U Energy ties up with Bosch to collaborate on Tremendous Board expertise

The Clever EV tech startup completes Pre-A+ funding spherical

Printed: Oct. 22, 2021 at 11:39 PM CDT|Up to date: 5 hours in the past

SHANGHAI, Oct. 23, 2021 /PRNewswire/ — U Energy, a Chinese language Good EV expertise startup, has lately entered right into a strategic settlement with German multinational engineering and expertise firm Bosch, whereby the 2 firms will collaborate on clever automobile board expertise to help the event of U Energy’s “UP Tremendous Board.” On the identical time, the startup has introduced the completion of a Pre-A+ spherical of funding, led by Bosch’s market-oriented funding platform Boyuan Capital. This funding was the third spherical of financing obtained by U Energy since its inception 5 months in the past and Boyuan Capital’s first funding since being established.

U Power and  Bosch cooperation signing ceremony
U Energy and Bosch cooperation signing ceremony

Bosch (China) Funding Ltd. EVP Xu Daquan mentioned: “Clever electrical automobile growth has entered a important interval with platform-level expertise steerage and innovation on monitor to grow to be a brand new focus for growth. One of many key gadgets to return out on account of these technological advances is the built-in automobile board that may meet each {hardware} and software program calls for for modularization and intelligence, a characteristic that may vastly scale back manufacturing value and R&D time. U Energy is a accomplice with the correct R&D and manufacturing strengths to supply such a part. We’re wanting ahead to working with U Energy on furthering built-in chassis expertise and supporting the event of China’s clever EV trade.”

Because the lead investor in U Energy’s Pre-A+ funding spherical, Boyuan Capital managing accomplice and CEO Zhu Lin mentioned the worth of conventional automotive provide chains has been modified with the arrival of clever automotive manufacturing. Whereas many new gamers have entered the sphere, U Energy has the correct expertise in place and due to this fact seems to be to be among the many most promising. U Energy’s proprietary UP Tremendous Board is a breakthrough product that may vastly empower automotive manufacturing because the sector enters a brand new stage, vastly shorten the time wanted for R&D, and meet the fast launch and diversified market wants of clever EVs in numerous situations. With its a few years in its function as a Tier 1 auto provider and an entire automobile producer now deeply ingrained in its DNA, the U Energy crew will carry to the desk an entire new strategy to clever automobile R&D and a extremely imaginative enterprise mannequin for the automotive enterprise chain, alongside its market-leading chassis merchandise, to additional scale back prices and improve effectivity. The 2 firms, on account of the collaboration, could have an enormous head begin because the period of clever electrical automobile unfolds.

U Energy, with its huge expertise in manufacturing automobiles underneath a number of real-life situations, will reinvent the complete automobile growth course of by shifting to a modularization strategy whereby the chassis is split from the physique. By redefining the basic strategy, technical norms and provide chain, U Energy’s proprietary UP Tremendous Board could be custom-made to satisfy totally different {hardware} requirements and software program platforms, rising R&D and manufacturing productiveness. The existence of the UP Tremendous Board is anticipated to shorten R&D time to 1 12 months and scale back manufacturing prices by as much as 60%.

Immediately, China’s clever EV trade is uncovered to more and more fierce competitors between conventional automobile makers, new automotive producers and expertise firms. Advances in automobile modularization and intelligence have made attainable the body-chassis-separated manufacturing mannequin. Some worldwide start-ups are already working on this space in collaboration with main automakers. In China, the idea of the “tremendous board” stays contemporary. It’s an open secret within the trade that greater than 50% of the invoice of supplies (BOM) value of clever EVs is concentrated within the energy chassis, opening the door to  the creation of a brand new “species” just like the tremendous board. U Energy founder Li Peng mentioned there are a lot of firms from numerous backgrounds which are desperate to enter the mobility area, however what holds them again are the excessive limitations. U Energy seems to be ahead to seeing the UP Tremendous Board expertise create a degree taking part in subject for all those who search to enter.

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