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After Wei came to China to settle in Hefei, Li Bin denied the rumors that Geely had bought a stake.

2024-11-05 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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Recently, some media reported that Geely plans to invest US $300 million to buy shares, and pointed out that according to the calculation of the convertible bonds of US $3.07 just carried out in the primary market, Geely will account for less than 10% of the shares of Lulai Motors after this round of investment, and after the shares are diluted by existing shareholders, Geely is expected to become the third largest shareholder of Xilai Automobile.

In response to Geely's stake in NIO, Li Bin responded on the same day that "I don't know where the rumor came from and will not comment on it", but he said that on the other hand, it also means that more and more investors see the value of Lulai Motor.

It is worth noting that on the day when Li Bin denied that Geely had taken a stake in NIO, NIO had just completed an important task.

On February 25, Xilai signed a cooperation framework agreement with Hefei. According to the agreement, the China headquarters project of Xilai Automobile includes the establishment of China headquarters in Hefei, the establishment of research and development, sales and production bases, and the establishment of a Chinese headquarters operation system centered on Hefei. The project plans to raise 14.5 billion yuan for the company's research and development, market system establishment and operation; at the same time, the headquarters and R & D base (1 billion yuan) and the second production base (1.5 billion yuan) are planned and built.

While announcing the signing of the framework agreement with Hefei on February 25th, NIO announced that it would start mass production of EC6 models at the Jianghuai NIO factory. EC6 is scheduled to announce the price and configuration of EC6, the third model of Lulai Motors, in July 2020 and begin delivery in September.

There is a deep relationship between Lulai Motor and Hefei. In 2016, NIO reached a strategic cooperation agreement with Jianghuai Motors and spent 2 billion yuan to build a Jianghuai NIO factory in the Jianghuai factory with an annual production capacity of 50, 000 vehicles. ES6 and ES8 were born here.

Li Bin believes that the good operation of Jianghuai NIO advanced manufacturing base has laid the foundation for the development of NIO in Hefei. NIO has carried out an in-depth industrial layout in Hefei. The establishment of its Chinese headquarters in Hefei is conducive to the improvement of operational efficiency and long-term stable development.

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Entering 2020, NIO ushered in a great "money scene". On February 6 and February 14, Ulai announced the completion of US $100 million in convertible bond financing and the cumulative completion of US $200 million in convertible bond financing, invested by two non-affiliated Asian investment funds and Asian investment funds respectively.

Lulai Motor announced that it has signed a cooperation framework agreement with Hefei, and the China headquarters project of Lulai Automobile will be located in Hefei. Affected by the news, the share price of Lulai Motor rose sharply. As of the 25th close of US stock trading, the share price of Lulai Motor closed at US $4.4, up 13.4%.

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Xilai Motor will release its fourth quarter results for 2019 on March 3. According to its third-quarter results, revenue in the third quarter was 1.8368 billion yuan, up 25.0% from a year earlier, while the net loss was 2.521 billion yuan, down 10.3% from a year earlier. As of September 30, 2019, the total amount of cash, cash equivalents, restricted-use cash and short-term investment held by Lulai was 1.9607 billion yuan. Lulai has said that the current cash flow has been difficult to support its operation in the next 12 months.

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