega-cities.

The other domestic city on the list was naturally Xiangjiang.

"Though you’ve finalized plans with me, I still think the risks are too high,"

In traditional industries, with their family’s existing group resources, it was simply a matter of crushing the competition.

But new energy was different; it was an entirely new field.

It also gathered the best entrepreneurial talents in the country, undeniably making the competition world-class.

This was destined to be a brutally competitive elimination race.

Chen Pingsheng was fully confident.

For the group’s future and himself, he had to undertake this venture.

2016.

With the national government’s strong support, just in that year alone, nearly two hundred teams emerged aiming to enter new energy.

How many were trying to opportunistically use the new energy initiative to deceitfully access local government resources, no one could say for sure.

Nor could anyone ascertain how many truly intended to build good vehicles.

May 24th.

Tong Zelan and Shen Nanpeng had introduced him to three people.

One of them was Yan Minghui, the former dean of the Sany Heavy Industry Research Institute.

This was a leading enterprise in Southern Province, and Sany’s owner had also been the wealthiest man in the country at one point.

It was also a world-class heavy industry group.

Another was the Vice President of Huawei’s Consumer Business Department, and there was also the Vice President of BMW’s Greater China Automobile Division.

It can be said that if all three of them could join his team, then the original executive team would be fully assembled.

To poach these top talents with annual salaries over ten million was not an easy task.

Fortunately, Tengying Group had always had a good reputation.

At first, they didn’t talk about changing the world.

Nobody comes over just to listen to you peddling dreams, that kind of thing works on the youth.

To allure these top talents was simply impossible.

Chen Pingsheng first laid out his own conditions, for those willing to join his team.

The first offer was a Tomson Riviera suite with an area of 500 square meters per person.

A luxurious mansion with a market value of about a billion, which they could choose at their own discretion.

In addition, he would offer 15% of the stock options in the new energy vehicles.

After five years, they would be free to cash out.

Each person would receive 5% of the stock options.

Do you think this is a small amount of money?

You should know that he himself was genuinely planning to invest twenty billion in new energy, not even considering the appreciation that would follow.

This was an initial share worth over three billion, just needing five years to become cashable.

With such conditions laid out, if the capital market were to invest, they certainly would not approve his terms.

After all, he was spending over thirty billion to poach three people even before starting the project.

Who could bear that?

This was also the main reason why Chen Pingsheng initially used his own money, bluntly speaking, he was still an outsider in the car market.

He had only invested in , a second-hand car sales website, though it was developing quite well.

But compared to the volume of new energy, it wasn’t nearly at the same level.

"Mr. Chen, I would like to know what your future plans are for engaging in new energy?"

The Vice President of Huawei’s Consumer Business Department asked him.

Talking about reaching the top three domestically and top five globally at such a time is basically nonsense.

Chen Pingsheng earnestly said, "I have only one plan for the future: to manufacture good cars and sell them at low prices, which aligns very well with my group’s business philosophy. Let’s not talk about what I can achieve in the future, within five years, I personally will invest at least twenty billion into the new energy vehicle sector."

"I don’t care how high the initial investment costs are, what I care about is whether I can really make a car that not only satisfies the customers, but also makes them feel it’s worth more than they paid." n/ô/vel/b//in dot c//om

"This idea of yours sounds simple, but it’s very difficult to achieve," remarked Yan Minghui, the former dean of the Sany Heavy Industries Research Institute. "Today, new energy vehicles start at three to four hundred thousand; to achieve popularization, that is, to compete in market share with fuel vehicles, you must reduce the price to around one hundred thousand level."

"To reach this level, not to mention batteries and other raw materials, you need to have your super plant, without your own factory, whether it’s cost or other aspects, it will be difficult to control."

Currently, what’s interesting about new energy is that most are still outsourced to traditional car manufacturers.

You say these cars produced by traditional car manufacturers, can they be called new energy?

Isn’t that just changing from fuel to battery-driven or using hybrid technology?

Technically, it’s not too difficult.

"We need a super factory, and we can build our own," Chen Pingsheng said nonchalantly.

"Mr. Chen, do you know how much it costs to build such a super factory?"

"How much?" Experience more content on empire

"Starting at eight billion."

This was no small sum, especially since his car hadn’t even come out yet,

and without knowing how well it would sell, he was planning to spend eight billion to build such a super factory.

This would undoubtedly greatly increase the risk of starting a business.

Chen Pingsheng nodded, "Eight billion is nothing, since I am committed to doing this, I have naturally prepared for a large investment, I plan to spend 12 billion to build my own super factory in Magic City."

Without a factory, having others manufacture your cars means you can’t grasp the cost.

Secondly, the quality of the products would also be hard to control.

Cars, after all, are not like mobile phones; making them poorly could truly be deadly.

He said he must keep the costs and future quality under his own control,

even if that meant spending over a hundred billion to build his own factory.

It was worth it.

In the long run, he always believed that whoever could control the costs to the maximum extent,

had the right to last in this race.

As for those car manufacturers that couldn’t even control their costs, elimination was inevitable.

Any startup in the country, whatever the industry, wouldn’t it ultimately bare-knuckle price wars?

Unless you’re in high-end or luxury goods.

He, a newcomer to the car industry, wouldn’t stake his life on going high-end.

Firstly, use substantial capital to control the manufacturing costs, that’s what truly puts you a step ahead.