Zhongke Motong Intelligent Manufacturing completed the B round of financing, focusing on the overall solution of intelligent equipment for the renewable industry.
Zhongke Motong Intelligent Manufacturing completed the B round of financing with more than CNY 100 million in November 2022. The fund will be used for researching and developing in the field of renewable vehicles and intelligent manufacturing and talent development.
Zhongke Motong was founded in 2019 as a specialized enterprise focusing on research and development of overall solutions for intelligent equipment in the renewable vehicle industry. The company provides automatic, informative, and intelligent production solutions for the renewable vehicle industry with the support of the Jiangsu Institute of Intelligent Education and Tianmu Lake Institute of Advanced Energy Storage Technologies. Zhongke Motong has established a close relationship with the head customers in the renewable vehicles industry, such as Contemporary Amperex Technology, Fengchao Energy Science and Technology, Star Charge, etc. The automotive electronics and lithium equipment business brings high growth potential for the company. The CAGR from 2019 to 2021 of sales contract amount reached 164%.
The renewable vehicles industry is experiencing high-speed development. CCA data show that the production and sales of renewable vehicles reached 5.49 million and 5.28 million, respectively, from January to October, and the market share reached 24%. Fang Jian, Chairman of Guolian Jintou, invested in the Zhongke Motong and said that ‘We see the continuous high growth of Zhongke Motong in the renewable vehicle industry, and we are very optimistic about this in-depth cooperation and look forward to and believe that we can create a bright future together.’