AutoBeta(AutoBeta.net)12/27 Report--

According to Tianyan check, Baiteng Motor, one of the new car building forces, has become a partner with Japan's Marubeni Co., Ltd., Marubeni Co., Ltd. is expected to invest millions of US dollars in Baiteng. If the cooperation goes well, Marubeni Co., Ltd. will consider further investment.

It is understood that since its establishment in 2017, Baiteng Motor has carried out four rounds of financing, with a total amount of more than 1.2 billion US dollars, including FAW Group, Foxconn, Ningde Times and so on.

Baiteng CEO Dai Lei said during the Guangzhou auto show that the $500m C-round financing is nearing completion and has now met the demand for mass production. After the completion of round C financing, Baiteng Motor will immediately launch D-round financing, which Dai Lei said will be used to support the research and development of the second and third models.

As a member of the new car-building force, its first production model, M-Byte, has been unveiled in November. It is understood that the mass production version of Baiteng M-Byte provides two kinds of power systems, namely single-motor rear-drive version and front and rear double-motor rear-drive version, with a maximum power of 272 horsepower and 408 horsepower, and a comprehensive battery life position of 430km and 550km.

Baiteng M-Byte plans to start mass production in mid-2020 and then deliver it to Chinese consumers. It is expected to start accepting bookings from Europe and North America in 2020 and officially enter the European and American markets in 2021.

According to data, Marubeni Co., Ltd. of Japan, founded in 1858, is one of the five major comprehensive trading houses in Japan, headquartered in Tokyo and Osaka. Business covers food, metals, mineral resources, energy, infrastructure, power, finance, real estate and trade. Marubeni Co., Ltd. has partnered with Baiteng Motors to recycle waste batteries from Baiteng cars and provide energy storage devices for families to expect other applications.

Baiteng Motor was founded on June 13, 2017 by Dai Lei, former general manager of Infiniti China, and Bi Fukang, former vice president of BMW Group Engineering. As one of the new car-building forces, Baiteng obtained the production qualification of new energy vehicles through the acquisition of FAW Huali. In October this year, the Baiteng Nanjing plant began trial production, with an initial planned annual production capacity of 150000 vehicles. Biden CEO Dai Lei has said that Baiteng's break-even point is 100000 vehicles and is expected to break even by 2022.

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