Recently, a Dentons Taiyuan team, led by senior partner & head of Finance practice Liang Lijun, supported by associates Zhang Zhuqin, Gao Peng and Guo Hui, collaborated with a Shanghai team led by partner Wang Qin, assisted by associates Xu Dong and Bi Zhongzhou, and paralegals Lin Hanyu and Xie Ruyan, to assist Shanxi Taihang Industrial Investment Fund Management Co., Ltd. (Taihang Industrial Fund) in its investment in Weimar Smart Travel Technology (Shanghai) Co., Ltd. (Weimar Motor)'s C-round financing. They conducted legal due diligence on this transaction.

Taihang Industrial Fund is a provincial-level government industrial guidance fund management company wholly owned by Shanxi Financial Holding Group Co., Ltd. With a registered capital of RMB 200 million, the company is mainly engaged in the establishment and management of provincial-level government investment funds.

Weimar Motor is dark horse in the field of new energy vehicles. In 2017, it was ranked as the No.1 new vehicle manufacturer in the "China Unicorn List" by the Ministry of Science and Technology. Up to now, it has raised a total of RMB 23 billion.

This investment has certain strategic significance for the development of new energy in Shanxi Province. Baidu led the C-round of financing, with Taihang Industrial Fund and Linear Venture participating. As of March 8, 2019, Weimar Motor has completed its RMB 3 billion C financing round, and the fund raised will be mainly used in user experience and technology development.

The Dentons legal service team completed legal due diligence on Weimar Motor, revised the transaction documents, issued a due diligence report and carried out other related work with rigorous, efficient and professional cross-regional and collaborative legal services. Their outstanding service capability was highly appreciated by the client and other participating agencies, adding another success story to our performance in the new energy industry.