NIO Capital Updates

▌NIO Capital’s Managing Director Maggie Ye Shares Insights on China’s Transition to Green Transportation

NIO Capital’s Managing Director Maggie Ye attended the Ecosperity Conversations session jointly held by Ecosperity, the Singaporean investment firm Temasek's key platform for global engagement and advocacy in the sustainability space, and UBS. Experts from the energy, aviation and financial industries shared their views on the topic of Driving Asia's Transition to Green Transportation at the gathering, where Maggie showcased China's transformation towards green transportation, depicting the growth and evolution of the nation's new energy vehicle market.

 

 

▌NIO Capital CEO Club Coaches Portfolio Companies to Win Trust in International Expansion

NIO Capital CEO Club invited experts from FGS Global, a global strategic advisory and communications consultancy, to delve into the themes of Global and Macro Landscape, Going Global: New Strategies and Branding, and IPO, Investors & Media Relationships. The event is part of NIO Capital CEO Club’s endeavor to empower portfolio companies to unlock overseas opportunities spanning Europe to Middle East. Addressing pivotal challenges that would profoundly impact companies’ development, these initiatives help portfolio companies to grab the global industry trends, understand the potentials and characteristics of the local markets, speed up business expansion and tech innovation, and ultimately, achieve development in the long run. 

 

Portfolio Updates

 

IPO Updates

 

▌Black Sesame Technologies Goes Public in Hong Kong

Black Sesame International Holding raised HK$1.04 billion (US$133 million) in its Hong Kong IPO, becoming the first Hong Kong-listed company specialized in AI chips for intelligent vehicles. Founded in 2016, Black Sesame is a leading provider of auto-grade computing system on a chip (SoC) and SoC-based solutions for intelligent vehicles. The company forged strategic alliances with over 49 original equipment manufacturers (OEMs) and tier-one suppliers as of June 4, 2024. As its first investor from the automobile industry, NIO Capital led the company’s Series A+ funding round in 2017.

 

 

Business Updates

 

▌Inceptio Technology Delivers 400 Intelligent Heavy-duty Trucks to ZTO Express

Inceptio Technology, a developer of autonomous driving technologies for heavy-duty trucks, collaborated with Chinese automaker Dongfeng Trucks to deliver a record number of 400 Dongfeng KX trucks to Chinese express delivery company ZTO Express. These trucks, equipped with multiple industry leading technologies, including Inceptio Technology’s intelligent driving system, provide a powerful, economical, safe and comfort experience for mid-to-long range transportation. Inceptio Technology’s intelligent driving system has empowered intelligent heavy-duty trucks to traverse 130 million kilometers safely, and its navigate-on-autopilot (NOA) system has covered trunk highways across the country. 

 

 

▌SINPRO Rolls Out Self-developed Auto-grade 4D Imaging Radar

SINPRO, an auto-grade environmental perception solutions provider, rolled out its self-developed 4D imaging radar designated as SFR-2K. The mass production of SFR-2K signals the wide application of 4D imaging radar in real world scenarios. SINPRO’s capability to scale up can be attributed to the standardized and modular design of its fully automated production line, plus the company’s rich mass-production experience and the mature supply chain of the vehicle-borne radar industry. 

 

 

▌Pony.ai Permitted to Test Intelligent Connected Vehicles in Shenzhen

Autonomous driving technology company Pony.ai became the first to obtain the permit to test intelligent connected vehicles on highways and expressways in Shenzhen. With this permit, Pony.ai can test its Robotaxi service on the city’s Guangzhou-Shenzhen Coastal Expressway, Nanping Expressway and Shuiguan Highway. 

 

▌TrunkTech Participates in Pilot Project Honored by Ministry of Transport

A pilot project on autonomous-driving road freight between Tianjin Port and Beijing Majuqiao Logistics Park was hailed as an exemplary model for the transportation and logistics industries by the Ministry of Transport of China. This accolade stems from the project's impact in slashing operational costs and elevating both quality and efficiency standards within the industry. It is China’s first commercial logistics project that embraces vehicle-infrastructure cooperated autonomous driving on inter-provincial/municipal trunk roads. Led by China Merchants Expressway Network and Technology, the project has attracted several participating companies, including TrunkTech, a provider of L4 autonomous driving technology for trucks.

 

▌ConvenientPower Obtains AEC-Q100 Certification for Automotive LED Drivers

Chinese analog and mixed-signal IC design company ConvenientPower became the first in the industry to receive the AEC-Q100 Certification for automotive LED drivers. The two products, CPSQ5352 and CPSQ5453, are the first homegrown automotive LED drivers deployed to mass-produced vehicles, and they also qualified ConvenientPower as a designated supplier to multiple OEMS. The AEC-Q100 standard is a set of rigorous requirements and tests that electronic components must pass to ensure their suitability for use in automotive applications.

