On the evening of November 20th, Zero Run Motors announced that 194 million new H-share subscriptions had been issued to Stellantis Group, and the company's total proceeds exceeded HKD 8.5 billion. At this point, Stellantis Group, the world's fourth largest car company, has officially completed the transaction of subscribing to about 20% of the shares of Zero Run Motors
The cooperation between Lingpao Automobile and Stellantis Group is quite large-scale. From the announcement of the cooperation signing on October 26th to the completion of delivery and landing on November 20th, it only took a short 25 days. This speed greatly exceeded people's expectations and can be said to be the fastest delivery speed in the industry's history. In contrast, Xiaopeng and Volkswagen Group announced a framework cooperation agreement as early as July this year, but there has been no substantial progress so far. Although Xiaopeng and Volkswagen Group took the lead in announcing the time, in terms of actual implementation, Zero Runner and Stellantis Group were earlier than expected.
The execution speed and ability demonstrated by both parties in the cooperation are impressive and have also attracted considerable attention in the industry. After completing the delivery, on November 23rd, Zero Run held another media conference to disclose the details of the project. According to Wu Qiang, Co President of Zero Run Motors, since February this year, Zero Run has had in-depth exchanges with multiple potential partners and ultimately chose to cooperate with Stellantis Group. This decision is based not only on the inevitability of extremely high complementarity, but also on the high alignment between the two parties in terms of company culture and cost control concepts. Wu Qiang said, "The completion of the delivery marks the establishment of a commercial partnership with Stellantis Group, which is the first step of the 'Long March'. Next, we will further promote investment cooperation and the construction of strategic partnerships, which will be a long-term process and a relatively heavy workload
After Stellantis Group officially became a shareholder of Zero Run, it obtained two seats on the board of Zero Run. Regarding this, Wu Qiang emphasized that "Stellantis will invest in the board of directors and as a shareholder, it will not change the equity structure, shareholder structure, and daily operation and management of Zero Run Technology." It is reported that there are 7 Chinese and 2 foreign members on the board of directors of Zero Run, a total of 9, and each director has the same rights and obligations. In the future, Zero Run will continue to be led by its founder, chairman, and CEO Zhu Jiangming, with the Chinese side taking the lead in the next step of development.
Both parties plan to jointly establish a joint venture company called "Zero Run International", which will leverage Stellantis Group's extensive commercial assets, strength, and accumulation worldwide to sell Zero Run's high-tech and highly cost-effective products to the world. When discussing the future prospects of the project, Wu Qiang stated: Our plan is to start from the European market, which involves a lot of work, including product, marketing, sales, after-sales service, and network, as well as pricing and financial strategies, and compete with other electric vehicle manufacturers. The teams of both sides are conducting in-depth discussions on various aspects, and it is expected to start delivering our cars to the European market in the third quarter of next year. This is a rough idea Jing
On the grand stage of the Guangzhou Auto Show, the first global model of the Zero Run, the C10, made its domestic debut. This is the first time the Zero Run C10 has made its debut in China, following the global debut at the Munich Auto Show. The new car is planned to complete a series of actions such as domestic pre-sale, store arrival, launch, and delivery in the first quarter of next year. At the same time, the C10 will be Zero Run's first model imported overseas through Stellantis Group, and its EU overseas market certification process will also be carried out simultaneously. C10 will mainly target developed markets in Europe, starting from larger markets such as Germany, France, Italy, and the West, and other countries will gradually introduce it to continuously enhance Zero Run's visibility in the global market.
For the new cooperation model between top multinational car companies and Chinese new power car companies, Wu Qiang believes that it allows both sides to mutually benefit and find what they want. We can leverage the advantages of speed iteration to provide a competitive electric vehicle product portfolio, filling the gap in the electric vehicle products of 14 brands under Stellantis Group. Our strong and highly efficient comprehensive research and development system supports cost, functionality, and comprehensive product capabilities, allowing Zero Run to continuously launch electric vehicle products with price and cost advantages. "Wu Qiang further explained.
The reason why Zero Run was able to impress Tang Weishi, who is known for its harshness, led Stellantis Group to spend 1.5 billion euros on Zero Run. This is because Tang Weishi values Zero Run's pragmatic spirit, technological strength, and efforts to provide intelligent travel experiences for global automotive consumers. These characteristics make Zero Run stand out among the new forces in China. Recently, Stellantis Group announced its cooperation with CATL. Both Zero Run and Ningde Times have performed outstandingly in their respective fields and won widespread recognition in the industry.
Tang Weishi once stated that they hope to cooperate with the best companies in China. Globalization is difficult, with diverse policies, but the method is simple: to cooperate with the best companies! Global problems require global cooperation. Perhaps in the eyes of Stellantis Group and Tang Weishi, Zero Run and Ningde Times have the same status in their hearts, both of which are one of the most competitive and innovative enterprises in the industry and irreplaceable.