Recently, a Beijing-based automaker DD Yuntong, focusing on providing smart new energy engineering cars to industrial and mining enterprises, closed its B-round financing amounted to tens of millions of CNY. The money is expected to be used for product R&D and market expansion.
Automatic driving in mining area
On October 19, DD Yuntong (Chinese: 得到运通), a Chinese domestic new energy engineering vehicle manufacturer, announced the completion of its B-round financing worth tens of millions of CNY, which was invested by Phoenix Tree Capital (Chinese: 梧桐树资本) and PKSHA SPARX Algorithm Fund. Jian Yi Hui(Chinese: 健一会) was the exclusive financial advisor. The fund will be used for engineering vehicles R&D, and market expansion. It’s reported that after this financing round, the firm will set up a new sale center in Shandong, aiming to sell products to Shandong province and overseas.
DD Yuntong, founded in 2019, is a Beijing-based engineering vehicle manufacturer focusing on researching extended-range new energy technology and self-driving technology. Currently, the company’s two primary products are extended-range new energy tramcars and extended-range loaders, mainly applied in small-scale mining projects. Moreover, DD Yuntong has signed strategic cooperations with XCMG Machinery (Chinese: 徐工集团), China National Building Material Group (Chinese: 中国建材), China United Network Communications Group (Chinese: 中国联通) and Longjiang Jiaotou (Chinese: 黑龙江交投集团).
In the future, DD Yuntong will continue to focus on providing commercial cars to industrial and mining enterprises and promote the development of intelligence and new energy in the mining industry.
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