Bosch Venture Capital participated in the investment in Caven Automotive to promote the development of the hydrogen power industry chain. Caven Automotive is expected to become a leading enterprise in China's new energy commercial vehicle market.
Bosch Venture Capital (Chinese: 博世创投), a subsidiary of the Bosch Group, together with Boyuan Capital (Chinese: 博原资本), a venture capital platform established by the Bosch Group in China, Foton (Chinese: 福田汽车), Beijing Yihuatong (Chinese: 北京亿华通) and Shenzhen Fuyuan Wisdom (Chinese: 深圳福源智慧), invested in Beijing Caven New Energy Automobile Co., Ltd., (Chinese: 北京卡文新能源汽车有限公司) (hereinafter referred to as Caven Automotive).
The company will develop, manufacture and sell pure electric and hydrogen fueled commercial vehicles and related core components and systems. The company also plans to develop wired control and intelligent driving technologies such as smart network connectivity, smart logistics and autonomous driving.
Caven Automotive has appointed Hongquan Jiang, Partner of Bosch Venture Capital and Chairman of Boyuan Capital, as a director of the company. Hongquan Jiangn said, "China is now the world's largest market for new energy commercial vehicles. The Caven Automotivemotive team will leverage its rich industrial resources and strong development momentum to build Caven Automotive into a leading new energy commercial vehicle company."
Weiliang Wang, president of Bosch Powertrain China, said: "In the future, Bosch will make use of its experience and advantages in hydrogen power to continue to help Caven Automotive's hydrogen fuel cell vehicle business and explore the possibility of further cooperation together. At the same time, we will also work together with Caven Automotive to establish a hydrogen energy ecosystem with our partners and promote the development of the whole industry chain of hydrogen power."
According to Zhidong Qin, president of Foton Zhilan New Energy (Chinese: 福田智蓝新能源), Foton has more than 1,200 new energy-related patents, the industry's top commercial vehicle design, manufacturing and production capabilities, and more than 20 years of experience in new energy product development and industrial operation, which will empower Caven Automotive in different ways.
With the strong support of resources from the industrial side, Caven Automotive has the ability to quickly build a new energy vehicle platform and is expected to become a leading enterprise in China's new energy commercial vehicle market.