Weilai plans to invest in lithium mining projects in Argentina, with an investment of more than 600 million yuan.

Weilai plans to invest in Greenwing Resources Ltd, an ore mining company headquartered in Australia, with a total amount of up to or more than 600 million yuan, according to the Daily Economic News. With the financing secured, Greenwing will accelerate the development of its San Jorge lithium project in Argentina.

Weilai's investment in Greenwing is divided into two parts: one is that Weilai will pay 12 million Australian dollars (about 55.3563 million yuan) to subscribe for about 21.8182 million Greenwing shares at a subscription price of 0.55 Australian dollars per share (placement). Upon completion of the subscription, Weilai will hold approximately 12.16% of Greenwing and a seat on the company's board of directors.

Second, Weilai also obtained some call options, the exercise price of which is expected to be between $40 million and $80 million (about 289 million to 578 million yuan). Based on the highest exercise option price, Weilai's investment in Greenwing will exceed RMB 600 million.

In response, Wei Lai said to the media,"We will evaluate and lay out the upstream related to the core components of intelligent electric vehicles to ensure long-term competitive advantage." "