On November 12, China Express announced that China Express Holdings (Shanghai) Co., Ltd. (hereinafter referred to as China Express Shanghai) has reached a strategic cooperation with Bank of Communications Shanghai Branch on November 7. According to the agreement, Bank of Communications Shanghai Branch will provide Chinese Express Shanghai Branch and its affiliated companies within the group provided 5 billion RMB comprehensive credit support.

　　Chinese Express stated that the credit will be used for financial services including corporate settlement business, international business, corporate business, investment banking business, personal business, e-banking, etc., for the company’s economic production, sales, reserve, product development, technological transformation, etc. The event provides financial services.

　　Picture source: Chinese Express

　　It is worth noting that this is the first time since the establishment of China Express Gaohe Automobile that it has disclosed the exact information related to financing. In October 2018, Huaren Express held a grand press conference to unveil the corporate strategy, car-building concept, and car-building team of Gaohe Auto to the public, but it did not mention financing like other new car-building forces. progress. Ding Lei, the founder and chairman of Huaren Express, said at the time that before the project has made substantial progress, Huaren Express has no plans to launch private equity, nor will there be several rounds of financing. In the later years of the development of Chinese Express Gaohe Automobile, it did not disclose the financing trend.

　　At present, Gaohe Automobile is in the delivery stage of its first model HiPhi X. The model started delivery in May this year. In September, it surpassed Porsche Taycan and won the first place in the domestic luxury brand electric vehicle sales list of more than 500,000 yuan. Motor vehicle insurance data shows that from January to September this year, Gaohe's cumulative vehicle insurance volume was 2,051.

　　On November 6th, Gaohe Automobile released its second flagship model HiPhi Z. It is reported that HiPhi Z is positioned no less than HiPhi X. It is already a mass-produced model car. 95% of its mass production content has been locked and will be It will be unveiled and booked during the Beijing Auto Show in April next year, and will be mass-produced and delivered within next year.

　　From the above point of view, both models of Gaohe have entered the mass production and delivery stage one after another, and Gaohe is expanding experience stores and service centers nationwide. In general, the development of its business requires more and more funds.

　　This article is reproduced from Gasgoo.com