The source also revealed that the funding condition of at least one of them was to require Wei to replace Li Bin.
Editor’s note: This article is from WeChat public account “ autocarweekly ” (ID: autocarweekly) author: karakush. Original title “ Exclusive: Geely, GAC, SAIC are bidding for Weilai ”
A source told us yesterday.
The source also revealed that the funding condition of at least one of them required Wei to replace Li Bin.
Happy New Year
In 2020, only 15 days have passed. Whoever wants to make Weilai’s scorching moneyless problem can suddenly make such a major turnaround.
Yesterday, the media “Explore Auto Market” broke out first. GAC Group is raising funds and plans to invest in Weilai Automobile. The investment scale involves US $ 1 billion. It is expected to solve the latter’s required funds for 2020 operation.
We have verified with Li Bin about the above report. He said that there would be no comment on financing matters, and everything was subject to the announcement. “(Report) A lot of things are different from the actual situation. We must be promoting all kinds of possible financing. Otherwise, we will not be able to survive, but the money will only be counted. The catching the wind is a harm to us.”
That being said, the capital market immediately confirmed to us with a swift response that the entity is big and good:
Before the market closed on Wednesday, Weilai’s stock price rose 10.64%, jumped away from $ 4.19, and continued to ferment. It finally closed at $ 4.29, an increase of 13.64%.
It can be said that Wall Street is regaining confidence in Weilai. If you compare the K-line 6 months ago, you will notice a change in attitude.
An iconic node was on May 28 last year. Weilai announced that it had signed a framework agreement with Yizhuang Guotou, the latter will inject 10 billion yuan; the same day, Weilai’s ES6 officially went offline.
However, the combination of double positives is difficult to offset the poor Q1 earnings report issued at the same time, and the final boost to the stock price is very short.
According to the report at the time, Weilai rose by only 3.63% in the day, and closed just barely at the $ 4 line, and entered the next day.