Which company did Weilai Automobile acquire?

To speed up the layout, Weilai acquired 0/2% shares of foreign lithium mining company/KLOC.

Weilai Automobile is actively taking measures to speed up the layout to ensure the raw materials needed for battery production. The carmaker will buy about 12. 16% of Australian lithium company Greenwing Resources.

Weilai Automobile will pay120,000 Australian dollars to Lithium Battery Company at the price of 0.55 Australian dollars per share, and subscribe for 2 1, 8 18, 182 shares (placement). It will also have the right to be nominated as a member of the board of directors of Green Wing Resources, a position that requires automakers to hold at least 10% of the shares.

In addition, Weilai Automobile will also get a call option to purchase 20% to 40% of the issued capital of the Andean company that owns the interests of the Catamarca San Jorge lithium project in Argentina. Andean company owns the option of San Jorge lithium mine project.

Green Wing Resources plans to use 80% of the funds acquired by Weilai Automobile for its San Jorge lithium project in Argentina. The remaining funds will be used for general working capital and the cost of the proposed transaction. It is reported that the lithium project of San Jorge Salt Lake is located in the south of South America's lithium triangle, with a prospecting area of 360 square kilometers.

Weilai Automobile will also become a potential joint venture and off-take partner of this lithium company, which focuses on the production of graphite, advanced materials and lithium.

In August this year, the carmaker announced plans to enter the US market by 2025. Now, it has started to recruit employees at its American headquarters in San Jose, California, and opened an exhibition hall there. The company also plans to build an iconic battery replacement station at its US headquarters for testing. On the "Power Day" in 2022, Weilai also announced that it will build a high-speed power exchange network in 2025, covering nine cities in nine vertical and nineteen horizontal directions. Weilai Automobile plans to have more than 4,000 battery replacement stations around the world by 2025.