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

"following Volkswagen holding hands with Xiaopeng, another new power car company is holding hands with international car companies.

Synthesis: Poetry |

On October 26, Zero announced that Stellantis Group plans to invest about 1.5 billion euros (11.57 billion yuan) to acquire about 20% of its shares, which will make Stellantis Group a major shareholder of Zero Motor. It is reported that the Stellantis Group will have two seats on the board of Zero Auto.

In addition, Zero Motor and Stellantis Group will form a joint venture called Zero International (Leapmotor International) with a proportion of 49% and 51%, and the CEO of Zero International Joint Venture will be appointed by Stellantis Group.

Source: zero running car 01, set up a joint venture company, and start export in the second half of next year. On the morning of October 26, zero running car announced that on October 26 (before the trading session), the company signed a subscription agreement with Stellantis. Agreed to allot and issue 194 million H shares to Stellantis at a subscription price of HK $43.80 per share. The subscription shares will be allotted and issued in accordance with the General mandate.

The total proceeds from the subscription will be HK $8.508 billion and will be allocated for R & D investment, marketing, production capacity enhancement, working capital and general corporate uses, etc.

At the same time, the two sides plan to form a joint venture called Zero International, in which Zero and Stellantis own 49 per cent and 51 per cent respectively.

Zero Auto said the joint venture would accelerate and expand global sales of zero car products by leveraging Stellantis's extensive commercial assets, strength and accumulation around the world.

In addition, Zero International has the exclusive right to export, sell and manufacture Zero Automotive products outside Greater China. Zero running International is expected to start its export business in the second half of 2024.

Zero said that under the subscription agreement, Stellantis would hold about 14.53 per cent of the company's expanded issued share capital.

Stellantis will have two seats on Zero's board and Stellantis will appoint the CEO of Zero International.

On the same day, Dahua issued an announcement on the transfer of shares in the company and related party transactions, which showed that the company planned to transfer 90 million shares of Zero to Stellantis at a price of HK $3.493 billion, of which 45 million were H "fully tradable" shares and 45 million were domestic shares) accounting for 7.88 per cent of the total share capital of Zero at the time of the signing of the agreement.

Dahua shares said that after the completion of this transfer, the company will no longer hold zero car shares. After the completion of this transaction, it is expected to increase the company's current profit by about 4.548 billion yuan (before tax, accounting for 195.70% of the audited net profit of shareholders of listed companies in 2022).

02. Speed up the development of the international market Stellantis was established at the beginning of 2021 by the merger of two companies with a history of more than a century, PSA (Peugeot Citroen) and FCA (Fiat Chrysler).

At present, it has 14 iconic car brands and 2 mobile travel service units, customers in more than 130 countries, and manufacturing operations in more than 30 countries.

Stellantis Group brands include Abbas, Alfa Romeo, Chrysler, Citroen, Dodge, DS, Fiat, Fiat Commercial vehicles, Jeep, Lancia, Maserati, Opel, Peugeot, RAM, Vauxhall, covering ultra-luxury, luxury, mainstream passenger vehicles and even heavy pickup, SUV and light commercial vehicle segments. In addition, there are specialized brands of mobile travel, finance, spare parts and services.

As of October 26, Stellantis Group brands, Stellantis ranked seventh in the world in terms of market capitalization. In the first half of 2023, Stellantis achieved net revenue of 98.4 billion euros and net profit of 10.9 billion euros. With its adjusted operating profit margin of 14.4%, it continues to be one of the highest profit margins in the automotive industry in the world.

Carlos Tavares, global chief executive of Stellantis, said: "with the integration of strong electric car start-ups in the Chinese market, a small number of efficient and flexible new electric vehicle companies such as zero running cars will occupy the mainstream market segment of China's electric vehicle market, a trend that is becoming increasingly evident. We believe that now is the best time for Stellantis Group to support it and play a leading role in Zero's global expansion plans. Zero-running car is one of the most impressive electric car startups, and like Stellantis, it has a similar technology-leading concept and entrepreneurial mentality. With this strategic investment, a potential area of the Stellantis Group's business model will be developed, and the Stellantis Group will profit in China and other markets through the competitiveness of zero cars. I would like to thank Mr. Zhu Jiangming and the teams from our two great companies for their leadership and cooperation in creating this new opportunity for the Stellantis Group and Zero Automotive. "

Zhu Jiangming, founder and CEO of Stellantis Global CEO Carlos Tavares, said: "Today is an important milestone in the history of zero-running cars. I am very pleased to witness this important moment with Mr. Tang Weishi and his team. Through our independent and global R & D capabilities, Zero cars have brought the best electric vehicle products of the same level to the market in the most cost-competitive way. We believe that the strong alliance formed in the rapidly changing market environment will bring a mutually beneficial and win-win partnership to both sides. Together with the Stellantis Group, we will continue to innovate in the areas of technology and business collaboration and sell zero-running cars worldwide. "

Zhu Jiangming, founder and CEO of Zero Motor, ranked second in the new car delivery list of new power car companies in September, delivering 15800 vehicles in September, an increase of 11.3% over the previous month, reversing the decline in August and setting a new monthly delivery record. A total of 44325 vehicles were delivered in the third quarter, an increase of 30% over the previous quarter, with an average monthly delivery of nearly 15000 vehicles.

However, Dolphin Investment said: "although Zero's operating cash flow became positive for the second time in the third quarter, according to the real rate of cash consumption, if there is no further financing, it may only leave Zero for more than a year."

According to Zero, the partnership not only aims to further increase the sales of Zero in China, the world's largest auto market, but also relies on Stellantis's mature business layout in other global markets to vigorously increase the sales of Zero in the local market, starting with the European market.

This article comes from the official account of Wechat: new Research (ID:chuxinyanjiu), author: Poetry

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