Weilai issued nearly 13 billion RMB ADS. Many auto companies are scrambling to start financing to replenish blood.

With the gradual expansion of the sales of new energy vehicle companies, known as "Wei Xiaoli" in the industry, the market share of new energy vehicle companies in China has also gradually expanded, and some new energy vehicles have been exported overseas, and even entered Norway, the capital of electric vehicles. Xilai Automobile announced that it had issued an additional ADS to raise 2 billion US dollars (about 12.7 billion yuan), while a number of new energy car companies began to raise funds to replenish blood.

According to a notice issued by Xilai Automobile, the company has completed the issuance of American depositary shares ((ADS)) on the market, each equivalent to a Class A common share of the company. Through the sale on the market, the cumulative sale of 53 million shares of ADS, raised a total of $2 billion. The company currently plans to use the net proceeds sold in the market to further strengthen its balance sheet and for general corporate purposes.

For this financing, industry insiders pointed out that Lai will use this to expand production capacity, lack of capacity has limited the rapid development of Lai Automobile. According to the delivery of new energy car companies from June to October in 2021, last month's No. 1 and sales of more than 10, 000 cars fell sharply, delivering only 3667 vehicles.

With regard to the sharp drop in sales in October, Weilai explained, "in October, Jianghuai Wei came to Hefei to complete the phased transformation of the production line of the advanced manufacturing base, and since late October, production has gradually resumed."

At the same time, in a conference call with the third quarterly report, Ulay said that new orders continued to grow, reaching an all-time high in October, and that current deliveries were mainly affected by supply fluctuations, with total deliveries expected to reach 23500 to 25500 vehicles in the fourth quarter of 2021. In addition, the development of its NAD software and hardware system is progressing smoothly. The development of two other new models based on the NT2.0 platform is also on schedule and is expected to be delivered to users in the second half of next year.

Citic Construction Investment Securities recently reported that the revenue growth of Lulai will slow down, and it is expected that the new model ET7 will be delivered in the first quarter of next year, giving the company sufficient new power.

In addition to the nearly 13 billion RMB financing from Weilai, a number of new energy car companies have opened financing models. BYD (002594) also announced on the same day that it would increase its wholly-owned subsidiary by US $1.7 billion. Zero running car has also recently increased its registered capital to about 1.012 billion yuan. Nashi Motor is also rumored to be in the process of financing a round of Pre IPO, at least $800m, with a maximum of $1 billion.