Hillhouse Capital fully exits the electric vehicle industry and invests $200 million in BYD's private placement.

On February 13th, Hillhouse Capital disclosed its US stock holdings as of Q4 2020 on the SEC’s website. According to the data, Hillhouse Capital had completely cleared its stock holdings in Li Auto, NIO and XPeng as of December 31, 2020.
However, recent news reports that Hillhouse Capital will invest $200 million in BYD’s US stock private placement. Li Yunfei, General Manager of BYD’s Brand and Public Relations Department, confirmed the authenticity of this news on Weibo.
Earlier, BYD announced the establishment of a high-end brand within 1-2 years and the separation of its DM plug-in hybrid product line into two, DM-p emphasizing performance and DM-i emphasizing economy. In addition, in the recent tight chip market, BYD, which has the ability to produce its own IGBT chips, seems to be highly favored by the capital market.
🔗 Source: fintel.io, weibo.com

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