Chapter 304 Achieved
Chapter 304 Achieved
It didn’t take Yu Xing long to decide on the location of Lingang.
Just as he started the electric car project by investigating the supply chain, Lingang, which lists the automobile industry as one of the "five major equipment industries", has relevant supply chain advantages. Moreover, based on initial contacts, the land acquisition costs and policy support are good.
The "seven connections and one leveling" supporting conditions provided in the transfer of industrial land can generally reduce the company's initial development costs by 15%-20%, and 30%-50% of the land transfer fees can be returned to key industrial projects, which can further reduce the actual costs.
Yu Xing received other site selection suggestions from the team. One of the attractive reasons was that Shanghai was very developed, and if he went to a relatively less developed area, he could strive for more preferential policies and benefits.
But in the end, he still chose Lingang.
No matter what, the most important thing at the current stage is to make a successful car. In addition to Shanghai's supply chain advantages, subsequent support similar to new energy vehicle license plates will also have a strong impact on users.
Carbon Silicon Group's electric vehicles are currently positioned in the mid-to-high-end market, and its market strategy must be to focus on large cities first.
Besides, things in Shanghai are still fewer and simpler. Yu Xing is not sure what will happen if he rushes into other places with only a little reputation in the mobile Internet.
If we can achieve initial success, we can then strive for policies and support from different regions depending on the situation, and things will be much more stable.
Yu Xing only talked about the superficial reasons, but it was enough to express his persistence in his ideas.
As an institution in Pengcheng, Shenzhen Capital Group's investment conditions are the same as those of Zhejiang Industrial Investment, so it is natural that the discussion could not go further due to this factor.
Zhao Guohao, the vice president who came on behalf of Shenzhen Capital Group, persuaded him twice, but finally said with regret: "Mr. Yu, I personally think your project has a very good prospect, but... if it is a mobile Internet project, I can still make the decision. The new energy vehicle sector does make people a little worried."
Zhao Guohao attended three meetings in a row from morning to night. No matter whether it was a large meeting, a small meeting or a financing meeting, he felt that Yu Xing's operation of this project was very organized. Unfortunately, once the investment is made, there are more related factors, and the project cannot be implemented in Pengcheng, so there is little hope.
Yu Xing was not surprised by the decision of Shenzhen Capital Group and Zheshang Industrial Investment. He just smiled and said, "Mr. Zhao, Mr. Cai, although I can't go now, we still have the opportunity to cooperate in the future. The new energy industry chain is so long, and the success of our electric vehicle project must be the success of the entire industry chain. We have plenty of opportunities to cooperate in the future."
"It's not easy to invest in a scale of tens of millions to hundreds of millions, so since we're here, let's just do our part today and invest 10 million. Isn't that also a testament to everyone's vision?"
Yu Xing never thinks it is too little.
Zhao Guohao just laughed, with a tactful refusal on his face.
Cai Haoyu, who represents Zhejiang Industrial Investment, is different. As I said just now, if it is really landed in Lingang, the radiation range of the Yangtze River Delta is still quite wide, and opportunities in the industrial chain do exist.
He thought for a moment and said with a smile: "Then we can just invest directly in companies in the industry chain."
"Sure, I welcome it too. The new energy industry chain can welcome investment, which is a disguised way to promote our success. Just like the millimeter wave radar, it is really unpopular, and any amount of money is support." Yu Xing changed the subject, "However, we are going to do in-depth joint research and development this time, so we must understand the situation, progress, and prospects of the industry chain. Mr. Cai, you can invest in us. If you want to invest in other companies, you can also come and ask us."
After saying this, he smiled at the four people present and said, "Of course, IDG, Capital Today, Shenzhen Capital Group, they are all the same. I must say that this industry chain may undergo unprecedented changes due to the new demands of the tram project. If you are not in it, I am afraid it is not so easy to understand."
Xiong Xiaoge asked with interest: "Mr. Yu, can you give me an example?"
Yu Xing simply said: "For example, laser radar."
Zhao Guohao frowned and said, "Millimeter wave radar hasn't been developed yet, so laser radar is too far away."
"We haven't developed millimeter-wave radar yet, but it has been developed overseas for more than ten years," said Yu Xing. "During the daytime meeting, there was an engineer from Western Digital who had returned from the United States. He and I had a discussion at the Bai Xiaosheng Forum about the commercial prospects of LiDAR. Foreign countries are definitely leading in this area of research and development, but many of them are from China."
He thought for a moment and gave another example: "Just like the two founders of Jingjin Electric, they both went abroad to study at domestic universities, and after achieving academic success and seeing the future of the market, they were willing to come back and try."
Yu Xing finally pointed out Zhao Guohao's cognitive problems: "Moreover, millimeter-wave radar is not a prerequisite for the development of lidar. These are two different things."
