NIO Capital Updates

▌NIO Capital’s Ian Zhu Attends Asia New Vision Forum

 

Ian Zhu, managing partner of NIO Capital, attended the second Asia New Vision Forum (ANVF) , and participated in the panel discussion centered on “Driving Forward: The Race to EV in Asia”. The event gathered over 400 global leaders to explore the evolving EV landscape and its impact on the region’s environmental and economic future.

 

Ian highlighted the rapid growth of China’s EV sector, driven by cost advantages and enhanced user experiences. He emphasized the need to harness data generated in this sector as well as vehicle data sharing.

 

 

▌NIO Capital's “Mission Blue” Initiative: Tackling Desertification Through Tree Planting

 

Guided by NIO Capital's Mission Blue initiative and Tencent's Jiujiu Charity Festival, the investment firm’s team members planted trees in the Tengger Desert, located in Alxa League of Inner Mongolia to mitigate desertification.  

 

Tencent’s Jiujiu Charity Festival , formerly known as 99 Philanthropy Day, is an annual nationwide philanthropic event initiated by Tencent Charity in partnership with other charity organizations, businesses, and media outlets since 2015. It echoes the spirit of China's Charity Day on September 5th and aims to encourage more people to engage in long-term and sustainable philanthropy. Aligning with the core spirit of Tencent Charity's Jiujiu Charity Festival, 'Mission Blue' also encourages more people to engage in long-term and sustainable philanthropy. From "Protecting the Oceans" to "Afforestation," and now to "Combating Desertification," NIO Capital is gradually addressing major challenges that hinder sustainable development through its third session of Mission Blue activities.

 

 

▌NIO Capital Honored by 36Kr for Notable Investments

Named by 36Kr, the leading tech media outlet in China, NIO Capital has been honored as one of the top 50 influential industry-focused investment firms in the country, one of the top 50 ESG-conscious investment firms, and one of the top 20 investment firms in the renewable energy sector. 

 

Additionally, Adair Lv, the managing director of NIO Capital, has been recognized as one of the top 20 investors in the semiconductor industry in China.

 

Portfolio Updates

IPO Updates

▌EVTECH debuts on ChiNext of Shenzhen Stock Exchange

EVTECH, a leading supplier of core components for new energy vehicles, debuted on the ChiNext market of Shenzhen Stock Exchange.

 

Since its establishment, EVTECH has always stood at the forefront of new energy technology, committed to providing efficient, reliable, and environmentally friendly component solutions for global automakers. It not only promotes the upgrading of the new energy vehicle industry but also contributes to achieving carbon neutrality goals, thereby providing solid support for the green future of our planet.

 

 

Business Updates

▌Pony.ai Initiates Autonomous Driving Tests Connecting Guangzhou Railway Station, Airport

Autonomous driving technology company PONY.ai has embarked on testing its vehicles on highways that serve the Guangzhou South Railway Station and Guangzhou Baiyun International Airport. As of August 2024, the company has amassed 35 million kilometers of autonomous driving road test mileage, with over 3.5 million kilometers of that mileage logged in fully driverless test scenarios.

 

 

▌Logistics Firms Ink Deal with Dongfeng Trucks for 55 Inceptio-Powered Autonomous Gas Vehicles

 

Six logistics companies have signed a deal with Dongfeng Trucks to order 55 self-driving gas-powered vehicles jointly developed by autonomous driving technology innovator Inceptio Technology. As of now, Dongfeng's intelligent heavy-duty trucks have completed over 150 million kilometers of safe commercial operation, with autonomous driving mileage accounting for 95-99% of the total.

 

About half a month later, Dongfeng Trucks showcased its GX and KX series of vehicles at the Hi-Truck high-end vehicle launch ceremony.  These vehicles, powered by gas or fuel, come with Inceptio Technology's autonomous driving system. The models featuring Inceptio's technology boast seven core characteristics: high reliability, efficiency, economy, comfort, safety, intelligence, and quality service, fulfilling the operational needs of high-end customers across multiple scenarios in four typical industries.

▌Momenta Powers IM Motors' Nationwide Map-less NOA Deployment, Unveils Intelligent Driving Large Models for Production Vehicles

IM Motors, an EV maker supported by SAIC Motor, Alibaba Group, and ZJ Hi-Tech, has announced the mass production of its end-to-end intelligent driving large model . The company will update its IM AD system to a map-less Navigation on Autopilot mode for all vehicle holders across China starting in October. Developed by IM Motors and autonomous driving firm Momenta, the IM AD system leverages data to provide a human-like intelligent driving experience. In just nine months, the system evolved into the map-less NOA mode, enabling advanced driver assistance features in rural areas and all cities without relying on a high-definition map, allowing drivers to park wherever there is a vacancy. 

