NIO Capital Updates

 

▌NIO Capital's Portfolio Companies Honored by China Venture 

NIO Capital has won five of the 2023 CV Awards presented by China Venture, a Chinese media platform focusing on the country’s startup and investment industry. NIO Capital was named as one of the Top 100 Venture Capital Firms in China, Top 50 Chinese-funded Venture Capital Firm in China, Top 50 Direct Investors in China, Top 30 Investment Firms in China’s Carbon Neutrality Industry, and Top 30 Investment Firms in China’s Advanced Manufacturing Industry. In addition, their portfolio companies PCG Power and Newlink Group were among the Top 10 Investment Cases in China’s Carbon Neutrality Industry.      

 

▌Adair Lv Recognized as 2024 36 Under 36 Investors

Managing Director of NIO Capital Adair Lv has been named as one of the Waves 36 Under 36 Investors 2024 by 36Kr. The investors were selected based on their investment performance (70%) and peer review (30%). Joining NIO Capital in 2016, Adair Lv oversees investments in hard-core technologies and intelligent manufacturing, where he has invested and managed projects including Seyond, Hiway, Eacon, Enkris Semicondutor, SICHAIN Semiconductor, Jaguar Microsystems, and Black Sesame Technologies.    

 

Portfolio Updates

Financing Updates

▌TrunkTech Completes New Round of Funding

TrunkTech, a provider of L4 autonomous driving technology for trucks, secured an investment amounting to tens of millions of yuan. The raised fund will be used to accelerate the R&D and mass production of its core autonomous driving technologies and forward-looking products, facilitate the development of all-scenario intelligent transportation solutions, and support the exploration of domestic and overseas markets, fulfilling its strategic goal to create an autonomous driving freight network.

 

▌Autolink Expedites Series D Round of Funding

Autolink, a provider of smart cockpit software and hardware, has started its series D round of funding. The raised fund will be used to support the R&D and mass production of its new products and enhance its competence in global expansion. The shipment of Autolink’s smart cockpit domain controllers surpassed 600,000 in 2023, with production and sales volume hitting a record high. Intensifying its R&D in new products and technologies, Autolink will further explore the new generation of cross-domain control platform that integrates cockpit, driving and parking. 

 

Business Updates

▌Inceptio Technology Delivers Trucks to Huatai Logistics and Sees Commercial Mileage of Truck NOA Surpass 100m km

Inceptio Technology, a developer of autonomous driving technologies for heavy-duty trucks, delivered a batch of intelligent driving heavy-duty trucks to Zhejiang Huatai Logistics Co. Ltd. The trucks are the mass-produced Dongfeng Tianlong 6X4 model pre-installed with the intelligent driving system developed by Inceptio Technology.

 

The trucks come with the industry’s first hardware kit for intelligent driving, including LiDar, millimeter wave radar, high-definition camera, and autonomous driving computing platform. Huatai Logistics has purchased 40 intelligent trucks from Inceptio Technology since January 2024, boasting the largest intelligent driving heavy-duty truck fleet in the auto parts industry. 

Inceptio Technology’s Truck NOA has been installed in multiple brands and vehicle models. With a total commercial mileage of over 100 million kilometers, it has connected the seven core economic hubs across China, covered 83% of the country’s highway network, and assisted 1,864 drivers in real-world situations. 

 

 

▌TrunkTech Wins Approval to Test Intelligent Connected Truck Fleet in Beijing

TrunkTech, a provider of L4 autonomous driving technology for trucks, has received one of the first batch of licenses to test intelligent connected truck fleet in Beijing. TrunkTech will adopt the truck fleet model of “one pilot vehicle + five following vehicles" and test the autonomous driving technologies of the following. Starting from the road test, TrunkTech will gradually push forward the demonstrative application and pilot commercialization projects, with the aim to launch large-scale autonomous driving fleet to freight commodities. 

 

▌Pony.ai Gets Green Light in Beijing and Guangzhou

Autonomous driving technology company Pony.ai obtained the first license to test intelligent connected vehicles on highways and expressways in Guangzhou. With this license, Pony.ai is permitted to test one robotaxi model and one autonomous driving truck model on the 105 km test roads, which are the first batch of highways and expressways open for the test of intelligent connected vehicles in Guangzhou. 

Pony.ai is among the first batch of companies to test autonomous driving vehicles shuttling between Beijing Economic-Technological Development Area and Beijing South Railway Station. It is the first time for the capital city to allow autonomous driving tests in a core urban area, i.e inside a 5th Ring Road. 

