On Nov 14, KHAT announced to have completed its B-round financing of CNY 510 million, which will be used in product line extensions.
On Nov 14, KH Automotive Technologies Co., Ltd.(Chinese: 孔辉科技) (hereinafter referred to as KHAT) claimed to have raised CNY 510 million (USD 72.29 million) from its B-round financing, co-led by China Venture Capital (Chinese: 中国风投), CRRC Capital (Chinese: 中车国创), Source Code Capital (Chinese: 源码资本) and Shenzhen Venture Capital (Chinese: 深创投). This investment was also followed by Yonghua Capital (Chinese: 涌铧投资), Huoyan Investment (Chinese: 火眼资本) and Shanshan Venture Capital (Chinese: 杉杉创投). It is noted that the fund will be primarily used in company product line extensions.
KHAT is the first Chinese company that is capable of mass-producing and supplying passenger car air suspension systems. In June 2021, the company successfully finished the SOP of air suspension system developed for Voyah FREE. In other words, globally there had not been a single mass-produced passenger car which carried air suspension systems from Chinese companies.
Currently, KHAT is the exclusive supplier for Li Auto L9, Voyah FREE and Voyah Dreamer. Up until now, KHAT has accumulated supply of 60,000 sets with an annual production capacity of 150,000 sets.
In the next year, KHAT plans to be the supplier of seven more new car products (amounting to 10 in total), whereas the company has received supply orders involving over 30 car models from more than 13 auto makers.