NIO Capital Updates

 

NIO Capital Leads Mavel’s Series A Round

 

Powertrain solution provider Mavel has raised tens of millions of dollars in its series A and series A+ rounds, led by NIO Capital. This funding will fuel Mavel's market expansion initiatives. Additionally, Mavel has secured a partnership agreement with NIO, a prominent electric vehicle manufacturer, to manufacture auto parts for their next-generation platform. Mavel also has plans to supply its top-notch products to various automakers worldwide. With a dedicated technical team devoted to researching and developing high-speed, high-power density electric drive systems consisting of motors, motor controllers, and transmission systems for over 24 years, Mavel has earned a stellar reputation, having served numerous renowned automakers like Aston Martin.

 

▌NIO Capital and Portfolio Companies Visit Amazon Web Services

 

NIO Capital executives and nearly 40 high-level executives from nine portfolio companies visited Amazon Web Services. These companies are global intelligent chassis solution provider BIBO, enterprise cloud computing service provider BoCloud, automotive chip developer Meritech Integrated Circuits, electric vehicle charging solution provider Taotao Charge, autonomous mobile robot manufacturer Standard Robots, digital marketing service provider Whale, energy storage solution and service provider AlphaESS, mixed reality glasses developer Xreal, and luxury electric SUV manufacturer Zhixing.

 

These visitors learned from experts and mentors of Amazon Web Services and tried tools such as Amazon's Flywheel and Working Backwards Workshop to improve their innovation and management capability.

 

▌NIO Capital CEO Club Trains Portfolio Companies Founders on Building Their Core Team

 

Founders of NIO Capital's portfolio companies attended a seminar on how to build their core team. This seminar was called 2023 NIO Capital CEO Club Startup Clinic Vol 1, the first event since the community upgraded its training courses. At this session, NIO Capital CEO Club lecturers aimed to help founders solve actual problems and focused on topics including team building, cooperation, development, and replacement.

 

Portfolio Updates

 

▌NIO Capital Portfolio Companies Highlighted by China Entrepreneur

 

Innovusion, a leading developer of image-grade LiDAR system, and Ambilight, a smart glass producer, have been included in the 21 Future Stars, which feature 21 high-growth companies selected by top business magazine China Entrepreneur.

 

CIX Technology, a chip startup building computer CPUs based on the Arm architecture, Yuan Planet, an auto parts recycling company, and Trunk Tech, a Level 4 autonomous trucks developer, are listed in the 2023 100 Rising Stars published by the magazine. This ranking aims to highlight fast-growing companies expected to lead their industry.

 

Mobility and Logistics

 

▌ClearMotion Starts to Build First Plant in Jiangsu

 

ClearMotion, the leading software-defined chassis company revolutionizing the in-cabin experience, signed a deal to construct a plant in Changshu, Jiangsu Province, with the full support of NIO Capital, a new milestone after the company landed its project in the city in January. NIO Capital led ClearMotion's $39 million financing last year and participated in a new round this year.

 

▌Eacon to Co-develop 300 Autonomous Mining Trucks for Lingong Heavy Machinery

 

Eacon, an autonomous driving technology developer and operator focusing on mining areas in China, cemented a deal to co-develop 300 EL100 trucks for Lingong Heavy Machinery Co., Ltd. The company has handed over 102 unmanned trucks to Lingong so far. Currently, Lingong has a total of 150 autonomous mining trucks in operation.

 

▌Momenta Helps GM China Launch Autonomous Vehicle Road Testing in Shanghai

 

General Motors China recently obtained a permit for its Level 4 autonomous vehicles (AVs) to conduct road testing in Shanghai, representing a milestone in the company's cooperation with Chinese AV startup Momenta.

 

The Shanghai Intelligent Connected Vehicle (ICV) Road Test Permit enables GM to put highly automated vehicles on China's public roads of designated test zones for the first time. They will be equipped with the self-driving solutions Momenta has developed with GM's local team in China for the Chinese market, in adherence to all applicable laws.

 

The AV technology will be put to the test on a retrofitted lineup of Cadillac LYRIQ all-electric SUVs.

 

▌Inceptio to Sell 700 Autonomous Trucks to Logistics Firms

 

Autonomous truck producer Inceptio has been expanding fast in the logistics sector recently. The company, teaming up with Dongfeng Trucks, signed a strategic cooperation deal with courier STO Express to sell 500 autonomous trucks. In addition, Inceptio, allying with Sinotruk, signed a deal with ZTO Express, another courier company, to sell the company 200 trucks.

 

Moreover, Inceptio has also formed a strategic cooperation deal with Deppon Express. The company mass-produced autonomous driving trucks in 2021. Its Navigate on Autopilot (NOA) system, a Level 2 autonomous driving feature that can function on all highways in China to assist drivers, has gained recognition from logistics companies due to safety and labor costs as well as energy efficiency. Inceptio's NOA has covered more than 50 million kilometers with zero accidents.