 

Ten days later, Cao Xudong, the CEO of Momenta, spoke at the Global Intelligent Vehicles Summit 2024, unveiling the company's first intelligent driving large model specifically designed for production vehicles.

 

▌PCG Power Starts Solar Project in Xiamen

PCG Power, a leading comprehensive energy management service provider, has embarked on the construction of a 5.55MW solar project in Jimei district, Xiamen, located in East China's Fujian Province. This project is anticipated to produce approximately 6.5 million kWh of electricity annually, amounting to nearly 163 million kWh over its 25-year lifespan. This project, when completed, is expected to save about 2,132 tons of standard coal and cut carbon dioxide emissions by approximately 6,480 tons each year.

 

 

▌Rhino Sees Successful Bring-up of Its First Autonomous Driving Chip

Rhino, a semiconductor firm, has successfully brought up its inaugural autonomous driving chip, marking a significant milestone in validating its design and paving the way for rigorous testing and subsequent mass production.

 

Dedicated to crafting innovative in-vehicle intelligent computing platforms, Rhino aims to offer a suite of advanced intelligent autonomous driving chips, user-friendly and open toolchains, alongside comprehensive full-stack autonomous driving solutions. By harnessing its proprietary "data-loop defined silicon" methodology, the company empowers automakers to establish cost-effective, large-scale, and automated iterative capabilities. This, in turn, facilitates the high-quality and efficient mass production of autonomous driving systems, positioning Rhino as a trailblazer in advanced intelligent mobility within the data-driven era.

 

Cooperations & Partnerships

▌PCG Power Connects Multiple PV Projects to Grid for Midea

PCG Power, a holistic energy management service provider, has connected the 8.25 MW distributed photovoltaic project atop the factories of Anhui Wuhu Midea Kitchen and Bathroom Appliance Manufacturing Co., Ltd., as well as the 0.72 MW distributed PV project and the accompanying 1.5 MW/3 MWh energy storage project of Jiangsu Suzhou Midea Cleaning Appliance Co., Ltd., to the grid.

 

▌Seyond Joins Kargobot Alliance, Aiming to Boost Autonomous Heavy Truck Commercialization in China

Seyond, a pioneering supplier of high-performance LiDAR sensors and solutions, attended the establishment ceremony of the Kargobot New Energy Autonomous Driving Fleet Transportation Alliance, alongside 30 other esteemed autonomous driving enterprises, automakers, Tier 1 suppliers, supply chain collaborators, and governmental entities.

Kargobot, which was previously part of Didi Chuxing's autonomous driving freight business, became an independent startup in the year 2023. 

 

Seyond plans to further strengthen its collaboration with Kargobot to jointly advance the nationwide commercial deployment of autonomous heavy trucks and propel the growth of intelligent transportation and the new energy vehicle industry in China.

 

 

▌Autolink and UQI Partner to Develop Embodied Intelligence Controllers

 
Autolink, a leading provider of smart cockpit software and hardware solutions, has inked a strategic partnership with UQI, a robot manufacturer, to develop embodied intelligence controllers. The collaboration aims to leverage UQI's expertise in logistics robots and automation technology, alongside Autolink's strengths in in-vehicle controllers and software engineering, to jointly propel the research and development of high-performance in-vehicle and embodied controllers. Furthermore, the two companies will cooperate in algorithm engineering within the Linux or QNX operational systems, as well as in AI software research and development tailored for these platforms.

 

 

▌Black Sesame Teams up with Banma, Dongfeng Motor, to Propel Autonomous Driving

Black Sesame Technologies, a provider of intelligent vehicle computing chips, and Banma Zhixing, a specialist in intelligent automobile operating systems, have embarked on a comprehensive collaboration to establish a foundational platform for single-chip cross-domain fusion. Leveraging Banma Hypervisor, they have successfully concluded the development, integration, and testing of the inaugural version of multi-system baseline software, tailored for integrating smart cabins and intelligent driving solutions.

 

Black Sesame and Dongfeng Motor, a leading automaker, have signed a framework technological cooperation deal covering intelligent driving and perception algorithms, cross-domain fusion computing platforms, vehicle-road-cloud integration solutions, and next-generation computing platforms.

 

Global Expansion

▌CALB Demonstrates Energy Storage Solutions in USA and Germany

At RE+, the leading force in the clean energy event industry formerly known as Solar Power International, CALB, a comprehensive energy operation system provider introduced its "ZHIJIU" energy storage product series to the North American market. The second-generation 314Ah 2.0 energy storage cell boasts an industry-leading 15,000-cycle lifespan for mass-produced products, with no degradation in the first 1000 cycles.

