UCAR, a conglomerate with a focus on smart mobility and the entire automotive chain, secured more than 7 billion yuan (1.02 billion US dollars) of strategic investment in a new financing round, the company's Chairman and CEO Lu Zhengyao told NBD in an interview on Wednesday. 

On Tuesday, the company said in a statement that it raised 4.6 billion yuan (668.60 million US dollars) in funding from four institutions - Shanghai Lianyin Venture Capital Co., Ltd. (a subsidiary of China UnionPay), AXA SPDB Investment Management, Shanghai Guxin Investment Company, and CICC National Venture Capital Guide Fund for Emerging Industries initiated by the National Development and Reform Commission and Ministry of Finance. 

As for the big gap, Lu explained that the investment of another strategic investor is subject to regulatory approval. 

The money raised this time will be used to boost the development of maimaiche.com, UCAR's automotive e-commerce platform, covering outlet construction, marketing, hiring, and vehicle procurement. 

Meanwhile, the investment is expected to bring coordinative effects to the company's car rental, car on demand, and automotive finance business.  

Lu also revealed that in addition to digging deep into aftermarket, UCAR will be open to new possibilities such as car manufacturing.

Email: lansuying@nbd.com.cn