After receiving two consecutive rounds of financing totaling US$200 million, Weilai has raised money again, and this time it is "big money."

On February 25, NIO, which is at the forefront of various financing and divestment crises, officially announced the launch of the JAC NIO EC6 mass production project at the JAC NIO factory in Hefei.

At the same time, NIO's China headquarters was officially settled in Hefei, and a strategic cooperation framework agreement was signed with Hefei City.

According to content published by the Hefei Municipal People's Government's official Weibo account earlier today (now deleted and republished), according to this agreement, NIO will set up its China headquarters in Hefei and establish R&D, sales and marketing centers around Hefei and its surrounding areas.

, production base, and create a Chinese headquarters operation system centered on Hefei.

The financing will be used for the company's research and development, market system establishment and operation; at the same time, it plans to build a headquarters and R&D base (1 billion yuan) and a second production base (1.5 billion yuan).

NIO China estimates revenue of 14.8 billion yuan in 2020 (3 models on the market), 120 billion yuan in 2024 (6-8 models on the market), total revenue from 2020 to 2025 of 420 billion yuan, and total tax revenue of 7.8 billion

Yuan, and will be listed on the Science and Technology Innovation Board before 2025.

The framework agreement will bring over 10 billion in financing. According to NIO’s official financial report, for the whole of 2018, NIO’s total revenue was 4.95 billion yuan, but its net loss reached 9.639 billion yuan, a year-on-year increase of 92%.

.

Since the fourth quarter financial report has not yet been announced, NIO's total revenue in the first three quarters of 2019 was 4.976 billion yuan, including 1.631 billion in the first quarter, 1.508 billion in the second quarter, and 1.837 billion in the third quarter. However, the cumulative net loss in the first three quarters reached 8.43 billion.

Yuan.

As of September 30, 2019, NIO's cash and cash equivalents, restricted cash and short-term investments were 1.9607 billion yuan, a decrease of 1.4949 billion yuan compared with the second quarter and a 43.25% month-on-month decrease.

Although how much investment the Hefei Municipal Government will give to NIO, judging from the above message that has been deleted and reposted on the Weibo of the Hefei Municipal Government, the specific number is unclear.

But what is certain is that the planned financing for this project will exceed 10 billion yuan.

Judging from the financial report released by NIO, the intervention of the Hefei Municipal Government will alleviate NIO’s short-term financial distress to a certain extent.

For Hefei City, at this signing ceremony, in addition to the NIO China headquarters project, seven other projects were also intensively signed for "cloud", with a total investment of 102 billion yuan.

The eight signed projects are: China Resources Group strategic cooperation project, China Electronics strategic cooperation project, NIO China headquarters project, Israel Tower 12-inch analog integrated circuit project, GCL integrated recycled wafer manufacturing project, Guoxuan New Energy

Power lithium-ion battery project, Xinfeng Technology packaging and testing project and Aerospace Jiacheng special equipment R&D and manufacturing base project.

It can be seen that the Hefei Municipal Government also wants to rely on NIO to build Hefei into a new energy vehicle city, and plans to settle the NIO Center in Hefei in the future, creating a leading enterprise with an output value of 100 billion within 5 years.

Since its establishment, NIO has been seeking financing and has repeatedly reported financial problems.

In fact, Weilai China’s projects have already begun to take shape.

From the earliest site, Shanghai was planned to build its own factory, but it failed because Tesla was "one step ahead". In May last year, Weilai announced that it had signed a framework agreement with Beijing Yizhuang International Investment Development Co., Ltd. and would register in Beijing.

NIO China was established to build a new factory in the Beijing Economic and Technological Development Zone to produce its second-generation platform models.

To this end, Yizhuang State Investment will invest 10 billion yuan in the NIO China project as a whole.

But as time went by, both parties avoided talking about it, and the matter fell into disuse.

Since then, financing news has spread in Guangzhou, Zhejiang and other places, but there has been no follow-up.

This time NIO announced that it would cooperate with the city of Hefei to establish the NIO China Headquarters there. Its cooperation model is generally similar to the cooperation model of Yizhuang State Investment at that time.

It only increased the financing scale by 4.5 billion yuan.

For Weilai, it has never had independent automobile production qualifications. Therefore, from the birth of the company to the present, it has always relied on Jianghuai Automobile for OEM production.

The headquarters of JAC Motors is also in Hefei.

Through this cooperation, the relationship between NIO and JAC will become even closer.

It can also be seen from this signing that the Hefei Municipal Government’s support for NIO is also quite strong. Except for NIO, the other seven are related supporting companies in the new energy vehicle industry. For NIO, these are

Relevant supporting companies are assisting at a close distance, and they will be able to obtain lower prices in terms of mass production and logistics in the future. This should be considered a considerable benefit for the future, which has always been "short of money."

As we all know, Weilai is short of money right now.

With the withdrawal of Hillhouse Capital, the third largest shareholder, NIO's financing pressure has further increased.