NIO Capital Updates

 

▌NIO Capital Promotes Yao LI to Partner

Yao Li was promoted to Partner in the beginning of 2024. Yao joined NIO Capital in 2016 and has been responsible for investments in the Mobility and Logistics sector. Under his leadership, the team has delivered outstanding results in their investment domain. Notable investments include Pony.ai, Momenta, ClearMotion, Tuhu, Uxin, NEWLINK, TrunkTech, Ambilight, Newrizon, and Yunchuang Zhixing.

 

 

Portfolio Updates

Financing Updates

▌Eacon Secures Over RMB 300 Million in Series C++ Funding

Autonomous haulage solutions provider Eacon has raised more than RMB 300 million in its Series C++ funding, which will be used to support the R&D of technologies and products and facilitate the management of autonomous driving operations. Coupled with its Series C and C+ fundings, Eacon has completed over RMB 700 million of equity financing in the past six months. The company ranks first in the world in terms of the number of mining trucks in operation and the size of the autonomous driving fleet, which are the key indicators in the industry.

 

Business Updates

▌Newrizon Delivers New Energy Light Trucks

Newrizon, a manufacturer of electric commercial vehicles, delivered the 20 new energy logistics vehicles leased to Shanghai Lingqiang Logistics Co., Ltd. to assist the latter’s urban freight distribution in Shanghai. The two sides will take the opportunity to deepen their cooperation, eyeing integrated utilization and effective operation of the new energy logistics vehicles.

 

 

▌Inceptio Technology Provides First Batch of Intelligent Driving Heavy-duty Trucks to STO Express

Inceptio Technology, a developer of autonomous driving technologies for heavy-duty trucks, teamed up with automaker Dongfeng Commercial Vehicle Co., Ltd. to deliver the first batch of intelligent driving heavy-duty trucks to express delivery company STO Express, which will use these trucks in its key freight routes in East, South and North China.

 

▌TrunkTech Passes On-site Verification in Pilot Project on Self-Driving Road Freight  

TrunkTech, a L4 autonomous driving technology and service provider, passed the on-site verification on the Beijing-Tianjin-Tanggu Highway in a pilot project that aims to enable autonomous driving for road freight between Tianjin Port and Majuqiao Logistics Park in Beijing. TrunkTech is the only company to provide self-driving truck fleet in the pilot project, thanks to its self-developed TRUNK CAFC technology, a formation control method for Internet-connected self-driving truck fleet that can operate three to five intelligent trucks in a fleet. 

 

 

▌PCG Power Helps Shaanxi HanDe Axle Go Green

The 4.417MW rooftop distributed photovoltaic project of vehicle axle system provider Shaanxi HanDe Axle was successfully connected to the grid. Built by PCG Power, a comprehensive energy management service provider, the project is likely to generate 112.90 million kWh of clean energy in 25 years, which equals to cutting of coal consumption by 1,157.8 tons per year and the reduction of CO2 emissions by 3,519.37 tons per year, or the planting of 180,000 trees annually. The project will push forward HanDe Axle’s switch to green power, optimize its energy mix, and slash its greenhouse gas emissions.

 

 

▌Aulton New Energy Launches World’s Fastest Battery Swapping Station for Light Trucks

Battery swapping solution provider Aulton New Energy debuted its 30-Second Flash Battery Swapping Station for Light Trucks, the fastest battery swapping station for commercial vehicles in the world. The station adopts the company’s unique buckle-on-chassis battery swapping technology, which passed 10,000 comprehensive reliability tests on safety operations in 2023. 

 

▌Black Sesame Technologies Empowers Intelligent Driving with Huashan-2 A1000 Chips

The first electric sedan eπ007 of Dongfeng YiPai, the new energy brand of Chinese automaker Dongfeng Motor, is equipped with the automotive grade chip Huashan-2 A1000. Developed by Black Sesame Technologies, a leader of intelligent vehicle computing chips, the chip’s integrated parking and driving domain controlling platform is backed by the 58 TOPS of computing power, which enables advanced driver assistance functions such as high-speed Navigate on Autopilot (NOA) and LAPA over-the-horizon memory parking.

