The business model also greatly reduces operating costs and space requirements typically associated with running this type of business, making the car buying experience a lot more efficient for all stakeholders
HONG KONG (PRWEB) February 03, 2021
Summer Atlantic Capital is proud to announce our engagement with Upincar as its newest client. Upincar is at the forefront of transforming China’s Electric Vehicle (“EV”) and automotive industry by consolidating different brands and services into a single venue. Upincar has developed its brand by expanding its physical presence through franchising and flagship stores and strives to be the world's largest EV dealership. Currently, they have over 800 locations throughout China, Southeast Asia, and South America.
Upincar has successfully revolutionized automobiles’ sales through their unique business model, allowing customers the ability to create and customize their EVs on the spot. The customer’s choices regarding the vehicle’s body, color, upgrades, etc., are shown utilizing a sizable screen, allowing the customer to see a life-sized version of the EV they have created in-store. The vehicle that the customer has designed is then assembled at Upincars facility and delivered shortly after. Upincar also offers a range of related services, including access to their charging and quick in-and-out battery exchange and evaluation stations strategically located throughout China, financing programs, extended warranty, insurance coverage, and much more.
Upincar has transformed the car-buying experience by incorporating the latest technological advances and has streamlined operations in its domestic market while quickly gaining market share. This innovative business model can be replicated in other countries where car dealerships do not have these capabilities to greatly reduce personnel and inventory costs. Upincar is now looking for strategic opportunities abroad and has engaged Summer Atlantic Capital to explore expansion alternatives and capital market opportunities.
Sebright Chen, Chairman & CEO of Summer Atlantic Capital, said the following about this new alliance:
“We are very impressed with Upincar’s achievements and believe the business model has great potential to be replicated in other countries. A company with Upincar’s demonstrated success has the potential to access the US capital markets, where valuations for online car dealerships are at a premium. Upincar stands out from its competitors by assembling cars at their own facilities, allowing for a customizable car to be delivered very quickly compared to the industry average while simultaneously reducing expenses for car dealerships and franchise owners. Upincar also improves the car buying experience by eliminating sales pressure and providing fixed car prices, along with a one-stop-shop for financing, insurance, warranty, and more. The business model also greatly reduces operating costs and space requirements typically associated with running this type of business, making the car buying experience a lot more efficient for all stakeholders.”
About Summer Atlantic Capital
Summer Atlantic Capital is a Hong-Kong based entity with a sister company, Summer Atlantic China (our private equity group) based in China, and a North American subsidiary, Summer Atlantic US. We focus on discovering companies with advanced technologies that are beneficial to the Chinese market. We work with the owners of these technologies to structure JV partnerships with strategic Chinese entities or individuals that have expertise in the respective field. In addition, Summer Atlantic arranges for the necessary capital to finance the joint ventures, which could include direct participation by our sister company, Summer Atlantic China, private individuals, business entities, or even state-owned funds. Summer Atlantic evaluates the feasibility of these technologies and how they could potentially enhance the Chinese consumer while at the same time simultaneously adding GDP growth into the Chinese economy. Summer Atlantic takes an active role from the formation of the JV all the way up to and including operations and the development of an exit strategy for the JV’s shareholders. Summer Atlantic Capital consists of a growing core team of over 25 executives with C level experience across a wide range of industries interacting with some of the world’s largest corporations. Our Executive team prides itself on their proven track record and rolodex of relationships throughout industry and government. Summer Atlantic Capital US (Our US subsidiary) works with the developers of advanced Chinese technologies by helping them enter the US and European markets by identifying the best regulatory pathways, strategic partners and financing opportunities to ensure a smooth expansion strategy.
About YOUPIN Automobile Service Group Co., LTD – Upincar
YOUPIN Automobile Service Group Co., LTD or Upincar, is committed to building China’s largest vehicle integrated solution provider. Operating with over 800 sales locations worldwide Youpin automobile group, together with the main vehicle and battery manufacturers, supporting service providers, banks, and other industrial chain enterprises, has built an “intelligent sharing, network interaction” power exchange industry platform and established an ecological operation system. Upincar has completely transformed the traditional supply chain and operating model in the auto sales market through a technology-driven approach to revolutionize the retail experience of buying a car and associated services. Our 2021 sales forecast will capture almost 10% of the Chinese EV auto market, making us the world’s largest retail channel for automobiles.