CATL closes $280 million first external funding round for skateboard chassis unit, report says
Following the funding, CAIT-SH is valued at over RMB 10 billion, becoming the first unicorn in the skateboard chassis sector.
- Following the funding, CAIT-SH is valued at over RMB 10 billion, becoming the first unicorn in the skateboard chassis sector.
- Funds from this round will primarily support mass production of CATL's Bedrock Chassis models and R&D for next-generation technology.
CATL (HKG: 3750) has reportedly completed its first external funding round for its skateboard chassis business, about three months after initiating the process.
The business unit, Contemporary Amperex Intelligence Technology (Shanghai) Limited (CAIT-SH), secured over RMB 2 billion ($280 million) in its first external funding round, local media outlet China Star Market reported today.
Following the funding, CAIT-SH achieved a valuation exceeding RMB 10 billion, becoming the first unicorn in the smart chassis sector, the report noted.
A unicorn company refers to a startup founded relatively recently with a valuation exceeding $1 billion.
Investors in CAIT-SH's funding round include Boyu Capital, Guotai Junan Securities, BAIC Capital, Shanghai Science & Technology Venture Capital, and Fortera Capital, according to the report.
The funds raised in this round will primarily be used for the mass production of CATL's Bedrock Chassis models and the R&D of next-generation Bedrock Chassis technology, the report said.
Founded in 2021, CAIT-SH provides battery-centric skateboard chassis-related products and technical services.
Previously a wholly-owned subsidiary of CATL, the business introduced new investors in November 2023, though all were affiliated with CATL.
CATL unveiled the Bedrock Chassis in December 2024, aiming to accelerate the shift toward modular and personalized automotive design.
On July 28, domestic media outlet Yiou reported that CATL initiated CAIT-SH's first external financing round of RMB 2 billion, with a pre-investment valuation of about RMB 9 billion.
CATL is the world's largest power battery manufacturer, holding a 37.5 percent share of the global EV battery market in the January to July period, according to data from South Korean market research firm SNE Research.
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