God of Corporate Hunting - Chapter 224



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◈ Episode 224 Porsche (2)

“No, what is the Autobahn?”

Shin Cheol-ho poured out his complaints.

“why?”

Yoon Se-bin asked because he didn’t know English.

“When you think of the Autobahn, you think of unlimited speed! That’s what comes to mind, right?”

“But?”

“The speed is so fast that even a Porsche would cry!”

The car was stuck and couldn’t go faster than on a Korean highway. As a result, Shin Cheol-ho’s wish to enjoy the speed of driving a Porsche was like a dream.

The guy’s plan to show off his driving skills in front of Yoon Se-bin also went up in smoke.

Nam Yun-myeong actually slept in the back seat.

The aftereffects of not being able to rest properly for several days and analyzing documents are finally starting to hit me.

Shin Cheol-ho glanced at him through the rearview mirror and became even more dissatisfied.

“No! That kid is just sleeping comfortably while the highway has become a parking lot!”

“Director Nam must be tired too.”

“That’s because you act like you did all the work by yourself. If you’re tired, isn’t CEO Yoon the most tired?”

A smile appeared on Yoon Se-bin’s face.

“That’s true. So… can I sleep too?”

“Oh my! If you’re tired, you should definitely sleep. I’ll make you feel as comfortable as if you were lying in bed!”

Shin Cheol-ho quickly changed his stance.

The driving that had been aggressively speeding up until now has changed and has become smoother, as if going slowly.

Yoon Se-bin leaned his tired body against the seat.

The few days I spent in Zurich, Switzerland felt like a dream.

Is this a dream come true? The dream of establishing a world-class investment bank has come true.

Although she did not establish the bank herself, she has become the head of a long-established investment bank with a long history and tradition. She has immense power, controlling a total of 750 trillion won.

If she can normalize this bank, she will establish herself as the bank’s owner and representative.

Now, her father will not be able to ignore her anymore, at least not since CSK is far superior to Korea Bank in every way.

She was grateful to Nam Woon-myung for helping her achieve her dream.

She slowly turned her gaze to the back seat.

His sleeping face looked peaceful.

How could I repay this favor? I felt like I could do anything for him now.

She also closed her eyes as she glanced at the back seat.

My body, exhausted from accumulated fatigue, sagged as if submerged in water.

* * *

It wasn’t until the next day that I visited Emforce with Jürgen Bauer of Birkenstock Capital.

Emforce is a venture that develops motors and transmissions for electric vehicles, and has handled most of the powertrain, which is the core of automobiles.

During the internal combustion engine era, this was a key field in which only the world’s major automobile manufacturers had a monopoly on technology.

There are a huge number of automobile engine parts, and their technical difficulty is also very high. Automobiles are a technology-intensive industry that involves integrating companies that manufacture hundreds of engine parts to ultimately complete the engine, making it difficult for just anyone to touch them.

Now, after a hundred years, the automobile industry is facing a major transition towards electric vehicles.

The technological threshold has been lowered significantly compared to the past.

Compared to internal combustion engine motors, electric vehicle motors have 1/10th the number of parts.

Thanks to this, we have entered a world where small and medium-sized ventures like Empos are jumping into the development of electric vehicle powertrains with novel ideas.

Bauer introduced Empos’ CEO, who sounded like a recent college graduate.

“This is Peter Annen, as I mentioned.”

“Nice to meet you.”

Peter led them into the conference room.

On their way to the conference room, they passed what appeared to be a laboratory and workshop.

In many places, several electric vehicles were disassembled, leaving only the main body behind. Including Tesla, the representative electric vehicle, and even Korea’s DH automobiles were seen.

Shin Cheol-ho’s mouth fell open.

“Who dissected all these precious things?”

Peter explained with a smile.

“We don’t make the body of the car. We only make the motor engine. So the actual test is done by removing the motor from an existing finished car and attaching the electric motor we developed to it.”

At first glance, it looks like an auto repair shop.

“No matter what, it’s rude to cut a car into pieces like this…….”

Nam Woon-myung asked a question, ignoring Shin Cheol-ho, who kept grumbling.

“How many employees do you have now?”

“There are a little over 20 of them. They are all crazy about cars.”

Most of those 20 people are researchers and developers. Of course, even if they are crazy about cars, they are not crazy like Shin Cheol-ho. They are crazy about developing and researching cars.

“Is the performance good?”

“It’s better than expected. This field requires in-depth understanding and knowledge in both electrical and mechanical fields. Surprisingly, such talents are rare. Furthermore, those who are passionate about cars are even more rare. A large number of such employees gather and work day and night with one mind.”

The results were obvious. At the very least, it meant that they had developed a powertrain that was superior to the powertrains used in existing electric vehicles.

“Have you ever worked with or received orders from existing companies?”

“no.”

It was a somewhat disappointing answer.

Nam Woon-myung sensed that Yun Se-bin’s face was frowning.

Since they are non-experts, there is no way to know whether they truly have competitive technology or are just good at presenting it.

Of course, Nam Woon-myung wasn’t worried. The reason he chose this company in the first place was because he saw the fate of the CEO. There is no doubt about Peter’s technical skills.

Peter continued.

“But you don’t have to worry. Even now, if we push ourselves, we can deliver the product to the finished car manufacturer right away. The reason we don’t do that is because we believe that our product still has room for improvement. Even though it is superior to other companies’ products in terms of performance, we need to widen that gap a little more. When that happens, the delivery problem will naturally be resolved.”