 

Cooperations & Partnerships

▌EVTECH Reaches Strategic Cooperation with NIO

EVTECH, a leading supplier of core components for new energy vehicles, has signed a strategic cooperation agreement with NIO to jointly develop and manufacture NIO’s STEMYoung high-voltage architecture platform. The two parties will develop the platform-based intelligent power units (IPUs), which will allow them to share core components, improve product development efficiency, and reduce product costs. Compatible with multi-brands and multi-platforms, the Young IPUs are scheduled to power vehicles under NIO’s current and new brands in 2025. 

 

 

▌Seyond Enters into Cooperation with NVIDIA

Seyond, a leading provider of high-performance LiDAR sensors and solutions, announced collaboration with NVIDIA. Seyond's cutting-edge LiDAR solutions will thus be integrated within the NVIDIA DriveWorks and NVIDIA Omniverse platforms. As part of this collaboration, NVIDIA's GPU hardware will be used alongside Seyond's LiDAR to process point cloud data quickly and accurately for improved autonomous driving capabilities. Seyond looks to leverage the collaboration to transform the way autonomous vehicles are designed, developed, and tested. 

 

 

▌PCG Power Joins Hands for Greener Tomorrow

PCG Power has joined hands with new energy industry solutions provider Nahui New Energy Technology and building material manufacturer Center Int Group to cooperate in the field of low-carbon, green industry parks and rooftop building integrated photovoltaic (BIPV) systems. 

The world's largest supplier of raw milk, China Youran Dairy Group, saw its 5.7MW distributed photovoltaic project connect to the grid. The project, developed by PCG Power, is estimated to generate 5.5 million kWh of green electricity within 25 years after completion. Compared with a coal-fired power plant of the same generation capacity, the project will save 1,678 tons of standard coal and cut the CO2 emission by 4,396 tons per year, equivalent to planting 240,000 trees per year.

 

Sustainability Practices

▌YKC Partners with IICT to Drive Green Mobility

Comprehensive energy management service provider YKC and smart transportation solutions provider IICT signed a letter of intent to provide integrated, smart AI services in the fields of vehicle charging, parking, and pick-up. The two portfolio companies of NIO Capital plan to focus on new energy charging, photovoltaic energy storage and smart parking services that spread to counties and even towns across the country. They also intend to offer efficient energy management services for new energy infrastructure at the city level. 

 

 

Global Expansion

▌Pony.ai Expands Global Footprints

Chinese self-driving startup Pony.ai has partnered with South Korean tech firm GemVaxLink to promote autonomous driving technologies and applications in South Korea. The two companies will establish a joint venture in Seoul, the South Korean capital city, within the year. They also plan to co-build an autonomous driving service fleet in Seoul at the first stage and explore more self-driving opportunities in South Korea. 

Luxembourg and Pony.ai signed a memorandum of understanding (MoU) to advance autonomous mobility in the country. With the support of Luxinnovation, a Luxembourg national innovation agency, and local stakeholders, Pony.ai intends to set up a regional hub in Luxembourg, which will focus on the exploration and R&D of cutting-edge autonomous driving technology. Pony.ai will also leverage the regional hub to provide tailor-made autonomous driving solutions for the European market and local customers. 

 

 

▌Ronbay Technology Allies with S. Korean Battery Maker

Chinese new energy material producer Ronbay Technology and South Korean battery maker SK On agreed to deepen their cooperation on cathode materials for ternary lithium and lithium manganese iron phosphate (LMFP) batteries. Subject to the outcome of their cooperation, which will go beyond technical cooperation, product development and sale, SK On and its downstream clients will introduce Ronbay Technology’s materials into their respective products, which will boost the Chinese company’s exposure to the power and energy storage markets in Japan, South Korea and the United States.

 

▌AlphaESS Exhibits Latest Products in Australia

Battery storage systems provider AlphaESS showcased its SMILE-G3 series residential energy storage systems at the Smart Energy Conference & Exhibition in Australia. With multiple power range solutions, the SMILE-G3 series products feature up to 200% PV Input, maximum input current of 15A, high tension battery system, and high energy conversion efficiency, which increase the proportion of self-consumed PV electricity and provide stable, reliable, and green power supply.