 

▌CALB Releases Full Scenario Products

Comprehensive energy operation system provider CALB debuted three series of new products alongside a solid-state battery at the 2024 CALB Global Ecosystem Conference in Chengdu, Sichuan Province. The solid-state battery, named Wujie (meaning unbounded in Chinese), boasts an energy density of 430wh/kg and battery capacity of over 50Ah, demonstrating the company’s breakthroughs in key battery parameters, such as operating pressure, life, and power. The battery is projected to hit the automotive market in 2027. Moreover, the Patent Protection Association of China inaugurated its technical committee on lithium battery, which was initiated and established by CALB, at the conference. 

 

Cooperations & Partnerships

 

▌AlphaESS Teams up with Dongfang Electric Smart Solar Power

Solar energy storage solution and service provider AlphaESS reached an intent of cooperation with Dongfang Electric Smart Solar Power, the solar energy arm of Chinese power generation equipment producer Dongfang Electric Corporation. The alliance will see both entities leverage their respective strengths in tech R&D, market expansion and industry chain integration, aiming to create a more complete industry chain ecosystem within the new energy sector. 

 

 

▌PCG Power Starts New PV Project for Home Appliance Maker Haier 

Comprehensive energy management service provider PCG Power embarked on an 8MW rooftop distributed photovoltaic (PV) project for the Haier Industrial Park in Wuhan, Hubei Province. The new benchmark project came after PCG Power’s 5.99MW distributed photovoltaic project for Dalian Haier Air Conditioner in Liaoning Province. The Wuhan project is expected to generate 193.30 million kWh of clean electricity within 25 years upon completion of construction. Environmentally, it will save 3,092.77 tons of coal and cut the CO2 emission by 7,708.74 tons per year, which is equivalent to planting 421,300 trees annually.

 

 

Sustainability Practices

 

▌PCG Power Unveils ESG Showroom in Beijing

Comprehensive energy management service provider PCG Power premiered its environmental, social, and governance (ESG) showroom in Beijing, revealing the company's commitment to new energy initiatives and its dedication to ESG principles. The showroom not only illustrates the development trends and application scenarios of new energy technologies, but also demonstrates PCG Power’s business solutions and achievements.

 

 

Honors & Awards

▌BIBO and Yuan Planet Recognized in Forbes Asia 100 To Watch 2024 List

Chinese intelligent chassis solution provider BIBO and used car component supplier Yuan Planet were named to the Forbes Asia 100 To Watch 2024 List. Spotlighting emerging companies and startups in Asia-Pacific, the list weighs factors such as impact on and contribution to their industry and region, market fit, promising business model, innovation, track record of consistent revenue growth and the ability to attract funding. Companies from 16 countries and territories are represented on this year’s list, operating in a total of 10 industries, such as enterprise technology and robotics, finance, manufacturing and energy. 

 

▌NIO Capital Portfolio Companies Honored as Future Stars and Rising Star 100

Chinese solid state battery supplier WELION New Energy was named as one of the Future Stars – 21 High Growth Innovative Companies of 2024 by Chinese business magazine China Entrepreneur, while PCG Power, CIX Technology and Huixi Technology, which is also known as Rhino, were among the Rising Star 100 laureates. China Entrepreneur's Future Stars list, now in its 24th consecutive year, has showcased a total of 504 companies thus far. Its 2024 Rising Star 100 list focuses on startups with a valuation of over RMB500 million or those who have secured angel round funding and beyond. 

 

▌Pony.ai Featured in 2024 Fortune China Tech 50 

Autonomous driving technology company Pony.ai earned a notable spot in the inaugural Fortune China Tech 50 list released by business magazine Fortune. The ranking highlighted 50 Chinese technology companies that are making a global impact. Pony.ai stands out as one of the five AI companies in the list, given its leading position within the autonomous driving landscape. 

 

▌Sunman Energy Wins Top Accolade in Renewable Energy

Collaborative research between Sunman Energy, a pioneering solar panel manufacturer, and its strategic partner, Shanghai University of Electric Power, has garnered significant acclaim from China Renewable Energy Society. Their project focused on the development of flexible crystalline silicon PV modules has secured the first prize in the Technological Invention Award conferred by the society.

 

▌Seyond Obtains TÜV ISO/SAE 21434 Certification

Seyond, a leading provider of high-performance LiDAR sensors and solutions, has received the TÜV ISO/SAE 21434 Certification, a milestone in automotive cybersecurity. As the first international standard addressing automotive cybersecurity, Standard ISO/SAE 21434 on Road Vehicles – Cyber Security Engineering is also a pivotal international benchmark on automotive information security. By achieving this certification, Seyond demonstrates that its entire product lifecycle, encompassing product R&D, procurement, manufacturing, and maintenance, adheres to the highest international standard. It also underscores Seyond’s ability to serve automobile clients with best practices in cybersecurity capability.