A Chinese electric vehicle company has announced its plan of accepting investment and funds to improve its market value past $2 billion. Aichi Automobile revealed this plan hoping that the local and foreign investors can cash into their programs to facilitate the company’s expansion. Reports indicate that China’s mega-company, Didi Chuxing, is among the investors who will be gracing the fundraiser. The company executives refused to reveal more details concerning the fundraising to maintain the investors’ confidentiality who cash into the project. The employees and common citizens think that Aichi, aka Airways, will utilize this capital to widen their operation scale and develop the electric vehicles with the technology they have been developing.
The company came into being four years ago courtesy of Samuel Fu and Gary Gu, who are local entrepreneurs. The company has a production center in Jiangxi province and a battery pack utility in Suzhou of Jiangsu. Another center offering services to the company is its European research, development, and sales center in Germany and finally a production center in Denmark.
Executives explained that they are monitoring the appropriate strategy that they would use to utilize the funds raised from the strategy to expand their utilities or processes. The representatives from both Airways and Didi Chuxing refused to make public comments concerning the purpose or project that the funds obtained would be doing for the electric vehicle company.
Didi managed to beat Uber Technologies in China and has been looking for partnerships with car manufacturers to develop electric vehicles in the ongoing transition to electric vehicles. The company intends to unveil electric vehicles manufactured by BYD Co and supported by Warren Buffett. The Chinese EV company procured help from Didi, opting to put its electric vehicle technology into action. China has become the largest market for electric vehicles, with leading electric vehicle manufacturers like Tesla camping in the country and battling it out with local manufacturers like Nio, Li Auto, and Xpeng.
Last year witnessed the country accepting over 200000 electric vehicles to grace their market. This year will be a record since more electric vehicle companies are launching their models in the country and in the globe. Chinese customers cannot accept to tread in the technology while the world proceeds into the new technology. The people will resort to importing these vehicles to satisfy their hunger for electric vehicles, which will be easy since the policies regulating the electric vehicle industry are lenient.