Zhao Guohao listened to Mr. Yu's story and shook his head with regret, "Mr. Yu, you are forcing yourself to become an industry expert."
Yu Xing laughed: "No, I took the initiative to learn about it. Experts certainly can't do it, but I have to know roughly what's going on. If this project is to be done well, not only Carbon Silicon Group needs to go deep into the supply chain, but I also need to do the same."
Zhao Guohao gave his final blessing: "Mr. Yu, I look forward to the day when you lead the development of domestic new energy."
There is no need for Shenzhen Capital Group to continue attending the conference.
Zhejiang Entrepreneurs Venture Capital was in a similar situation, but after shaking hands with Mr. Yu, Cai Haoyu said, "Mr. Yu, you are just confirming the general intention now. I will go back and talk to you. The problem of project implementation is not easy to solve, and there is still a chance in terms of numbers."
He was inclined to do as Mr. Yu suggested, and make a small-scale investment to test his vision, just in case it worked. Yu Xing understood the choices of the two companies and still sent them off enthusiastically.
In the early hours of the morning, the financing meeting was moved from the office to the downstairs. The intentions of the two old friends, Xiong Xiaoge and Xu Xin, were confirmed, but some key details still needed to be communicated.
Yu Xing handed a cigarette to Xiong Xiaoge, then looked at Xu Xin: "Mr. Xu?"
Xu Xin took the cigarette and threw it into the trash can.
"Mr. Xu has a weird temper sometimes." Yu Xing lit a cigarette and sighed to Xiong Xiaoge.
Xiong Xiaoge smiled but said nothing. He smoked half a cigarette before saying, "Lingang is good, and Shencheng is also good. It's a good choice to start building a tram here."
Three consecutive good results, which shows that we are really satisfied with the site selection.
Yu Xing smiled and did not elaborate on the various factors to be considered. He continued to talk about the overall project planning.
Xiong Xiaoge listened for a while and asked, "Who did you ask to negotiate the project investment in Lingang?"
"I have to thank President Xu for this. She recommended me the old factory director Pang Ruiyang, a senior in the industry." Yu Xing nodded at Xu Xin. "The old factory director is not very good in other aspects, but he has no problem planning and contacting for factory construction."
Xu Xin said unhappily: "Are you praising me?"
"Each has its own use." Yu Xing said with a smile, "Every link is important."
Xu Xin asked a question that she had not asked before: "We have talked a lot about the three major components of your electric vehicle today, but the only thing we didn't talk about is the battery. Do you want to purchase it directly from Panasonic? Is there any problem?"
"Panasonic has a mature solution for Tesla," Yu Xing said thoughtfully. "However, there are many battery manufacturers for other products in China. I need to take a closer look. Anyway, we are exposed to both directions. When we actually do it, we will naturally know which one is more suitable."
Xiong Xiaoge took the last puff of his cigarette and looked at the Oriental Pearl Tower under the night sky: "How should the valuation of this round be calculated?"
"We will conduct a comprehensive investigation, from top to bottom, and continue to invest." Yu Xing succinctly summarized his team's recent work. "We estimate this round to be $10 billion. The initial plan is to raise $10 billion before the tram enters the market. I will bring $1 million in cash. If you two each contribute $4000 million, plus Red Falcon's $1 million, the three of us will contribute a total of 18% in proportion. It is more appropriate for the company's option pool to have 10%."
Xiong Xiaoge knew that the $1 million of Hongshun came from the profits on WeChat, but even so, he was still impressed and a little confused by Hongshun's handwriting: "Hongshun has great confidence in you."
Yu Xing smiled and said, "So, it will earn the most."
Xiong Xiaoge and Xu Xin's eyes met, and the superior horse and the inferior horse communicated across the air.
The main work of the tram project has actually been fully presented in front of us from the beginning to now. In addition to putting out US$1 million in cash, the founder will also have a certain guarantee for subsequent funds if Bai Xiaosheng is successfully listed.
Xiong Xiaoge nodded and said concisely: "Then let's work hard together."
Xu Xin said "hmm" and kept in sync with IDG.
Yu Xing didn't get excited at this time, but just smiled and said, "Yes, let's work together. Thank you for the trust of Mr. Xiong and Mr. Xu. Let my colleagues continue to implement it later."
By 1.8: a.m., Carbon Silicon Group received a first-round financing intention totaling US$ million.
This is a considerable number.
However, it was still slightly lower than Yu Xing’s psychological expectations.
At 2:30 in the morning, Liu Wanying, who had not shown up today, called from Hong Kong and learned about the financing situation.
Yu Xing briefly explained, and then sighed: "The initial funds are definitely enough, but I originally thought that I could leverage more funds, but what a pity, ah... it would be better if there were more funds."
Liu Wanying could only hear Boss Yu's voice, but at this moment she seemed to see his thoughtful eyes from across the air.
That look must belong to someone who has been over a mountain peak.
(End of this chapter)