The first round of financing was 1.08 billion US dollars! LeTV Auto creates the first round of financing records for global cars

Last night, at the carnival night, Le Shi founder Jia Yueting and Lang Ping, the Chinese women's volleyball team interacted with each other. Jia Yueting also broke a heavy news on the spot: LeTV's first round of financing of 1.08 billion US dollars has been completed, this figure has set a record for the first round of financing of the global smart electric vehicle industry.

Since the launch of the first round of financing for LeTV, rumors about its investors have continued. The final list of investors was personally announced by Jia Yueting at the 919 fan night party: the core investors of the first round of financing include the Yingda Capital of the State Grid, the Shenzhen Government Investment Platform, Shenzhen Venture Capital, the business godfather Liu Chuanzhi, Lu Zhiqiang and the big Fu Fujun and Yao Qiyong's subsidiaries are also involved.

For LeTV, people from Yingda Capital said: “It is a dream for everyone to have a completely independent intellectual property, electric, intelligent and Internet-based supercar. We look forward to the LeTV team to help us achieve this”; “LeTV Supercar Project is a The project is forward-looking and historically driven, and is optimistic about the future development of LeTV.” People’s Livelihood Trust said that the Hongzhao Fund commented: “The first time I saw the national automobile industry design and technology stood in the world car. The forefront of the industry, excitement and excitement is no less than seeing the Olympic athletes win the gold medal for the motherland! The success of LeTV will be a great success for domestic capital to help its outstanding enterprises to embark on the international leading development path!"

The list of luxury investors, composed of central enterprises, state-owned assets, powerful financial institutions and private enterprise business leaders, shows their confidence in LeTV and will boost the rapid development of LeTV.

It is understood that LeTV is one of the earliest enterprises to enter the field of Internet intelligent electric vehicles, and is the only Internet company to enter the whole vehicle manufacturing process. From the perspective of deconstruction analysis of the four dimensions of whole industry layout, electric, intelligent and sharing, LeTV is the only Internet company to enter the whole vehicle manufacturing process; Strategic partner FF has made a major breakthrough in the field of electric driverless technology. Previously, spy photos showed that it seems to have started testing on the road; in the field of rear-mounted car networking, LeTV's “platform + content + terminal + application” ecological model allows it to be at the entrance, In terms of liquidity and other aspects, it has more advantages and advantages than competitors. In the field of sharing, LeTV has become the second-ranked shared travel platform in China.

At the scene of the 919 fans carnival night, Jia Yueting expressed his great respect to the spirit of the Chinese women's volleyball team. He also recalled the feelings of Le Shi who walked along the road and never gave up. As an Internet eco-enterprise that has entered the 7 major industries, LeTV has experienced a lot of pressures and challenges in the process of creating the ET era and becoming a global leader. Among them, the entry into the auto industry has met with the strongest opposition and questioning, but Jia Yueting said, "As long as we can promote social progress, even if we are not ruined, we will not turn back."

Jia Yueting believes that Lang Ping and the Chinese women's volleyball team have become the symbol of the times because they have touched China's generations. When he learned that Lang Ping was LeTV's super fan, Jia Yueting decided to present him with the first connected electric intelligent ultra-luxury crossover car made by his strategic partner FF. He also quoted the famous sentence in the poet Shu Ting "This is everything". "Everything is now gestating the future." I hope that "LeTV will just be on the road. I hope that Teacher Lang Ping can witness its future from now on."

About LeTV's extended interpretation:

investor

The core investors of LeTV's first round of financing include Yingda Capital, a subsidiary of State Grid, Shenzhen Venture Capital Investment Platform, Legend Holdings, Minsheng Trust, Xinhualian and Hongzhao Fund.

Yingda Capital: According to public information, State Grid Yingda Group was renamed by the former State Grid Asset Management Co., Ltd. on December 20, 2010. It is a wholly-owned subsidiary funded by State Grid Corporation with a registered capital of 16 billion yuan. Yingda Capital, which is involved in LeTV's investment, was established on September 16, 2015. It is a wholly-owned subsidiary of Yingda Fund Management Co., Ltd., a division of Yingda Group, which manages the assets of Yingda Fund.

