With Su Weiming’s influence in the global automobile industry and the business form recognized by the industry, the start-up Binli automobile is the next city in the capital market.
On February 15, Su Weiming, a senior executive of China’s Associated Press, took the lead in establishing the high-end brand of Changjiang Electric capital. Since then, Changjiang capital has officially announced this.
According to the cooperation reached between the two sides, Changjiang capital and Binli plan to jointly establish Hubei new energy automobile industry fund (tentative name), which will mainly focus on investing in the production and sales of new energy vehicles and equity investment projects in the automobile ecological industry. The total investment of the fund is expected to exceed 10 billion yuan. At present, Binli and industrial chain related enterprises have been reserved. It is planned to build a passenger car industry base including vehicle production line and build an upstream and downstream supply chain ecology with vehicle production as the core in Wuhan..
“The first phase of the fund is about 3 billion yuan, which is actually invested in Binli.” Insiders who know the inside story revealed that the cooperation between the two sides is led by the local government. “Changjiang capital has taken a fancy to Binli’s brand attributes of new energy and high-end luxury.”
Public information shows that the full name of Changjiang capital is Hubei Changjiang capital (equity) Investment Fund Management Co., Ltd., which is a market-oriented equity investment fund management company under Changjiang industrial investment group (long term investment group); The long-term investment group has just completed the reorganization on January 25, 2022, which is a state-owned independent company funded by the Hubei provincial government.
In fact, Binli and Hubei have “origin”. According to tianyancha, Wuhan BINLI Information Technology Co., Ltd. was established in December 2021 with a registered capital of 1 million yuan, and SOH Wei Ming (Su Weiming) served as the legal representative. The business scope is electric vehicle manufacturing, auto parts and accessories manufacturing, new energy vehicle sales, etc., which are 100% controlled by Beijing BINLI Information Technology Co., Ltd. (hereinafter referred to as “Binli information”).
At the beginning of last year, Su Weiming, a professional manager familiar with China’s auto market, left Volkswagen and founded Bentley. In June that year, Binli information, with Su Weiming as the legal representative, was established in Beijing with a registered capital of US $200 million. Its business scope includes new energy vehicle manufacturing and auto parts manufacturing. The largest shareholder is beyonca HK Limited, with a shareholding ratio of 100%.
“Bingli is opening a round of financing.” The aforementioned insiders told reporters that at present, the investment market has paid attention to the value of Su Weiming and his entrepreneurial team. “The pre-A round of financing has been completed and invested by Renault.” As early as last December, an unnamed insider in the industry said that according to the information it had, Dongfeng Group had invested in Binli and planned to contract for it.
Among the five natural person shareholders of beyonca, the parent company of Binli information, you Zheng, deputy general manager of Dongfeng Automobile Co.Ltd(600006) group, and Liao Xianzhi, chairman of Wuhan Dongfeng insurance brokerage company have long been among them. It is worth noting that in January 2022, Beijing Binli intelligent technology company associated with Su Weiming added four directors: Liao Xianzhi, you Zheng, Zhang Yi and Zheng Zibin, and expanded the business scope of charging pile, electric vehicle charging infrastructure operation and centralized fast charging station.
“The change of board members means that Dongfeng’s capital contribution has been in place.” According to the above-mentioned industry insiders, while the funds are gradually in place, Binli has built a luxury management team joined by several senior executives in the automotive and Internet industry, including Kristen Klinger, the former director of global marketing and sales of Volkswagen Group, the former design director of Binli, and a former senior executive of Xiaomi group.
According to the plan, Bingli will officially release relevant contents before and after the Beijing auto show in April this year, and display the first mass production concept car.
