It’s truly astonishing that 97 employees of DeepBlue Motors sold their homes or took loans, raising over $14 million in cash for the company. If DeepBlue CEO Mr. Deng Chenghao hadn’t revealed this information himself, it might have been hard for many to believe.
A Bold Move in Challenging Times
In today’s environment, where reducing personal debt has become a common priority, hearing that 97 employees went as far as selling their homes to support the company is surprising and noteworthy.
However, this also reflects the employees’ deep trust, commitment, and emotional investment in the company, which is commendable.
Achievements of DeepBlue Motors
December 2024, DeepBlue Motors celebrated the rollout of its 400,000th vehicle. CEO Deng Chenghao disclosed that a total of 97 employees sold their homes or took loans, collectively contributing over $14 million to the company.
•Former CTO’s Contribution: Even the former CTO, nearing retirement, contributed $450,000.
•CEO’s Contribution: Deng himself sold his house and took loans to invest $750,000 during the company’s Series B financing round.
Deng stated, “When 97 employees made this commitment, the company’s operations became simpler. Everyone aligned towards one goal: making DeepBlue a success.”
This level of dedication has played a crucial role in DeepBlue Motors’ impressive achievements.
Rapid Growth in Less Than Three Years
DeepBlue Motors, launched in April 2022, has quickly emerged as a significant player in the electric vehicle (EV) market.
•July 2022: The first production model, the DeepBlue SL03, received 10,000 orders within 33 minutes of its launch.
•September 2023: Within 14 months, the company surpassed 100,000 cumulative sales.
•2024 Milestone: DeepBlue rolled out its 400,000th vehicle in December.
Among traditional automakers’ EV brands, DeepBlue’s performance is remarkable.
Commitment from Employees
The willingness of employees to make personal sacrifices demonstrates their confidence in the company’s business model, product competitiveness, and market prospects. This commitment has boosted employee morale, cohesion, and dedication. It also reduced internal management costs for the company.
Potential Risks and Lessons for Other Companies
Fortunately, DeepBlue Motors is backed by strong financial support from its parent company, Changan Automobile, with expertise in manufacturing, funding, technology, and supply chain management.
However, such an approach comes with risks. If the company’s financial performance were weak, these employee sacrifices could lead to personal financial strain and emotional stress.
Companies considering similar strategies must:
1.Ensure robust financial health.
2.Assess employees’ risk tolerance.
3.Implement proper risk management measures.
Bright Future Ahead
DeepBlue Motors is optimistic about its future. For 2025, the company aims to achieve annual sales of 500,000 vehicles, with 400,000 units targeted for the Chinese market and 100,000 for overseas markets.
We hope DeepBlue Motors continues to provide exceptional user experiences and achieves greater success in the global market.
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