Shenzhen Venture Capital: It is the investment platform of Shenzhen Municipal Government. Its major shareholders include Shenzhen State-owned Assets Supervision and Administration Commission and Shenzhen Investment Holdings Co., Ltd. In 2008, in the financing of LeTV, its leading investor was Shenzhen Venture Capital. Since then, Shenzhen Venture Capital has carried out several capital operations with LeTV Company for several times: For example, in 2013, LeTV Film completed the first round of financing of 200 million yuan, which was also led by Shenzhen Venture Capital. Shenzhen Ventures has been involved in several important stages of LeTV's development; it is not surprising to see it again in the LeTV auto financing case.

Legend Holdings: In 1984, the Institute of Computing Technology of the Chinese Academy of Sciences invested 200,000 yuan, and 11 researchers including Liu Chuanzhi founded it. After 29 years of development, Legend Holdings has gone through three leap-forward growth stages from a single IT field to a diversified to a large-scale integrated enterprise. In 2012, Legend Holdings' consolidated turnover was 226.6 billion yuan and its total assets were 18.72 billion yuan. The total number of employees of Legend Holdings is approximately 60026 (including 8,300 international employees). On October 26, 2014, China's private top 500 was released, and Legend Holdings Co., Ltd. ranked second with 226.646 billion yuan in operating income and comprehensive strength.

It is reported that Legend Holdings is the first to confirm investment. In June of this year, Legend Holdings confirmed that it has invested in LeTV.

LeTV super car talent team

Since 2014, many well-known people in the automotive industry have joined the LeTV:

In August 2014, He Yi, former deputy editor of Sohu and general manager of the automotive business unit, joined LeTV as the CEO of LeTV.

In January 2015, Lu Zhengyu, former general manager of Infiniti China and Asia Pacific, became the vice president of LeTV Supercar China.

In April 2015, Gao Jingshen, an executive who was responsible for production at GAC Toyota, announced that he would join LeTV as the vice president of LeTV Supercar. The former FAW Volkswagen production director Frank Sterzer joined LeTV and was responsible for manufacturing related business.

In April 2015, Gao Jingshen, the former general manager of GAC Gio and the deputy general manager of GAC Toyota, officially joined the Le Steam Supercar project and became the vice president of LeTV Supercar (China) Co., Ltd.

In September 2015, former vice president of SAIC Ding Lei joined Le Auto as the co-founder of LeTV Supercar and served as the global vice chairman and executive director of LeTV Supercar, vice chairman, CEO and president of China and Asia Pacific, and concurrently concurrently Senior Vice President of LeTV Holdings;

In March 2016, Ni Kai, the former head of Baidu's unmanned driver, joined LeTV and introduced two products, such as driving recorder and light vehicle.

In April 2016, Zhang Hailiang, former vice president of SAIC Group, also joined LeTV as the president and COO of LeTV Supercar (China).

Although the outside world can not specifically know the current status of LeTV, but from the personnel point of view, LeTV is currently the core of the above-mentioned steam system, gathered a number of people in the automotive industry.

LeTV Super Car Planning

Previously, LeTV announced the launch of strategic cooperation in Zhejiang, including LeTV Supercar Eco-Experience Park, Smart Auto Industry Fund, and Internet Finance. The Leshi Super Car Eco-Experience Park, which covers the advanced manufacturing, ecological display and sightseeing experience of smart Internet electric vehicles, officially settled in Moganshan, Zhejiang Province, with a total investment of nearly 20 billion yuan.

According to the planning of the two parties, according to the project plan, the first phase of the LeTV Supercar Ecological Experience Park will cover an area of 4,300 mu and it is planned to produce 400,000 vehicles per year. Among them, the first phase of the project investment of 6 billion yuan, the annual production capacity of 200,000 vehicles; the second phase is planned to start construction within two years after the first phase of production, expansion capacity of 200,000 vehicles, project investment of 6 billion yuan. The business parks supporting the park mainly include administrative office areas and supporting facilities construction, with an investment of 2 billion yuan.

It is understood that before the financing, LeTV Automobile invested a total of nearly 350 million US dollars, all of which was invested by Jia Yueting. LeTV is expected to achieve breakeven from 2019 to 2020, and EBITDA will be positive; LeTV will have a total investment of US$7.9 billion from 2016 to 2022, mainly in the form of loans, and planned equity financing for three rounds of A and B. Wheel, Pre-IPO.