Exchange $700 million for 4.99% equity! Xiaopeng Motors announces that Volkswagen has completed its investment in the joint venture model and has passed the feasibility study
芊芊551
发表于 2023-12-7 15:04:01
277
0
0
On the evening of December 6th, Xiaopeng Motors (09868. HK) announced that it had signed a technical framework agreement with Volkswagen (China) Investment Co., Ltd. (hereinafter referred to as Volkswagen) for strategic technical cooperation. At the same time, Xiaopeng Motors issued Class A common shares to Volkswagen (or a nominee of Volkswagen, which is an affiliate of Volkswagen) in accordance with the general authorization under the share purchase agreement.
Xiaopeng Automobile Announcement
Xiaopeng Motors stated that all the prerequisites stated in the share purchase agreement have been met, and the investment has been completed on December 6, 2023, in accordance with the terms and conditions of the share purchase agreement. A total of approximately 94.0793 million Class A common shares (subscription shares) have been successfully allocated and issued to Volkswagen Finance Luxembourg S.A. (a subsidiary of Volkswagen, also known as the investor nominee) at a purchase price of $15 per American Depositary Share (calculated based on the exchange rate of HKD 7.8096 to $1.00 representing two Class A common shares per American Depositary Share), with a total face value of $940.79255.
It is understood that the above-mentioned 94.0793 million shares of Class A common stock account for approximately 4.99% of the total issued and publicly traded share capital of Xiaopeng Motors after the completion of the transaction.
The announcement shows that the total purchase price for all subscribed shares is approximately 705.6 million US dollars. The net amount of investment income is approximately 704.6 million US dollars. The net purchase price is approximately $15 per American depositary share (equivalent to approximately HKD 58.5 per Class A common share).
After the completion of the transaction, Volkswagen Investment's nominee shares accounted for 4.99% of the A-class common shares, other shareholders accounted for 76.51%, and B-class common shares accounted for 18.5%, with a total of 1.885 billion shares. Volkswagen has obtained an observer seat on the board of directors of Xiaopeng Motors. Xiaopeng Motors has stated that it plans to use the net proceeds from its investment for general corporate purposes, including meeting operational capital needs.
On July 26th this year, Volkswagen and Xiaopeng Motors reached a technical framework agreement. As part of the cooperation, Volkswagen Group will increase its capital to Xiaopeng Motors by approximately $700 million and acquire approximately 4.99% of Xiaopeng Motors' equity at a price of $15 per ADS (*).
Volkswagen has stated that both sides plan to jointly develop two electric models under the Volkswagen brand for the mid size car market in China. These two new cars, exclusively for the Chinese market, will supplement the product portfolio based on the MEB platform and are planned to enter the market in 2026.
Xiaopeng Motors revealed that in terms of strategic technology cooperation, Xiaopeng Motors and Volkswagen Group will jointly develop vehicle models based on Xiaopeng Motors' G9 model platform, intelligent cockpit, and advanced driving assistance system software. In addition, both sides will explore other potential strategic cooperation in multiple fields, including future cooperation in electric vehicle platforms, software technology, and supply chain.
On October 12th, He Xiaopeng, Chairman and CEO of Xiaopeng Motors, posted on Weibo stating that he visited the Wolfsburg headquarters of Volkswagen Group at the end of September. "In the past few months, our jointly developed car models have been accelerating, and the technical teams of both sides are like an entrepreneurial team, fully committed and advancing at full speed for a common goal. The strategic cooperation in the supply chain will bring us the potential for common cost reduction." He Xiaopeng said.
"The cooperation between Xiaopeng Motors and Volkswagen is progressing smoothly, with approximately two meetings per week. We have many personnel at Volkswagen, and Volkswagen also has many personnel in Guangzhou (referring to Xiaopeng Motors' headquarters). We are discussing the current deal (agreement) and more deals (agreement)." He Xiaopeng said in an interview with the Daily Economic News on the 1024 Xiaopeng Automotive Technology Day.
In addition, He Xiaopeng also revealed that after reaching a cooperation agreement, Volkswagen studied Xiaopeng's products. "This time, after Xiaopeng and Volkswagen reached a cooperation agreement, Volkswagen executives told me. They believed that Xiaopeng's parts procurement costs were higher than their peers, which also triggered other events (referring to Xiaopeng's internal announcement of the suspension of procurement department head Li Feng and multiple employees cooperating in the investigation)." He Xiaopeng said.
In the above announcement, Xiaopeng Motors also stated that significant progress has been made in the development of two B-class pure electric vehicles jointly with Volkswagen. The feasibility study of the project has achieved positive results and has been completed. In addition, both sides are actively evaluating deeper cooperation in the field of intelligent electric vehicle technology.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Intel: No plans to divest majority stake in Mobileye
- Vista Equity Partners和黑石集团据悉正就收购Smartsheet进行深入谈判
- Vista Equity Partners and Blackstone Group reportedly in deep talks to acquire Smartsheet
- Vista Equity Partnersとブラックストーングループは、Smartsheetの買収について深く交渉しているという
- 비스타 에퀴티 파트너스와 블랙록은 Smartsheet 인수를 위한 심도 있는 협상을 진행 중인 것으로 알려졌다
- JD Finance refutes rumors of a "run on banks"; Intel considers selling Altera equity for $17 billion
- Public transportation: The company currently has no project cooperation with Tesla
- Geely's Jike and Lynk&Co 'integration': Jike spent over 9.3 billion yuan to acquire 51% equity of Lynk&Co
- Starbucks responds to rumors of considering selling equity in its China business: committed to long-term development in the Chinese market and striving to find the best growth path
- Will some equity in the Chinese market be sold? Starbucks responds: intends to explore strategic partnerships
-
知名做空机构香橼研究(Citron Research)周四(11月21日)在社交媒体平台X上发布消息称,该公司已决定做空“比特币大户”微策略(Microstrategy)这家公司,并认为该公司已经将自己变身成为一家比特币投资基金 ...
- caffycat
- 昨天 11:18
- 支持
- 反对
- 回复
- 收藏
-
每经AI快讯,11月20日,文远知行宣布旗下自动驾驶环卫车S6与无人扫路机S1分别在新加坡滨海湾海岸大道与滨海艺术中心正式投入运营。据介绍,这是新加坡首个商业化运营的自动驾驶环卫项目。 ...
- star8699
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
上证报中国证券网讯(记者王子霖)11月20日,斗鱼发布2024年第三季度未经审计的财务报告。本季度斗鱼依托丰富的游戏内容生态,充分发挥主播资源和新业务潜力,持续为用户提供高质量的直播内容及游戏服务,进一步 ...
- goodfriendboy
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
人民网北京11月22日电 (记者栗翘楚、任妍)2024广州车展,在新能源汽车占据“半壁江山”的同时,正加速向智能网联新能源汽车全面过渡,随着“端到端”成为新宠,智能驾驶解决方案成为本届广州车展各大车企竞 ...
- 3233340
- 昨天 17:06
- 支持
- 反对
- 回复
- 收藏