360 or will enter the car? Strategically led Nezha Auto's Series D financing

China Automotive News, April 27th, yesterday, Nezha Automobile officially announced the launch of Series D financing with a financing amount of about 3 billion yuan. The leading Internet security company 360 (hereinafter referred to as '360') strategically led the investment. Round of financing. It is reported that after the completion of all investments, 360 is expected to become the second largest shareholder of Nezha Auto.

Nezha U Pro

Nezha Automobile is a new energy vehicle brand founded in 2014. It always focuses on smart safety and is committed to “making high-quality smart electric vehicles within reach”. Nezha V and Nezha U Pro are currently on sale, with cumulative sales exceeding 35,000 units. In the first quarter of 2021, Nezha Motors achieved sales of 7443 units, a year-on-year increase of 390%. Among them, Nezha V’s undelivered orders exceeded 4,000 units. Since Nezha U Pro was announced on April 19, the orders exceeded 5,000 units. With a strong upward momentum, it ranks first among domestic unlisted new and innovative energy vehicle brands.

Nezha V

In March of this year, Nezha Automobile announced that it had obtained a comprehensive credit line of RMB 5 billion from China CITIC Bank. The funds will be mainly used for the research and development of intelligent technologies such as Nezha Automobile’s smart cockpit and smart driving. In December last year, Nezha Automobile announced that China Ting Capital led the C round of financing of 2 billion yuan, and the final financing amount for the C round would far exceed the original planned 3 billion yuan. In July last year, Nezha Automobile stated that the company plans to be listed on the Science and Technology Innovation Board in 2021. Last week, Nezha Auto CEO Zhang Yong said that Nezha Auto does not rule out overseas financing, but it still focuses on the science and technology innovation board.

The lead investor in this round, 360, is China’s leading Internet and security service provider. It owns well-known security products and applications such as 360 Security Guard, 360 Mobile Guard, and 360 Security Browser, and has accumulated a large amount of network-wide security Big data and thousands of original technology and core technology invention patents have built a new generation of cybersecurity capability system with the 'safe brain' as the core. The goal is to become a national-level technical capability, national-level data scale, and national-level planning capability. Network security operators in the new era.