Shulou(Shulou.com)11/24 Report--

Thank you, Mr. Air, CTOnews.com netizens, and Daniel Wu for your clue delivery! CTOnews.com news on July 13, Lai Motor issued an announcement on the Hong Kong Stock Exchange, announcing that it had completed a US $738.5 million (CTOnews.com Note: currently about 5.295 billion yuan) strategic equity investment from CYVN Holdings, an investment agency owned by Abu Dhabi, United Arab Emirates, which was previously announced on June 20, 2023.

According to public information, CYVN Holdings also bought $350 million worth of A shares from a Tencent affiliate. After the completion of the investment deal, CYVN Holdings held a total of about 7.0 per cent of the outstanding shares of Xilai.

Li Bin, founder, chairman and CEO of Weilai, said: "this investment transaction will further strengthen Weilai's balance sheet and provide continuous impetus for us to accelerate business growth, promote technological innovation and build long-term competitiveness. At the same time, we look forward to working with CYVN to expand our international business in the future."

CYVN Holdings is a majority-owned investment institution owned by the Abu Dhabi government, focusing on strategic investment and layout in advanced and smart mobile travel areas, and is committed to working with global industry leaders in this field.

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"Weilai received an investment of US $1.1 billion from the Abu Dhabi Sovereign Fund. Li Bin: just talked for three weeks."

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