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After the cooperation with Beijing Yizhuang State Investment Group received 10 billion yuan of investment, NIO continued to contact local governments to obtain new cooperation and investment. According to media reports, NIO is negotiating a new round of financing of more than 5 billion yuan, with the Zhejiang Huzhou Municipal Government as the partner.

Sources show that NIO is negotiating a capital cooperation of more than 5 billion yuan with Wuxing District, Huzhou City, Zhejiang Province, corresponding to the fact that a factory with an annual production capacity of 200000 units will be located in Wuxing District.

In response to the news, Li Bin, chairman of Xilai, responded that it was indeed in contact with many local governments, but there was not much information to disclose at present.

In recent years, Zhejiang Huzhou City and Wuxing District of Huzhou have actively introduced car manufacturing enterprises. In August 2016, the Letv Super Automobile Factory project was settled in Deqing County, Huzhou City. Letv spent 419 million yuan to win two pieces of land in Mogan Mountain High-tech Zone in Deqing City. The car-building New Power Ranger car factory project is located in Wuxing District, Huzhou City, with an annual production capacity of 200000 vehicles, and the products are scheduled to be listed in 2019.

At present, Xilai Automobile cooperates with Jianghuai Automobile and is produced by Jianghuai Automobile. Jianghuai NIO factory is located in Shushan District, Hefei City, with an annual production capacity of 100000 units, and the production line can also be upgraded to increase production capacity.

In May this year, NIO Motor received an investment of 10 billion yuan from Yizhuang in Beijing to set up "NIO China" to inject specific businesses and assets. NIO will build a new factory in the Beijing Economic and technological Development Zone to produce its second-generation platform models.

Now that NIO continues to seek cooperation with local governments to finalize factory expansion and obtain corresponding financial support, can Lulai car sales hold up?

According to the data, a total of 4799 vehicles were delivered in the third quarter of 2019, including 4196 ES6603 vehicles and 12341 ES8; vehicles delivered in the first three quarters of 2019. "We certainly need more funds to support technology research and development, and we are very confident that we will get more investor support," Xilai said publicly in a conference call on its third quarter results.

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