AutoBeta(AutoBeta.net)06/08 Report--

Check information shows that Changan Lulai New Energy Automobile Technology Co., Ltd. (hereinafter referred to as Changan Lulai) has undergone industrial and commercial changes. Registered capital increased by 90 million yuan, from 98 million yuan to 188 million yuan, an increase of 92%.

According to public information, Changan Lai was established on July 10, 2018 as a joint venture between Shanghai Ulai Automobile Co., Ltd. and Chongqing Changan Automobile Co., Ltd., each holding 50% of the shares. The legal representative of Changan NIO is Yang Fang, and the current chairman is Tan Benhong, executive vice president of Changan Automobile. The company's business scope involves the design and development of new energy vehicles and spare parts, automobile sales and related after-sales service.

For a long time, Changan Ulai has been regarded by the industry as the landing entity of Changan high-end brand. It has been two years since Changan Automobile announced in April 2018 that it would build a high-end brand, but the veil of this high-end brand has not been lifted. For comparison, the domestic brands Geely Lecker, Great Wall WEY and Chery Xingdu have already been in operation, and it has not taken more than a year from the launch of new brands to the launch of new products.

The slow motion of Changan Automobile has aroused many guesses in the industry. In April last year, industry insiders speculated that Changan Automobile's performance had been hit in the past two years, and Changan Automobile had to give up the development of high-end brands due to funds. Some industry insiders speculate that the high-end AB brand will be built by Changan Automobile and partners, believing that Changan Automobile will use PSA Group's DS high-end resources to build its own high-end brand.

In August 2019, Yang Dayong, general manager of the public relations department of Changan Automobile Brand, who is responsible for the preparatory work of Changan high-end brand, suddenly said that Changan high-end brand will be responsible for by Changan Ulai team, and Changan Ulai will become the main body of the plan. According to the cooperation agreement between Changan and NIO, the two sides will invest 5 billion yuan in Nanjing Jiangning Development Zone and put into production a total of three models, the first of which will be put into production in 2020.

Changan did not respond to whether this capital increase means that there will be new progress for high-end brands, or whether it is a further deepening of bilateral cooperation.

According to the latest figures, Changan Automobile sold 174000 vehicles in May, up 54.3% from a year earlier. The cumulative sales from January to May were 636600, down 6.29% from a year earlier.

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