AutoBeta(AutoBeta.net)07/01 Report--

According to media reports, the new car builder Weimar Motor will seek a new round of financing in the near future. Shen Hui, CEO of Weimar, said in an interview that the company is seeking financing from global investors and could raise as much as $1 billion (about 6.9 billion yuan). Weimar also said that the financing is mainly overseas financing, the funds will be used for technology research and development, brand promotion, user services and channel development.

In March this year, Weimar completed a 3 billion yuan C-round financing, led by Baidu Group, mainly for user experience and technology research and development. At present, the cumulative financing amount of Weima Automobile has been nearly 23 billion yuan.

The financing of new car-building forces to "renew their lives" has become the only way for development. Xiaopeng Motor recently plans to raise 4.2 billion yuan to quench its thirst for funds, with a financing target of 12 billion yuan this year. Ideal Motor also plans to raise $300 million to $500 million this year, and the proceeds will be mainly used for the mass production of the ideal ONE and related research and development. Both Xiaopeng Motor and ideal Motor have plans to go public overseas to raise funds.

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