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On October 11th, a letter about the promotion and change of global senior management in Lulai was circulated on the Internet, referring to the promotion of Shen Feng, Zhou Xin and Ganesh V.iyer to executive vice presidents, reporting directly to Li Bin. Huang Chendong and Zhong Wanli were promoted to senior vice presidents and also reported to Li Bin. In addition, Danilo Teobaldi was promoted to vice president.

Xilai responded that the situation was true and that all but one foreign executive had been promoted normally.

This year, Xilai Motor is facing unprecedented pressure. Personnel changes, company layoffs, declining performance, car spontaneous combustion and other signs show that the situation of this car company is extremely serious.

It is worth noting that this is the first high-level change since the release of the second-quarter results. After the second-quarter results, the share price of Lulai Motor has fallen all the way, and even faces the risk of "delisting of US stocks of US $1." fortunately, under all kinds of negative news, the delivery situation of Xilai Automobile picked up slightly in the third quarter.

On October 8th, the company announced its third-quarter sales. According to the data, it delivered a total of 4799 vehicles in the third quarter, which exceeded NIO's expectations.

Of this total, 2019 vehicles were delivered in September, including 1726 ES6 and 293 ES8;. A total of 4799 vehicles were delivered in the third quarter, including 4196 ES6 and 603 ES8.

As of September, the cumulative delivery volume of ES6 and ES8 reached 23689 vehicles, of which 12341 vehicles were delivered in 2019. According to the annual sales target of 40, 000 vehicles, the completion rate reached 30.85%, leaving only the last quarter to the end of the year. For the current situation, it is even more difficult to complete the delivery volume.

After the delivery results were issued in September, Lulai's share price rebounded slightly, and on the 8th, the US stock closed up 10% against the trend, closing at 1.70 US dollars per share. As of today, Xilai shares closed at $1.56 per share. It is understood that Lulai Motor has fallen by 43% in the past month and 51% in the past three months. After many falls, its share price is close to the delisting red line of US stocks of US $1. Fortunately, the stock price picked up somewhat after the delivery volume was issued in the third quarter.

"delivery in the third quarter exceeded the upper limit of our guidance, as ES6 production and delivery continued to increase after its first release in June," Li said. On Aug. 24, Xilai announced that the first owners of ES8 and ES6 would enjoy a lifetime free change of electricity, which also attracted some consumers.

Although the delivery volume of Xilai Motor exceeded expectations in the third quarter, it does face financial problems and the situation can not be ignored.

Li Bin has signed a $200m (1.43 billion yuan) convertible bond subscription agreement with a Tencent subsidiary, and the bond sale is expected to be completed by the end of September, the company announced on Sept. 8. As the two largest shareholders of the company, Tencent and Li Bin are full of confidence in the future development of NIO, while other financing is also moving forward normally.

In addition to promoting financing, the company also cut the number of employees at the end of September, reducing the number of employees from more than 9000 to more than 7000, and will continue to reduce the number of employees in the third quarter and before the end of the year. Li Bin said that it will help to improve operational efficiency, lower costs, and optimize resources and organizational structure.

This time, it has been exposed that there has been a change in high-level personnel, which is also a measure that is lower than the "cold winter" at the moment.

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