BMW will stop production in some European factories due to Russia Ukraine problems
According to foreign media reports, BMW said it would suspend the export of cars to Russia and stop assembling cars with a partner in Kaliningrad, Russia, until further notice. BMW also said it expected production at its plants in Germany and other European countries to be interrupted due to supply bottlenecks. The time, location and duration of shutdown are still under evaluation. It is reported that BMW’s largest factory in Europe, the German Dingolfing factory, may stop production next week.
Yicai comments: at present, many car companies have stopped their business in the Russian market and stopped delivering imported cars to Russia, including Jaguar Land Rover, Volkswagen and Mercedes Benz. Among them, Volkswagen will suspend the operation of some production lines in the Wolfsburg factory next week and expand the shutdown scale in the next week. It can be seen that the conflict between Russia and Ukraine will also impact the automobile industry chain, which will not only affect the Russian automobile business, but also affect the production of automobile enterprises in the global market.
billion cafe is considering listing in the United States through spac
According to foreign media reports, a person familiar with the matter disclosed that ecarx, a strategic investment of Geely Holding Group, is considering listing in the United States through merger with blank check company. At present, ecotone is discussing the transaction with a consulting company; If the transaction is completed, the combined entity will be valued at approximately $4 billion. One person familiar with the matter said the company was considering applying to regulators for approval to merge with special purpose acquisition company (SPAC).
Yicai comments: Yikatong technology, founded in 2016, is an automotive intelligent technology company, mainly focusing on core technology products such as vehicle chip, intelligent cockpit, intelligent driving, high-precision map, big data and cloud platform of Internet of vehicles. Previously, yichaitong has completed two financing transactions. The industry believes that the way of listing through spac has the advantages of faster time, simple process and less cost. As a global platform, Shen Ziyu’s goal is not worth paying attention to.
Weilai leasing sells RMB 1.03 billion directional asset-backed notes
On March 3, 2022, Shanghai Weilai Financial Leasing Co., Ltd. successfully issued the first phase of green directional asset-backed notes in 2022 in the inter-bank market. Shanghai Weilai Financial Leasing Co., Ltd., a subsidiary of Weilai, is the initiator, and Bank Of Shanghai Co.Ltd(601229) acts as the lead underwriter. The total scale of the project is 1.03 billion yuan, and the coupon rate of priority a is 2.89%. All the raised funds will be used for the investment of Weilai intelligent electric vehicle business.
Yicai comments: this is another attempt of financing in the inter-bank market after Weilai issued the first single carbon neutralization new energy vehicle leasing ABS on the Shanghai Stock Exchange on October 29, 2021. Weilai said that Weilai leasing has completed the establishment of direct financing channels in both the exchange market and the inter-bank market, which provides a strong guarantee for the company to further boost vehicle sales and promote green and low-carbon development.
