Recently, the smart brand obtained over 8 billion yuan of comprehensive credit. The smart brand’s global company has formed a strategic partnership with a bank consortium consisting of Shanghai Pudong Development Bank, China Construction Bank, Bohai Bank, Bank of Communications, Agricultural Bank of China, China Minsheng Bank, and China Guangfa Bank.
After careful planning, the comprehensive credit funds will be used to further improve production efficiency, accelerate future product research and development, and expand commercial networks, thereby helping the smart brand provide users with better product and service quality, faster delivery speed, and a more anticipated new generation of the smart electric vehicle family matrix.
Mr. Ulf Nestler, the CFO of the smart brand’s global company, said:
“We are very honored to have the trust and support of our bank partners. This comprehensive credit will not only enhance the resilience and long-term profitability of the smart brand’s business operations, but also help the smart brand effectively implement the forward-looking development strategy of “dual-core in China and Europe, global layout,” and achieve sustainable long-term development globally.”
Increase R&D Investment for Long-term Development
Smart stated that the brand will focus on user-centric and continue to solidify its overall strength in brand, product, service, and R&D. The comprehensive credit funds will help Smart further improve production efficiency and shorten delivery cycles. At the same time, Smart will increase its investment in research and development, fulfill its promise of “one new model each year from 2022 to 2024”, and strengthen the core capabilities of future products in intelligent assisted driving.
Adhering to the development strategy of “dual-core in China and Europe, global layout,” the global sales and service network layout of smart is rapidly taking shape. While China and Europe are the core markets, Smart is also starting to lay out the Southeast Asian market with Malaysia and Thailand as the center of round with BAIC Motors, exploring other high-potential new energy vehicle markets worldwide.
Based on the core concept of “user-centered, digitization-driven” D2C direct sales agency business model, Smart hopes to build high-quality online and offline touchpoints for users. This credit will also be used to enhance the efficiency of smart brand’s commercial network layout, accelerate the coverage speed of current blank markets, and provide users with a more convenient all-round brand product service experience.# New Smart Elf #1 to Begin Deliveries in Europe in Early 2023 and Launch in Malaysia in Q4 2023
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.