 

Days later, CALB exhibited its "ZHIYUAN" battery system for light trucks at IAA TRANSPORTATION 2024 in Germany. The "ZHIYUAN" light truck series stands as the only industry solution where a single battery pack can span a range of 100-180kWh. Leveraging CIR3.0 platform technology, the system offers a 10% reduction in component count and a 5% increase in space utilization. The LiFePO4 chemistry delivers a system energy density of 165Wh/kg, while the ternary chemistry reaches 210Wh/kg. The system is designed to last up to 10 years.

 

 

▌Eacon Signs MoU with Thiess at World's Largest Mining Show

Eacon, a provider of autonomous haulage solutions, signed a memorandum of understanding (MoU) with Thiess, a global leader in engineering, rehabilitation, extraction, and asset services for the mining industry, at MINExpo, the world's largest mining show.

 

They agreed to cooperate on the adoption of Eacon's autonomous driving solutions and new energy technologies, which will drive the process of intelligization and decarbonization in the global mining industry. Thiess's global mining service capabilities will accelerate Eacon's overseas expansion, allowing Eacon to provide more targeted and localized products and services. Meanwhile, Eacon's advanced capabilities in autonomous driving technology and new energy system design will also help Thiess offer more diversified services to mining companies.

 

 

▌Sunman Energy Showcases Its Offerings at UK Exhibition

Sunman Energy, a leading manufacturer of solar panels, made a splash at Solar & Storage Live UK 2024 by showcasing three latest products. Among them was the eArc SMF520, a glass-free lightweight solar panel that delivers 520 watts of output. Furthermore, Sunman presented Dragonfly, a versatile all-in-one engineering solution, and a customizable off-grid module designed to cater to specific requirements.

 

eArc is Sunman’s proprietary crystalline silicon solar module. This product combines a glassless, lightweight, film-like design with exceptional ease of installation.

 

 

Honors & Awards

 

▌Inceptio, SINPRO win KMPG Autotech 50 Award

Inceptio Technology, a developer of autonomous driving technologies for heavy-duty trucks, and SINPRO, an auto-grade environmental perception solutions provider, both secured spots in the KPMG China Leading Autotech 50 list-7th edition.

 

In 2017, KPMG China initiated a list of 50 prominent automotive technology companies to emphasize emerging technologies, novel products, and fresh trends within China's automotive industry, fostering enhanced communication and development across the sector. 

 

▌PCG Power and Sunman Energy Recognized by TÜV Rheinland for Exceptional Product Quality 

PCG Power, a leading provider of comprehensive energy management services, has been honored with the Industrial & Commercial Distributed PV System Project AQM (All Quality Matters) Award 2024 from TÜV Rheinland. 

Additionally, Sunman Energy, a renowned manufacturer of solar panels, received the Lightweight PV Module Performance AQM Award 2024 from the same international third-party testing and certification organization during the Solar & ESS Congress 2024.

 

▌Seyond Granted ISO Certification for Safety of the Intended Functionality

Seyond, a supplier of high-performance LiDAR sensors and solutions, has been awarded the ISO 21448 Certification. This milestone positions Seyond as the inaugural LiDAR enterprise globally to attain ISO 21448 certification endorsed by the American National Accreditation Board (ANAB).

The ISO 21448 Road vehicles — Safety of the Intended Functionality (SOTIF) certification aims to address the vehicle-level hazards arising from performance limitations, inadequate specification definitions, and foreseeable misuse by personnel in autonomous driving, thereby minimizing safety risks associated with autonomous vehicles. It fills a gap in functional safety analysis in the field of autonomous driving.

 

▌Yunchuang Zhixing Glorified by Fortune for Social Influence 

Autonomous driving sanitation vehicle developer Yunchuang Zhixing has been featured as one of the most socially influential startups in China by the world-renowned magazine Fortune. This ranking celebrates startups that have achieved significant growth through technological or business model innovation, while effectively addressing social issues and demonstrating a strong commitment to social responsibility.  

 

▌Rhino Wins ISO Certification for Functional Safety

 

Autonomous driving chip developer Rhino, has obtained ISO 26262 certification from the International Organization for Standardization. This signifies that the functional safety architecture and overall design structure of the company’s autonomous driving chips, as well as their random hardware failure indicators, fully comply with international automotive semiconductor standards. With this achievement, Rhino is poised to introduce more advanced autonomous driving chips to expedite mass application of intelligent driving.