Breaking the monopoly of US and Japanese billionaire giants
Lofandi, a Chinese core component supplier for intelligent short-distance travel, has completed a Series B financing round of nearly CNY 1 billion. The investors include Guangzhou State-owned Assets Development Holding Co., Ltd., Dice Investment (an investment platform affiliated with Hunan Iron & Steel Group), and Fortune Capital. The funds raised in this round will be used for overseas market operations, talent introduction, and scaled mass production of new products.
Guangdong Lofandi Intelligent Technology Co., Ltd. (Lofandi) was established in 2012. The company focuses on the R&D and production of internal gearboxes and has developed products such as electronically controlled internal gearboxes, motor-integrated gearboxes (MEGS), mechanical automatic internal gearboxes, manual internal gearboxes, and intelligent bike locks.
In recent years, Ebikes have become a popular cycling product in Europe and the United States, giving rise to a market worth hundreds of billions of dollars. Data from 10100.com shows that the global Ebike market size is expected to be USD 35 billion (CNY 254.22 billion) in 2024 and is projected to reach USD 62.25 billion by 2030. The market is expected to grow at a compound annual growth rate of slightly less than 10% during the forecast period.
However, like bicycles, the core components of Ebikes are mainly monopolized by overseas manufacturers. Taking gearboxes as an example, 95% of gearboxes in the Chinese market come from two manufacturers: Japan's Shimano and the United States' SRAM.
Lofandi started the R&D of automatic gearboxes in 2014 and customized and developed an electronically controlled automatic internal gearbox suitable for Ebikes in 2021. At the Shanghai Bicycle Exhibition last May, the first motor-integrated internal gearbox product jointly developed by Lofandi and Annada was released. This is a hub motor automatic internal three-speed product, which is also a scarce product integrating motors and internal gearboxes in the market. It has currently achieved mass production.
Apart from internal gearbox products, Lofandi's most commercially implemented product is its intelligent bike lock, and it has now become a core supplier for multiple travel brands at home and abroad.
