AutoBeta(AutoBeta.net)05/01 Report--

The first batch of retail centers of ideal Automobile opened on May 1, which are distributed in Beijing, Shanghai, Guangzhou, Shenzhen and Tianjin. They are directly operated by ideal Automobile to provide test driving, delivery and other services. Officials say the number of ideal retail centers will expand to 14 by the end of the year.

The opening of the ideal retail center comes amid news from Reuters that the parent company of the ideal brand, car and Home, is seeking financing of $300 million to $500 million and has plans to list overseas next year.

Reuters quoted people familiar with the matter as saying that newly built cars and families are seeking a new round of financing of $300 million to $500 million. Che Hejia, which is valued at at least $2.5 billion before the new round of financing is completed, has hired Goldman Sachs for advice.

The round of financing, which will be completed in June this year, will mainly be used for mass production and related research and development of the ideal ONE owned by cars and families, and the company will IPO overseas next year, according to people familiar with the matter.

Ideal ONE was officially launched on April 10, with a subsidised price of 328000 yuan for only one equipped model, and the new car will be delivered in the fourth quarter with a lifetime warranty for the first owner.

Li Xiang, founder and CEO of che Hejia, said in an interview in April: the financing window for the new power of car building will not exceed one year, and a large number of enterprises will be eliminated within a year, and 90% of investors will lose a lot of money.

When it comes to whether the car and home have an IPO plan, Li wants to say that IPO is a natural thing.

Che Hejia has completed angel round, A round financing and B round financing, and has received a total of 5.755 billion yuan in financing.

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