CS Smart Completes Series B Financing to Boost Global Expansion of Logistic EVs

Automotive Author: Yiru Qian Oct 31, 2023 03:19 PM (GMT+8)

With a clear vision, substantial funding, and a team of committed industry players, CS Smart is poised to make an impact on the future of global logistics. The company's unwavering commitment to innovation and cost-effective solutions paves the way for a greener, more efficient, and digitally connected logistics future

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Chinese logistics EV maker CS Smart has announced the successful completion of a substantial Series B round of financing round, raising nearly CNY 10 billion. This financing round was led by Hidden Hill Capital and saw participation from Yuanzhi Investment, Ganfeng Lithium, and Zhongxiang Jusheng. 

The funds will be directed towards crucial areas, including research and development of product technology, market expansion, supply chain optimization, and digital infrastructure. The primary objective is to revolutionize the global logistics landscape with cutting-edge, pure electric smart logistics vehicles.

The company is dedicated to driving the worldwide transformation of last-mile logistics into a green and intelligent ecosystem. It does so by harnessing the power of technology and innovation to provide cost-effective pure electric vehicles to every delivery driver. By integrating the key elements of data, computational capabilities, algorithms, and application scenarios, CS Smart is propelling the intelligent evolution of last-mile logistics. 

CS Smart's founder and chairman, Liu Chuanfu, expressed confidence in the company's strategic direction, stating, "Our company's development is steadily progressing, and in the field of last-mile delivery, we continue to focus on leveraging technology and supply chain efficiencies to reduce costs and build essential core capabilities. Furthermore, on the market front, we are actively promoting various business network models to facilitate the large-scale deployment of our vehicles. CS Smart will continue to adapt to emerging market demands, catering to various last-mile scenarios."

Hidden Hill Capital's Managing Partner, Dong Zhonglang, emphasized the pivotal role of niche product development in an expanding market, stating, "The current trend of increased penetration of new energy commercial vehicles is evident. Some common vehicle types are starting to exhibit signs of homogenized competition. We believe that products developed to cater to specific, segmented demand scenarios hold significant growth potential. As express delivery volumes continue to rise, and transportation safety regulations improve, the last-mile delivery market will emerge as a vital application scenario for new energy logistics vehicles. Products that offer higher efficiency and cost-effectiveness will disrupt the existing landscape. Furthermore, new energy micro-vehicles align with the comprehensive transportation needs of the expanding lower-tier market. CS Smart has been deeply committed to the last-mile logistics scene for years, focusing on the research and design of vehicle models. The company's differentiated solutions effectively address pain points in last-mile delivery scenarios, reducing end-customer concerns through cost-effective products. In recent years, the company has achieved notable breakthroughs. In the future, we will empower Hidden Hill's logistics industry ecosystem and jointly contribute to the advancement of last-mile delivery and rural revitalization."

Zhang Yun, Chairman of Yuanzhi Investment, echoed these sentiments, saying, "The combination of 'Dual Carbon + Road Rights Subsidy,' rural revitalization, and urbanization will drive rapid development in the new energy commercial vehicle sector. In the mid to long term, technological advancements and cost reductions will trigger significant market expansion. CS Smart has established a competitive edge in scenario positioning and product definition. The company has achieved breakthroughs in commercialization and has gradually expanded into overseas markets. As it continues to scale, CS Smart will further enhance its Bill of Materials (BOM) cost control capabilities and supply chain optimization. It is poised to become a leading enterprise in the segmented industry. In the future, Yuanzhi Investment will leverage its industrial resources to empower CS Smart, setting industry benchmarks and propelling industrial advancement."

Ganfeng Lithium's Chairman, Liang Bin, praised CS Smart for its precise market strategy, stating, "CS Smart's accurate niche focus allows it to carve out a substantial piece of the 'new cake' within specific market segments. Ganfeng Lithium will work closely with CS Smart on energy solutions, introducing an all-new battery swapping model to drive the development of new energy vehicles in the last-mile logistics sector."

Zhongxiang Jusheng's Chairman, Cao Tian, emphasized the company's innovative approach to specialized vehicle manufacturing, saying, "CS Smart's expansion into various consumer-end scenarios through scene-based manufacturing is a forward-looking move. In the future, Zhongxiang Jusheng will assist CS Smart in constructing new competitive barriers for applications in emerging consumer scenarios."