Trying to enter the auto industry, Meituan to invest in LIXIANG?

On June 17, there were media reports that MEITUAN DIANPING (03690) founder Wang Xing intends to invest 300 million US dollars in China's new energy vehicle manufacturer LIXIANG AUTO: MEITUAN DIANPING's Dragon Ball Capital will contribute 15 million US dollars, Wang Xing will invest 285 million Dollar. After the completion of the financing, LIXIANG valuation is close to 2.9 billion US dollars. So far, LIXIANG AUTO has no comment.

It is understood that LIXIANG plans to raise more than 500 million US dollars this round, LIXIANG AUTO founder Li Xiang invested nearly 100 million US dollars. At the same time, LIXIANG's old investors Jingwei, Shougang Fund, BLUE RUN VENTURES will follow up. If the financing is successful, LIXIANG is valued at nearly $2.9 billion.

At present, Wang Xing and Li Xiang’s investment letter of intent have not yet been signed, but the two sides have reached an investment intention. At present, Li Xiang personally holds about 30% of the shares and is the largest shareholder. If the investment is successful, Wang Xing's shares will be close to 10%.

MEITUAN entered the industry of transportation

In the past two years, MEITUAN has been working hard in the field of transportation. As early as February 2017, MEITUAN App took the taxi entrance in Nanjing.. In December of the same year, MEITUAN TAXI was officially launched in Shanghai.

In April 2018, MOBIKE was acquired by MEITUAN in equity and cash. After the transaction is completed, MOBIKE will maintain its independence from brand and operation. At the same time, the MOBIKE shared car was officially launched.