Pony.ai has been approved to test the“1+N”autonomous driving fleet on road sections of Beijing-Tianjing-Tanggu Highway, which will facilitate the large-scale autonomous trucking freight of commodities. Previously, Pony.ai obtained approval from Guangzhou, and became the only company in China to test autonomous driving fleet in the country’s two top-tier cities. 

 

 

▌NIO Vehicles Empowered by SINPRO’s 4D Imaging Radar

NIO’s newly launched vehicle Onvo L60 carries the highly cost-effective 4D imaging radar SFR-2K produced by SINPRO, a provider of auto-grade environmental perception solutions. In addition to Onvo L60, SFR-2K is equipped on NIO ET9 and will become available on the models manufactured on NIO’s NT3 car platform. 

 

▌GuiZhou Geely Engine Goes Green with PCG Power

The 5MW photovoltaic power generation project for Guizhou Geely Engine Co. Ltd., built by comprehensive energy management service provider PCG Power, has successfully connected to the power grid. Within 25 years after completion, the project is expected to generate 9.94 million kWh of green electricity annually, which is equivalent to saving 1,203.3 tons of standard coal, cutting 3,415.77 tons of CO2 emission, and planting 160,000 trees every year.

 

▌ Autra Tech Rolls Out New Product with Seyond’s LiDar

Autonomous truck solution developer Autra Tech has launched the first batch of its intelligent driving logistics vehicles AutraOne, whose forward-facing sensor adopts the high-performing Falcon LiDdar made by Seyond, a leading provider of high-performance LiDAR sensors and solutions. With a laser wavelength of 1550nm, Falcon holds a technological edge, including the world’s leading ultra-high resolution, detection distance of up to 500 meters, and ROI (region of interest) dynamic focusing, which helps to achieve safe, reliable, high-level intelligent driving with“eyes and hands off”for the trunk road transportation. 

 

▌Black Sesame Technologies’ Huashan A1000 Chip Proves its Prowess

The Huashan A1000 chip, developed by Black Sesame Technologies who are a leader of intelligent vehicle computing chips, is one of the first high-performing autonomous driving chips based on China’s core proprietary automotive-grade intellectual properties. It offers a computing power of 58 TOPS (INT8) and fully supports L2 to L3 level autonomous driving capabilities. A single A1000 chip can handle the complete driving and parking functions, making it one of the most mature and widely selected integrated driving and parking platforms with single chip in the market.

 

▌Ambilight Expands Presence in New Car Models

Smart glass provider Ambilight’s EC smart dimming sunroof has been adopted in a wide range of new car models. The sunroof maintains a clear panoramic view while effortlessly modulating light intensity and hue, transitioning seamlessly from clear to deep darkness. Operating at voltages below 1.5V and blocking over 99.9% of UV rays, it achieves excellent heat insulation and sun protection.

 

 

▌Whale Launches AI-native Sales Empowerment Platform

AI marketing and sales operations platform Whale has unveiled the new “Sales Empowerment Platform” enabled by its Alivia large language model. 

 

 

▌BoCloud Plays Key Role in Creating Industry Standards

BoCloud, a provider of professional cloud computing services for enterprise clients, was deeply involved in the drafting of the technical architecture module of the Cloud Native Capability Maturity Model that was established as an industry standard by the Ministry of Industry and Information Technology in April. BoCloud provided a full-stack technical reference for the maturity assessment and implementation of cloud-native technology architectures.

BoCloud became one of the first members of the Computing Power Interconnectivity Research Group under the National Intelligent Computing Standardization Working Group. The research group has brought together over a hundred experts from industry, academia, and research in the fields of intelligent computing and interconnectivity, with the commitment to advancing the standardization of intelligent computing. 

 

Cooperations & Partnerships

▌Aulton New Energy Joins Partners to Electrify Vehicles in Kunming

Battery swapping solution provider Aulton New Energy has teamed up with Kunming Power Distribution Co., Ltd., Kunming Low-Carbon Investment Group Co., Ltd., and Kunming Kongtou City Resources Development Co., Ltd. by signing a“Strategic Cooperation Framework Agreement”, which officially launched the project to fully electrify public vehicles and build a battery swapping network for logistics vehicles in Kunming, Southwest China’s Yunnan Province. 