 

 

▌Sunman Energy Shines at Industry Expos in the Netherlands and Africa

Solar panel manufacturer Sunman Energy presented it latest Dragonfly PV module at the largest solar energy trade shows in the Netherlands and Africa, namely, the Solar Solutions Amsterdam 2024 and Solar & Storage Live Africa 2024 in Johannesburg of South Africa. The 520W Dragonfly PV module plus the pre-integrated mounting weighs 4.1kg/m2, 60% lighter than equivalent conventional glass modules.  

 

▌Standard Robots Attends MODEX 2024

Industry robot maker Standard Robots attended the MODEX 2024 in Atlanta in the U.S. state of Georgia. As one of the largest material handling, logistics and supply chain shows in North America, the event brought together exhibitors and visitors from more than 140 countries and regions, including the U.S., China, Germany, Denmark, Argentina, Australia, Brazil, Canada, Finland, and Sweden. 

 

▌CALB Displays Products in Singapore

CALB, a comprehensive energy operation system provider, displayed multiple battery cells, modules, and pack systems at the Asia Pacific Maritime (APM) 2024 in Singapore. The company’s self-developed power battery products, which can be customized for diverse marine battery systems, have passed the China Classification Society (CCS) certification and the DET NORSKE VERITAS (DNV) certification, the first Chinese battery system platform solution to obtain the DNV certification.

 

 

▌United Winners Participates in Industry Shows at Home and Abroad

United Winners, a supplier of laser welding equipment and intelligent manufacturing solutions, attended the 18th LASER World of Photonics China in Shanghai. At the event, the company demonstrated the application scenarios of its comprehensive “laser welding + intelligent manufacturing” processing solutions in fields of new energy vehicles, consumer electronics, semiconductors, hydrogen fuels and sensors. 

United Winners presented a series of intelligent manufacturing solutions for power batteries at the India International EV (IIEV) Show 2024 in Chennai. A professional expo of electric vehicles in India, IIEV Show is also one of the most influential gatherings of the electric vehicle industry in Asia.

United Winners showcased its latest tech achievements and intelligent manufacturing solutions in the fields of power battery energy storage and hydrogenic energy at the China Energy Expo China (CEEC) 2024 in Beijing.

 

Honors & Awards

▌XREAL Wins Recognition for Innovation in AR, VR

AR glasses designer and manufacturer XREAL was named one of the Most Innovative Companies in augmented reality (AR) and virtual reality (VR) by Fast Company. Fast Company applauded XREAL’s efforts to bring mixed reality toward the mainstream by adding it to such familiar devices as smartphones, computers, tablets, and game consoles. XREAL was reportedly the leader in the global AR market in 2023, as it ranked first in terms of sales and captured 45.2% of the worldwide market. 

 

 

▌Momenta’s Intelligent Driving System Safeguards Automotive Safety 

A car model equipped with the IM AD intelligent driving system received the highest G-rating in all the 12 intelligent safety assistance tests, such as automatic emergency braking (AEB) and blind spot detection (BSD), according to an automotive safety evaluation released by China Insurance Automotive Safety Index (C-IASI Index). The Straight G performance consolidated the car model’s leading position in the industry in terms of active safety, thanks to the IM AD intelligent driving system developed by autonomous driving startup Momenta.

 

▌SINPRO and NXP Win Tech.AD Europe Award

SINPRO, an auto-grade environmental perception solutions provider, and its partner NXP Semiconductors, won the 2024 edition of the Tech.AD Europe Award for their outstanding efforts to bring AD & ADAS to the next level with their industry leading 4D imaging radar.  Tech.AD Europe Award honors extraordinary projects in the automotive industry and celebrates exceptional solutions & innovations. Based on NXP's latest S32R41 radar processor, SINPRO’s SFR-2K is a two-chip cascaded 4D imaging radar that optimizes sensing performance while offering cost advantages.

 

▌Whale Obtains Top Certification

Online AI marketing and sales operations platform Whale has obtained the Capability Maturity Model Integration (CMMI) Level 5 Certification. Representing the most advanced software engineering approaches in the world, CMMI certifications are the highest-level and hardest-to-win recognitions in the global software industry, as they are viewed as the authoritative assessments of standardization, regularization, and maturity of software companies.