Ningbo Yili Electromagnetic Technology Co., Ltd. recently completed a strategic financing of tens of millions of yuan, which was exclusively invested by Fresh Capital. The money will be used to expand new production lines, build new factories and increase investment in research and development.
Yili Electromagnetic Secures Tens of Millions in Strategic Investment to Accelerate Domestic Production of Air Suspension Electromagnetic ValvesEqualOcean reports that Ningbo Yili Electromagnetic Technology Co., Ltd. (referred to as "Yili Electromagnetic") recently completed a strategic financing round, raising tens of millions of RMB. The round was exclusively invested by Fresh Capital. The funds will primarily be used to expand new production lines, construct a new factory, and increase R&D investment.
Founded in 2017, Yili Electromagnetic is dedicated to developing and producing key components for high-end vehicle air suspension systems, such as distribution valves and CDC (Continuous Damping Control) damping electromagnetic valves used in air supply units. Currently, the company has more than 50 team members, with over 50% being technical staff.
In terms of product range, based on the team's previous development experience, Yili Electromagnetic's products cover gas distribution valves, multi-chamber electromagnetic valves, CDC electromagnetic valves, pressure-holding valves, and integrated valve pumps, comprehensively covering the product line related to air suspension system electromagnetic valves. These products are crucial components in air suspension systems, responsible for multi-level chassis height adjustment and chassis stiffness adjustment, significantly enhancing vehicle comfort and handling.
According to their plan, Yili Electromagnetic will continue to increase its R&D investment. Founder Chen Xiaoqi stated that by the end of 2024, the company's stiffness valves and CDC electromagnetic valves are expected to achieve SOP (Start of Production) mass production, further enriching their product line and enhancing market competitiveness. "Yili Electromagnetic's vision is to become the number one company in market share for valves in the air suspension field and to become a leader in this segment," said Chen.
Fresh Capital's automotive industry investor Shi Chenghao commented, "We value Yili Electromagnetic's potential in cost reduction and technological innovation for domestic production. As automotive consumption upgrades and competition among OEMs intensifies, the willingness of domestic brands to equip air suspension systems is rapidly increasing. In the future, mainstream models priced above 300,000 RMB will be equipped with dual-chamber air springs and CDC dampers, those priced between 180,000 and 300,000 RMB will be equipped with single-chamber air springs and CDC dampers, and those priced between 120,000 and 180,000 RMB will be equipped with CDC dampers. This will drive the market scale for related electromagnetic valves to exceed 10 billion RMB. As the first domestic company to break foreign monopolies and achieve large-scale mass production, and still the only domestic company to achieve mass production and supply, Yili Electromagnetic has an absolute first-mover advantage and supply chain cost advantage. We will work with Yili to develop and expand new customers and continuously introduce new technical products to maintain Yili's leading position."