This round of financing is jointly led by Shanghai state owned assets investment platform and SAIC Group. Baidu and Haina Asia venture capital fund (SIG) continue to participate in this round of financing. Other investors include Hubei Changjiang industrial fund, Suzhou Kunshan Industrial Fund, Hunan Hengyang state-owned investment platform, Anhui Hefei Industrial Fund, SDIC venture capital industry fund, Guangzhou financial holding group and other state-owned investors Industrial investors, as well as Xinxin, Ziguang, Hongta Group, Yajule, Yingke and other investment institutions. < p > < p > in 2019, Weima plans to raise $1 billion in round D, and the amount of financing this century far exceeds the financing plan. Weima plans to use the round D financing funds for intelligent technology research and development, including senior talent recruitment and technology upgrading, strengthening the research and development of intelligent cockpit, digital architecture, platform based three electric system, automatic driving and other technical fields, as well as channel and brand construction. At the same time, according to the sources close to Weima automobile, the round D financing is likely to be the last round of financing before Weima automobile is listed, and Weima automobile will be listed on the science and technology innovation board in 2021.

in 2020, novel coronavirus pneumonia in China was stable, and the auto industry was again welcomed by the new policy. New energy vehicles also benefited. With the support of the policy, the boom of new energy vehicles has recovered, and the sales of new energy vehicles are growing faster than fuel vehicles. < / P > < p > according to the data of CAAC, the sales volume of new energy vehicles in China hit a record high in August. The production and sales of new energy vehicles in the month exceeded 100000, reaching 106000 and 109000 respectively, with a year-on-year increase of 17.7% and 25.8%. According to the official and industry data, Weima’s sales volume reached 2057 in the past August, up 143% year-on-year. In the first half of 2020, Weima automobile has sold 7686 vehicles, ranking behind Weilai automobile and ideal automobile. < / P > < p > looking forward, if the competition among the new car manufacturing forces including Weima automobile focuses on the speed of mass production delivery, then, with the listing of Weilai, ideality and Xiaopeng, Weima has completed the last round of financing before listing, and the competition among the four new automobile manufacturing forces has begun to turn to technical competition. Next, it will enter a new stage of comprehensive strength competition such as technology, product experience and market reputation. < p > < p > previously, Shen Hui, founder, chairman and CEO of Weima Automobile Co., Ltd., disclosed that in the next three to five years, Weima will invest 20 billion yuan and gather 3000 engineers to build a smart car with the ability to connect everything. In order to accelerate the landing, mass production and experience of 5g and L4 technology capabilities on intelligent vehicles, Weima also released a new technology strategy composed of smart cockpit, digital architecture, platform based three electric system and core skills of automatic driving. < / P > < p > at the baidu Conference on September 15, Weima automobile officially released a new model supporting L4 driverless in specific scenarios, and was launched and delivered in early 2021. The new car will be equipped with the third generation intelligent cockpit chip of the world’s first Qualcomm snapdragon, which can realize the L4 level automatic driving. It will also carry the AVP autonomous parking function, which is in-depth cooperation with Baidu, to realize L4 level unmanned driving in specific scenarios. Weima automobile will promote the mass production of advanced automatic driving front loading, so that L2 + automatic driving will gradually grow to L4 level. Similarly, on September 3, Weilai automobile announced that it had completed the issuance of 101.77.5 million new ads shares, with a total financing amount of 1.73 billion US dollars. Weilai said part of the net proceeds from the issuance will be used for research and development of autonomous driving technology. To this end, Weilai automobile also recruited Ren Shaoqing, technical director of momentum, an auto driving start-up company, to take over the research and development of automatic driving, which is also a signal for Weilai automobile to regain automatic driving. < p > < p > ideality and Xiaopeng also revealed their plans for automatic driving technology on different occasions. In June 2020, on the eve of listing, Li Xiang disclosed in an interview with the media that he would realize L3 level in 2021 and 2022, launch a new model with standard hardware system supporting L4 level automatic driving ability in 2023, and plan to OTA L4 automatic driving ability around 2024. < / P > < p > the ideal car also said that the automatic driving and computing platform, including the entire intelligent cockpit, all need to start self-study. In the d-round financing and IPO, ideal automobile has obtained more than 2 billion US dollars. Mr. Wang Weikai, who recently worked as CTO in automobile industry, worked as an ideal car driver. < p > < p > when Xiaopeng automobile was launched in G3, it mainly focused on automatic parking, and in P7, it mainly focused on xp3.0 system. To this end, Xiaopeng automobile has organized research and development teams in China and the United States. According to the information in the prospectus of Xiaopeng automobile, the revenue of Xiaopeng automobile in 2019 is 2.32 billion yuan, and the R & D investment in 2019 is 2.07 billion yuan, accounting for 89.2% of the revenue. < / P > < p > as the four new car manufacturing forces have reserved sufficient funds, the prelude of a new round of competition has gradually opened, which also means that the four major automobile manufacturing enterprises will invest heavily in technology research and development and product optimization, and the enterprises that come out first will win the user experience, car sales and get out of the quagmire of loss. < p > < p > for Weima automobile, it is a good thing to obtain 10 billion yuan of financing, but this money still needs more money and more investment in solving the problems of single vehicle model, technology research and development and channel system construction. 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