AutoBeta(AutoBeta.net)03/08 Report--

After announcing its 2018 revenue, the important news is that it has cancelled the plan to build its own plant in Jiading, Shanghai, which was signed in 2017, which means that it will continue to follow the contract manufacturing mode, while it is currently working with Jianghuai to produce the ES8.

In addition to Jianghuai, NIO also has a lot of cooperation with other car companies, including Guangqi NIO established a joint venture new energy vehicle company at the end of 2017. Recently, Chairman GAC GROUP revealed that the cooperation with Xilai Automobile will include common car production.

There has been widespread speculation that GAC may be the second contract manufacturer, but quickly responded to the response from relevant people, saying that it may be an expression problem that the joint venture will not produce Xilai cars and will have separate brands and channels.

On December 27th, GAC GROUP issued a resolution announcement of the 65th meeting of the fourth session of the Board of Directors, deliberating and passing the "Bill on the Establishment of Guangzhou Automobile Xilai New Energy vehicle Co., Ltd.". It will jointly fund the establishment of Guangzhou Automobile Ulay New Energy Automobile Co., Ltd., with a total planned investment of 1.28 billion yuan and registered capital of 500 million yuan.

According to the contents of the announcement, the newly established company will devote itself to the research, development, sales and service of intelligent network-connected new energy vehicles. The total planned investment is 1.28 billion yuan, the registered capital is 500 million yuan, and the initial registered capital is 200 million yuan, of which GAC GROUP contributes 45 million yuan according to 22.5% share ratio, and GAC NE Automobile Co., Ltd. contributes 45 million yuan according to 22.5% share ratio, the source of funds is the overall planning of the company.

Previously, the 2018 results released by Xilai showed that the total revenue in 2018 was 4.9512 billion yuan, and the net loss was 9.639 billion yuan. In terms of sales volume, Xilai delivered a total of 11348 ES8 vehicles throughout the year. Spurred by the announcement of the results and news such as the cancellation of the self-built factory, the share price of NIO fell sharply in the past two days. As of March 7, US Eastern time, the share price of NIO fell to US $7.09, down 11.49% from the previous trading day and 30.22% in two days.

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