Financing of Chinese NEV brands in first half year, over 22 billion

According to statistics, the total financing of the Chinese NEV brand in the first half of this year exceeded 22 billion yuan. In addition, we also inquired about the financing situation in the first half of 2018, the total amount of which exceeded RMB 12.2 billion. And let’s have a total look at it.

NIO

Financing in the first half of the year: 10 billion

Uses: R&D and user service construction

On May 26, NIO announced that it had signed a framework agreement with Beijing E-Town International Investment Development Co., Ltd. According to the agreement between NIO and E-Town Capital, NIO will set up a new company “NIO China” in the Beijing Economic and Technological Development Zone and provide specific business and assets to “NIO China”. E-Town Capital will invest RMB 10 billion in cash to acquire the non-controlling shareholders’ equity of NIO China. In addition, E-Town Capital will assist in the construction of the NIO China or introduce “a third party” to jointly build NIO China's advanced manufacturing base and produce second-generation platform models.

Weltmeister Motor

Financing in the first half of the year: 3 billion yuan

Uses: Improve user experience and technology development

On March 8, Weltmeister Motor received a $3 billion Series C financing from Baidu, which will be used to enhance user experience and technology development. This round of financing is led by Baidu Group, Taihang Industry Fund, Linear Venture and other investments, financing will be mainly used for user experience and technology research and development. As of March this year, Weltmeister Motor's accumulated financing amounted to nearly 23 billion yuan.

It is worth mentioning that Weltmeister Motor has already planned to start the D round of financing, with a target of up to $1 billion. The financing will be based on overseas financing, and the financing purposes are technology research and development, brand promotion, user services and channel expansion.

The EX5 is Weltmeister's first pure electric car and has been delivered to customers since last September. According to company data, in the first five months of this year, the total delivery number of Weltmeister EX5 was 6,437. However, this is still far from the target of 100,000 vehicles.

ENOVATE MOTORS

Financing in the first half of the year: over 2 billion yuan

Uses: intelligent manufacturing base construction, brand building promotion, sales channel construction, model development

Before this year's Shanghai International Auto Show, ENOVATE MOTORS officially announced the completion of a total of more than 2 billion yuan in Series A financing. This round of financing is led by a large listed company, and the financing will be used for the construction of ENOVATE intelligent manufacturing base, ENOVATE brand construction promotion, sales channel construction, and ENOVATE models development and trial production.

At that time, ENOVATE MOTORS said that the company's strategic development and product promotion status is good, and the business layout is progressing steadily. As of now, ENOVATE has raised more than RMB 6.5 billion in financing, and will launch the next round of financing according to the financing plan in the near future.

HOZON AUTO 

Financing in the first half of the year: 3 billion yuan 

Uses: Automotive product and technology research and development

During this year's Shanghai Auto Show, Zhang Yong, President of HOZON AUTO, officially announced that the company has completed a B round of financing of 3 billion yuan. Most of the funds of the B round of financing will be used for future automotive product and technology research and development, and for accelerating the implementation of innovative technologies in smart cockpits, intelligence driving application. After the successful financing, HOZON AUTO's financing has exceeded RMB 7 billion.

During this year's Shanghai Auto Show, HOZON AUTO was unveiled with three new models, the second production car HOZON U, the new concept car Eureka 02 and the NETO N01 2020. Among them, the new intelligent pure electric SUV - HOZON U also officially began the pre-sale at this auto show.

At present, HOZON AUTO's strategic development and product promotion are proceeding well, and the channel layout and business ecological layout are also actively and steadily advanced. It is worth mentioning that HOZON AUTO has also set up a software development team for intelligent driving algorithms in Silicon Valley, USA. In the future, HOZON plans to further expand its partners in Europe. 

Faraday Future

First half year’s financing: $225 million

Use: Prepare for follow-up financing

On April 30, Faraday Future officially stated that it had received a $225 million credit and trust financing, led by American commercial bank Birch Lake. The financing also includes a $150 million supplier trust, and the supplier trust plan will give greater confidence to FF's major suppliers.

In addition to progress in financing, FF also said that the testing of the FF 91 pre-production car is continuing, the engineering team has made steady progress, and several pre-production cars are undergoing cloud connectivity, software applications and other verification tests. FF is advancing the release of FF 91 and mass production delivery, and continues to develop the FF 81, a mass-produced luxury model that is scheduled to be launched in 2021.

SITECH DEV

Financing in the first half of the year: completing the B round of financing

Uses: Accelerate new product development, channel construction and innovative business model development

BORDRIN MOTORS

Financing in the first half of the year: 2.5 billion yuan

Uses: product development and marketing investment

On June 3, BORDRIN MOTORS and SILVER SADDLE EQUITY formally signed an investment cooperation agreement. The funds raised in this round of financing will be mainly used for product development and marketing investment of BORDRIN MOTORS.