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He was confident. Was it because he was still young or because he was confident in his skills?

“Your ultimate goal is to deliver to Porsche?”

“It is known that Porsche has set a grand plan to make more than 80% of its vehicles electric in 10 years. Porsche’s electric vehicles will maintain the reputation of its former sports cars. Our Emforce pursues a similar direction. That is why I think it is the most suitable supplier. It also happens to be located in the same neighborhood.”

Peter said he spent his childhood in this neighborhood.

As I often encountered Porsche in Stuttgart, where Porsche’s headquarters are located, I ended up making parts targeting Porsche.

“Have you ever met Porsche?”

“Not yet. I’m not ready. But I’m also very familiar with Porsche’s technology, especially electric car motors. We can modify our products to suit Porsche even now. I think it’s just a matter of time.”

We arrived at the conference room while chatting about this and that.

As soon as we sat down at the table, Peter handed us the company’s financial documents for investment.

While Bauer was explaining to Yun Se-bin and Shin Cheol-ho, Nam Woon-myung reconfirmed Peter’s fate.

My destiny has become clearer than when I only saw it in pictures.

He doesn’t know whether the electric motor engine Peter developed will be installed in a Porsche, but based on the current situation, he can be confident that it will be.

Peter is a man who will soon emerge as a leader in this field. Emforce also expands significantly.

He was a person comparable to Kevin Brun, the founder of MegaRobotics, whom I met a while ago.

So there is no reason to hesitate to invest.

“You want to invest 100 million euros?”

“Yes, we plan to use that money to develop the world’s highest-performance electric motor.”

It is not an absolutely sufficient amount of money, as it is a powertrain that combines not only a simple electric motor but also a transmission.

“This investment will be executed by the Korea Asset Management Consortium. Have you heard about it?”

“no.”

A bewildered Bauer quickly explained.

“I told you on the phone, it’s a huge private equity fund that just acquired Credit Suisse.”

“I don’t really like Credit Suisse.”

In some ways, it was a remark befitting of a developer who does not know the ways of the world.

The reason Peter hates Credit Suisse is because when he applied for investment funds this time, Credit Suisse went bankrupt, which greatly disrupted his schedule.

In fact, for diehard developers like Peter, the global financial crisis, bank failures, and financial crises were a story from another country.

Nam Yun-myeong liked this Peter, who could be said to be naive on the one hand.

Many venture CEOs lose their original intentions when they worry about money or when they taste money. The end is vain.

At least that wouldn’t happen to Peter. Of course, if Nam Woon Myung supports him from behind so that he doesn’t have to worry about money.

Nam Woon-myeong asked Yun Se-bin and Shin Cheol-ho.

“how is it?”

“There are no particular problems on paper.”

Of course, it’s not something that needs to be checked urgently like now, but I checked the financial status while I was here.

“You’re investing 100 million euros?”

“is it so.”

Yoon Se-bin readily agreed.

Shin Chul-ho also expressed his agreement with excitement as it was his first time investing in an automobile company.

“If Empos was in Korea, I would buy an electric car and ask them to just replace the engine.”

That wish is unlikely to come true until a car with an Emforce engine comes out.

From then on, the work progressed at a rapid pace.

The most excited person was not Peter Annen, but Bauer.

This is because the valuation of the shares initially invested by Birkenstock Capital has increased significantly.

After Yun Se-bin finished signing, Nam Un-myeong spoke to Bauer.

“If you have any additional investment needs, please contact us. And if you ever sell your shares in Empos, please contact us.”

“Of course, but I don’t have anything to sell yet.”

With additional investment from the private equity fund that acquired Credit Suisse, Emforce’s reputation will certainly rise. Naturally, its value will also rise accordingly.

* * *

While eating dinner, Shin Cheol-ho asked.

“Hey, I used to love touring the Porsche factory.”

He seemed quite upset because he had stopped by a venture that was nothing more than a hole-in-the-wall shop selling automobile motors, not Porsches.

“Thanks to you, I even got to drive a Porsche on the Autobahn.”

“That’s true. Porsche is as good as I’ve heard.”

This guy thinks all supercars are good.

While Shin Cheol-ho was chatting with Yoon Se-bin, he asked.

“Is the investment complete?”

“No, if I had only intended to invest in Empos, I wouldn’t have brought CEO Yoon with me. I would have just sent him to the Alps.”

I wonder if the other employees are having fun in the Alps right now? I don’t think they’re running around the meadows like Heidi.

I was a little worried about Nora and Dan Kirk, but I quickly put the thought out of my mind. I had to trust Kirk, he had assured me several times.

“Is there still any left?”

“I will visit Porsche tomorrow.”

“Wow! Porsche! Really?”

Shin Cheol-ho’s mouth opened wide.

Yoon Se-bin’s brow furrowed slightly.

“Porsche is a family business… so investing is not easy.”

“I know. But if we give up the idea of ​​running Porsche ourselves, there are many ways to invest.”

Porsche is an unusual company in many ways.

Porsche’s founder was the genius engineer Ferdinand Porsche. The company was founded in 1931 and made history in 1948 by creating the Porsche 286, based on the Volkswagen Beetle.

In other words, the name Porsche originated from the Porsche family.

And about ten years ago, a fierce battle took place between the founder’s grandson, Wolfgang Porsche, and his grandson, Ferdinand Piëch. It was a bloody battle between Porsche and Volkswagen, which were essentially relatives, over management rights.

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