EqualOcean has learned that Tranlution(Chinese: 全路程), an urban green transportation power exchange ecosystem service provider, has recently completed CNY 200 million Series D financing.
Tranlution is an urban green transportation power exchange ecosystem service provider that integrates modular battery R&D, power exchange vehicle design and mass production, green power storage and power exchange supplement operation, and reduces costs and increases efficiency for enterprise customers by applying standard modular batteries to a variety of new energy power exchange commercial vehicles.
Power exchange commercial vehicles have huge development potential in the domestic market. According to the estimate of Huatai Securities, it is expected that by 2025, the domestic sales of power exchange passenger cars will be 2.63 million, and the sales of power exchange commercial vehicles will be 380,000, the demand for supporting power exchange stations will be about 25,000, accounting for CNY 73. 6 billion of market scale, and the demand for supporting batteries will be about 45GWh, accounting for CNY 31.4 billion of market scale, and the total scale of the domestic industrial chain will be CNY 350.2 billion, accounting for the compound annual growth rate of more than 100 percent.
Huang Fengnan, CEO of Tranlution, said in an interview that after the last round of financing, Tranlution has carried out the batch delivery of power-switching commercial vehicles across the country, with a cumulative total of more than 1,000 vehicles delivered. In addition to serving logistics companies, it has also begun testing and promotion for commercial flow companies such as National Pharmaceuticals, Makuhari, and Starbucks. It is expected to deliver more than 5,000 vehicles this year.
At the Shanghai Auto Show in April this year, Tranlution signed an overseas strategic acquisition agreement for new energy for electricity commercial vehicles with business partners from more than a dozen countries, including Uzbekistan, Poland, Hungary, the United Arab Emirates, Qatar, Egypt and Saudi Arabia. Huang Fengnan told 36 Krypton that Tranlution has been in contact with customers in Thailand, Vietnam, Indonesia and Japan, and is expected to sign strategic cooperation agreements with some overseas group companies within the year, to rapidly promote the process of power exchange ecosystem project overseas.
Over the past year, the domestic commercial vehicle market for power exchange has been in a rapid development stage. As of the end of June this year, Tranlution's market share in the country has reached 10%, the market has appeared in the power exchange model followers, power exchange commercial vehicle market is flourishing, and promising.
Next, Tranlution will further cut into the low-efficiency commercial vehicle scenario (referring to commercial vehicles with mileage below 150 kilometers in a single day) to open up new markets. With the further expansion of the market, it is expected that the delivery of vehicles next year can reach about 10,000 units and the construction of power exchange stations can exceed 2,000, said Huang Fengnan.
The financing was led by Xinchang Chenghe Equity Investment Partnership (Chinese: 新昌诚合招引基金). With the new round of financing, Tranlution will build a full-process integrated smart energy production and R&D center in Xinchang, Zhejiang Province, to produce power batteries, energy storage batteries, photovoltaic storage charging and switching stations, and semi-automatic forklifts.