 

▌Pony.ai and Toyota to Form Joint Venture to Advance Mass Production of L4 Autonomous Vehicles

 

Pony.ai, a leading global autonomous driving company, held a joint venture signing ceremony with Toyota Motor (China) Investment Co., Ltd. (TMCI) and GAC Toyota Motor Co., Ltd. (GTMC).

 

The three parties announced that they will form a joint venture to advance the future mass production and large-scale deployment of fully driverless robotaxis.

 

The joint venture company will be established in 2023, with an estimated investment of more than RMB 1 billion ($139.2 million). GTMC will provide Pony.ai with Toyota-branded battery electric vehicles, which are equipped with Toyota's vehicle redundant systems that are suitable for L4 autonomous driving development. The vehicles will be fitted with Pony.ai's advanced autonomous driving technology and run on Pony.ai's robotaxi network platform, PonyPilot+.

 

New Energy

 

▌Dongfeng Passenger Vehicle Company Delivers 1,000 Battery-swap Taxis Co-developed With Aulton

 

Dongfeng Passenger Vehicles Company delivered 1,000 battery-swap electric taxis in Wuhan, Hubei Province. These taxis were co-developed by Dongfeng and battery swap service provider Aulton, allowing drivers to change the battery in 20 seconds.

 

These two companies have put 3,000 such taxis, supported by 28 battery-swap stations run by Aulton since signing a strategic cooperation deal in 2021, into operation in Wuhan.

 

▌Aulton Teams up with Anhui Province Energy Group

 

Aulton signed a strategic cooperation deal with State-owned Anhui Province Energy Group Company Limited, involving charging and battery-swap facility building, power battery standardization, battery financing, V2S2G, virtual power plant, and echelon usage of batteries.

 

▌PCG Powers Fujian Minhou Minxing Weaving Company, Builds Solar Project with PhiChem

 

PCG Power, an energy management and service provider, and Fujian Minhou Minxing Weaving Company have finished the first phase of a solar project and connected it to the grid.

 

The 1.92 MW phase one project adopts Building-integrated photovoltaics, which differs from Building-attached PV. The project generates solar electricity and works as a structural part of the building, which can also realize double waterproofing and delay the aging of the original colorful steel tile. Within 25 years after the completion of the project, it is estimated that a total of 47.86 million kWh of renewable electricity will be provided to Minhou Minxing. Compared with thermal power of the same volume, the project will save 575 tons of standard coal and reduce 1,507 tons of carbon dioxide annually.

 

PCG Power and PhiChem have worked together to complete the Anhui Jingkai project, the first distributed power station plan of PCG Power in Anhui Province

 

The project, connected to the grid, can provide 1.2 million kWh of green electricity for Anhui Jingkai Electronic Materials Co., Ltd. on average every year.

 

After the completion of the project, the temperature and air conditioning power load at the plant will significantly fall, playing an important role in energy saving, emission reduction and sustainable development of Anhui Jingkai.

 

▌Sunman Helps Budweiser Launch Its Solar Project to Cut Emissions

 

Sunman, a developer of innovative solar panels, has supplied its products to beverage giant Budweiser. Budweiser's 4.23 MW solar project in Wuhan, Hubei Province, powered by Sunman's lightweight components, can generate 4.5 million kWh of power and reduce carbon dioxide emissions by about 4,486 tons annually.

 

This project is currently the largest light photovoltaic project of Budweiser Asia Pacific. Sunman's products will later be applied by the beverage firm in Suqian, Jiangsu Province, Harbin, Heilongjiang Province, and Foshan, Guangdong Province.

 

▌YKC Charging Allies With Teld, StarCharge to Build Interconnected Networks

 

YKC Charging, an electric vehicle charging and operation platform, and two other charging service providers Teld and StarCharge have decided to build interconnected networks to bring convenience to drivers, boost the healthy development of the industry and help China achieve the carbon neutrality and carbon peak goal.

 

▌HyperStrong Forms Strategic Cooperation With CATL

 

HyperStrong, a provider of battery management systems designed to improve the battery for electric vehicles and energy storage applications, has formed a strategic cooperation deal with CATL, the largest EV battery supplier in the world.

 

The two companies will cooperate on energy storage, light storage and charging, intelligent manufacturing, and other fields. Under this deal, Hyper Strong will buy at least 50GWh batteries from CATL in the next three years.

 

▌Ronbay Technology to Leverage Overseas Plants to Boost Sales

 

Ronbay Technology, a lithium battery cathode materials producer, stated that the company would in the future rely on local factories in overseas markets such as South Korea, Europe, and North America to meet the demand for more internationally renowned battery and new energy automobile manufacturers when announcing its 2023 globalization strategy.

