Qianchen Auto, a commercial vehicle manufacturer, claimed to have raised over 100 million RMB from its B+ round of financing recently. The funds raised will mainly be used for the R&D, mass production and market promotion of light trucks, as well as the R&D iteration of core technologies, eventually accelerate the integration of the supply chain and the expansion overseas.
Recently, Shanghai Qianchen Automobile Technology Co., Ltd. (Chinese: 前晨汽车, hereinafter referred to as Qianchen Auto) announced that it has completed the B+ round of over 100 million RMB (15 million USD) in financing, invested by NIO Capital (Chinese: 蔚来资本). The funds raised will mainly be used for the R&D, mass production and market promotion of light trucks, as well as the R&D iteration of core technologies, eventually accelerate the integration of the supply chain and the expansion overseas.
Founded in September 2020, Qianchen Auto is a new energy commercial vehicle brand, founded by Huang Chendong who is the former senior vice president of NIO Auto(Chinese: 蔚来汽车). At present, the company has released two products, Qianchen EC1 and Qianchen IC1, of which EC1 has sold more than 1000 units in one year.
In 2023, the company plans to build an operation team that provides vehicle rental services to increase user stickiness, and let users better understand Qianchen Auto's products and services. On the other hand, it can also bring new revenue growth points for the company.
Zhu Yan, Managing Partner of NIO Capital stated that commercial new energy vehicles have entered an important development with the trend of electrification. "With the help of NIO Capital, we look forward to further improving the comprehensive capabilities of product definition, supply chain, energy supplement and so on for Qianchen Auto, ultimately bringing the company to a leading position in the realms of commercial NEVs worldwide."