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Car Hejia, which plans to officially launch its first production car in the fourth quarter of this year, is carrying out a new round of financing, and it has been reported that Wang Xing, founder of Meituan Dianping, will participate in the investment of US $300m.

According to media reports, Wang Xing, founder of Meituan Dianping, intends to invest 300 million US dollars in his company's ideal car, of which 35 million of Wang Xing's personal investment of 285 million and 285 million will be used to buy old shares. After completing the financing, the ideal valuation is close to $2.9 billion.

In addition, Li Xiang currently holds about 30% of the shares, making him the largest shareholder of Auto and Home ideal Motors. If the investment is successful, Wang Xing's shares will be close to 10%.

At the end of April, Reuters quoted two people familiar with the matter as saying that Chinese electric carmaker Automobile Hejia is conducting a new round of financing, seeking an investment of $300m to $500m and plans to list overseas next year. People familiar with the matter also said that the proceeds of the financing will mainly be used to finance the mass production of its first electric car, the ideal Smart ONE, as well as related research and development.

The ideal ONE, which sells for 328000 yuan after subsidy, is positioned as a medium and large electric SUV without mileage anxiety, with a comprehensive range of more than 700km, an urban range of more than 1000 km and a mileage of 180km in a pure electric mode that does not rely on range enhancers.

Che Hejia was founded in July 2015. it completed 780 million yuan A round financing in 2016 and announced the construction of the factory in 2017. Its manufacturing base is located in Wujin Technology Development Zone, Changzhou City, Jiangsu Province. The factory has a designed production capacity of 300000 vehicles and covers a total area of 1 million square meters.

Li Xiang, founder of che Hejia, once said: the financing window for the new power of car building will not exceed one year, a large number of enterprises will be eliminated within a year, and 90% of investors will suffer heavy losses. When it comes to whether the car and home have an IPO plan, Li Xiang also said that IPO is a natural thing.

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