 

 

▌YKC Establishes Strategic Cooperation with Multiple Charging Pile Enterprises

Comprehensive energy management service provider YKC signed strategic cooperation agreements with multiple charging pile enterprises at the first Anhui (Hefei) Electric Vehicle Charging and Battery Swapping Infrastructure Ecological Services Conference. Going forward, YKC will deepen cooperation with charging pile enterprises in diverse fields to promote the use of platform tools, upgrade operational scenarios, procure financial services, and customize proprietary software.

 

Global Expansion

▌Newrizon Makes Forays into Middle East Market

Newrizon, a commercial EV manufacturer, and the UAE Ministry of Industry and Advanced Technology (MoIAT) reached a broad consensus in the capital Abu Dhabi on topics such as the introduction of Newrizon products into the UAE market, as well as the promotion of local energy diversity and industrial development. The ministry will actively coordinate with relevant departments and agencies to provide a range of preferential policies to facilitate Newrizon’s localization efforts.

Newrizon has signed a dealership and order agreement with Saudi Arabia’s largest light commercial vehicle dealer Al Yemni Group. With annual vehicle sales exceeding 20,000 units, Al Yemni Group boasts advantages in sales and after-sales service systems, with rich operational experience and extensive customer resources. The collaboration will bring Middle Eastern customers low-carbon, lower cost, smarter, and more comfortable products. 

Newrizon partners with UAE’s MHAO Group to explore the UAE electric commercial vehicle market. Established in 1946, MHAO Group is a diversified family conglomerate, with businesses exposure in automotive, transportation, beverages, technology, energy, textiles, and retail. MHAO Mobility focuses on investment and operation in automotive and related mobility services. This partnership will accelerate the adoption of electric commercial vehicles in the region.

 

 

▌EACON Links Arms With MACA to Accelerate Expansion in the Australian Market

China’s leading autonomous haulage solution provider EACON and MACA, a leading Australian mining contractor, signed a Memorandum of Understanding (MoU) at the end of 2023. Currently, EACON and MACA are actively pursuing the development and export of battery electric mining trucks and hybrid battery mining trucks into the Australian market, as well as introducing smart driving systems and solutions of EACON into the market.

 

 

▌AlphaESS Signs Strategic MoU with the Republic of Vanuatu

Chinese green energy solution provider AlphaEss successfully signed a MoU on the National Project Introduction with Vanuatu. The cooperation sets the stage for leveraging shared resources, technology, and innovation to leapfrog Vanuatu's green energy. Additionally, by introducing green technologies and projects, AlphaEss will become less dependent on fossil fuels to reduce energy costs and protect the environment. 

 

 

▌PCG Power Joins Hands with Saudi Arabia’s FAS Energy

China’s power generation solutions provider PCG Power teams up with Saudi Arabian solar giant FAS Energy to develop the new energy sector. The two sides jointly conducted a five-day on-site tour in Suzhou, Hangzhou, Xi’an, Guangzhou, and other cities in China, and held talks with local governments and prominent companies. In addition, these two companies signed strategic cooperation agreements with Qiantang District in Hangzhou and the Xi’an Economic and Technological Development Zone and planned to set up a joint venture in China.

 

 

▌SUNMAN Energy Unveils Its Lightweight Components at Solar & Storage Live Philippines 2024 Expo

Solar panel manufacturer Sunman Energy displayed its cutting-edge green solutions at the Solar & Storage Live Philippines 2024 Expo, including updated products like Dragonfly Series and SMF solar modules. With the use of self-developed polymer composite materials, the latest products of Dragonfly series are lightweight and glass free. The components and installation systems only weigh 4.1 kg/㎡, reducing the components’ weight by 40%.

 

 

Sustainability Practices

▌Aulton officially Joins China ESG Alliance

Chinese battery swapping solution provider Aulton has officially become a member of the China ESG Alliance, a coalition initiated by many well-known enterprises and institutions across industries. The alliance's mission is to seek the most valuable insights from a network of ESG experts and ecological resources to build responsible climate technology solutions to benefit humanity.

 

Since its inception, the alliance has welcomed members such as Microsoft, Lenovo, HONOR, Tencent, Luxshare Precision, Longi Green Energy, LinkedIn, Sunwoda, Danfoss, SF Express Group, CDP, among other prominent organizations, as well as the Shanghai Environment and Energy Exchange, a key domestic platform in China.

 

 

Honors & Awards

▌Hiway Technology Wins International Seal

Hiway Technology, a Chinese smart cockpit solution provider, has obtained the ASPICE CL2 certification issued by an internationally renowned third-party testing and evaluation agency VDA-QMC. This means that the software R&D of Hiway Technology has reached an international level and can meet the stringent product quality requirements for suppliers in the automobile industry.