Beijing Electric Vehicle Co., Ltd. announced that it has entered into a capital increase agreement with a new investor BAIC Motor Corporation Limited for the private placement of 208,000,000 shares at a price of CNY 2.56 per share for gross proceeds of CNY 532,480,000 on March 24, 2016. Pursuant to the transaction; the investor will acquire a stake of 6.5% in the company's issued and outstanding share capital, subject to the consideration and approval by shareholders at the general meeting of the company. The transaction has been approved by the board of directors of the company.

The company reported net loss before tax of (CNY 195,420,000), net loss after tax of (CNY 251,180,000), and net assets of CNY 1765,950,000 for the year ending December 31, 2015.