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The largest single-round financing amount in the history of the new power of car building was born. Weima completed 10 billion D-round financing.
Sep 22,2020 09:53CST
translation
The content below was translated by Tencent automatically for reference.

SMM: September 22nd, Weimar announced the completion of a total of 10 billion yuan of D-round financing, which is also the largest single-round financing in the history of the new power of car-building. This round of financing is jointly led by Shanghai State-owned Investment platform and SAIC Group. Baidu and SIG Asia Investments (SIG) continue to participate in this round of financing. Other participants include Hubei Yangtze River Industrial Fund, Suzhou Kunshan Industrial Fund, Hunan Hengyang State-owned Investment platform, Anhui Hefei Industrial Fund, State Investment Chuangyi Industrial Fund, Guangzhou Financial holding Group and other state-owned industry investors. As well as Xin Xin, Ziguang, Hongta Group, Agile, Pacific Century and other powerful investment institutions, the funds raised will mainly be used for intelligent technology research and development, brand building, digital marketing and channel development.

Shen Hui, founder, chairman and CEO of Weima Automobile, said: "the completion of D-round financing reflects investors' optimism about the prospects of the intelligent new energy vehicle industry, and high recognition of Weima Automobile's scientific and technological innovation enterprise positioning, long-term development strategy, excellent core team, leading industry cutting-edge technology, and the core value concept of" technology inclusive, detonating the mainstream ". Those who participate in this round of financing are all powerful people in various fields, and they are all value investors who are willing to develop together with Weima for a long time. "

"National team" has the most yuan in the investment matrix industry.

Investors in this round of financing include Shanghai State-owned Investment platform and SAIC Group, Baidu and SIG Asia Investments (SIG), which continue to participate, as well as state-owned industry investors such as Hubei Yangtze River Industrial Fund, Suzhou Kunshan Industrial Fund, Hunan Hengyang State-owned Investment platform, Anhui Hefei Industrial Fund, State Investment Fund, Guangzhou Financial holding Group, etc. And Xinxin, Ziguang, Hongta Group, Agile, Pacific Century and other powerful investment institutions. Minmetals Securities and Light Source Capital act as financial advisers for this round of financing.

Up to now, Weimar has the most diversified investor matrix in the industry, including industrial investors, Internet giants, fund "national team", top VC/PE venture capital funds and other domestic and foreign investors. These powerful investors who support the development of the real economy and science and technology start-up enterprises not only inject capital "living water" into the development of Weima Motor, but also actively cooperate with Weima Automobile in strategic cooperation to build a new ecology of industrial investment and enable Weima to quickly mass-produce forward-looking technologies such as 5G technology, self-driving and three-power system, bringing a new travel experience to the majority of users.

Add code intelligent research and development to accelerate channel expansion

With the completion of this round of financing, Weimar will strengthen its investment in intelligent technology research and development, brand building, digital marketing and channel expansion.

In the next 3 to 5 years, Weima Automobile will bring together 3000 top engineers around the world to quickly apply forward-looking technology to mass-produced products and services at mainstream prices, creating a future intelligent travel terminal that meets the needs of Chinese users and the actual road conditions in China, and has the (Everything Connected) capability of the Internet of everything, forming an intelligent science and technology ecosystem with the integration of "human-vehicle-environment". Provide users with a new way of intelligent travel that is safer, more efficient, more convenient and more fun.

In terms of brand building and channel expansion, Weima Automobile will accelerate the "Qiancheng Qiandian" project, with lighter, diversified and large-scale user contact construction, so that the brand can directly reach the user end. Bring safe and reliable, stable quality, excellent experience, reasonable cost products and services to every user's side, enabling the brand up.

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Weimar Automobile
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