 

The company aims to enlarge the proportion of its overseas sales and become a global cathode materials giant.

 

Ronbay held the groundbreaking ceremony for the second phase of the lithium battery cathode material project in Chungju, South Korea, this month.

 

In the JS Project Phase II, the company will build a production line with an annual output of 40,000 tons of cathode materials, which is expected to be put into operation by the end of next year. After completing Phase II, the JS project will boast an annual output of 60,000 tons of ternary lithium battery cathode materials.

 

At the same time, in the second phase of the project, the company will also build a production line of 20,000 tons of lithium manganese iron phosphate battery cathode materials, which will be the first production line of its kind out of China.

 

▌NewLink and NaaS Reach Strategic Partnership with CR Capital MGMT to Accelerate New Energy Infrastructure Development

 

NewLink, an integrated energy service platform, and its subsidiary NaaS signed a strategic partnership with CR Capital MGMT, a venture capital arm of China Resources Group, synergizing their distinct proficiency in capital and asset management as well as energy services.

 

This collaboration sets the stage for joint initiatives encompassing the incubation, investment and operationalization of digital and intelligent applications within the realm of new energy. Furthermore, the two entities will align on the construction of integrated energy ports, the orchestration of new energy infrastructure projects, and the innovative securitization of new energy assets.

 

Newlink's Subsidiary NaaS to Acquire Swedish Charging Firm

 

NaaS, a subsidiary of integrated energy service platform Newlink, signed a deal to acquire Charge Amps AB, a Sweden-headquartered EV charging infrastructure provider, a major move in the company's overseas expansion.

 

Charge Amps offers a full suite of EV charging hardware and charge point management systems, covering diverse AC use cases at work, home, and destinations. The company enjoys a 22% share in its home market and boasts distribution channels in 13 European countries, including Norway, Finland, the Netherlands, the United Kingdom, Spain, and Germany.

 

Frontier Technology

 

▌Convenient Power Closes Strategic Fundraising

 

Convenient Power, an integrated circuit chip design company, has closed a strategic fundraising round, bagging hundreds of millions of yuan.

 

The new funds will be spent on chips R&D, including the automotive power management chip.

 

After the last round, Convenient Power has expanded its product lineup, from providing only a wireless charging chip to supplying a series of other chips designed for power management. The company has also covered both the consumer electronics and automotive sectors, serving clients both at home and abroad, and has made great breakthrough in the automotive sector.

 

▌CIX Technology Teams Up With Arm China

 

CIX Technology, a chip startup building computer CPUs based on the Arm architecture, signed a memorandum of cooperation with Arm China.

 

The two companies will deepen cooperation in the fields of Arm PC, AI, and development board around the end-edge-cloud intelligent computing solution. They will try to commercialize the Arm v9 architecture-based desktop development board and expand the Arm ecosystem.

 

The development board brings the latest desktop Arm SoC platform to developers and the operating system community and accelerates their efforts in developing both software and hardware for Arm PC and intelligent cockpit products.

 

▌Ambilight Continues to Supply BYD With Smart Glass

 

Next-generation electrochromic (EC) smart glass manufacturer Ambilight has provided its products to a second vehicle model of BYD.

 

The vehicle, with a canopy made of Ambilight’s EC dimming and heat-insulating glass, has premiered too.

 

▌Jaguar Microsystems and ArcherOS Roll Out Cloud Computing Solutions

 

Jaguar Microsystems, a new-generation DPUs (data processing units) developer and advanced silicon solutions provider for modern data centers and other AI applications, has teamed up with ArcherOS, a virtualization solution provider.

 

The two companies rolled out a flexible bare-metal virtualized and pooled cloud computing solution based on DPU, which can realize flexible server deployment and improve the overall utilization rate of the server.

 

Technical teams of the two companies leveraged their deep understanding of cloud computing products and fully took account of the user scenarios, market demand, and technology trends before rolling out this complete solution.

 

▌Innovusion to Supply AutraTech

 

Innovusion, a leading developer of image-grade LiDAR system, will become a supplier for autonomous driving firm AutraTech to improve efficiency and cut costs in the long-haul logistics sector.

 

▌United Winners Unveils Cutting-edge Products at Guangzhou Solar Show

 

United Winners, a provider of laser welding machines and industrial automation supplies, launched its brand-new photovoltaic glass laser scribing machine and a series of solar battery solutions at the 2023 Solar PV & Energy Storage World Expo held in Guangzhou.

 

The machine can further simplify the technological process, drill, and scribe with the laser faster, more accurately and consistently. It can thus avoid problems of microcracks and chipping while improving the output and reducing the defective rate.