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Trinova completed nearly 600 million Series C financing

Trinova completed nearly 600 million Series C financing

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  • Time of issue:2024-01-02 09:56
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(Summary description)Recently, Trinova completed a Series C financing of nearly 600 million yuan. This round of financing is led by multiple industry side funds such as Guojiang Fund (invested by Jianghuai), BAIC Investment, Intelligent Automobile Fund (Shaanxi Automobile), and SMIC Xicheng. Multiple new and old shareholders, including Longding Investment, Guoxin High level Talent Fund, Huakong Fund, Yichen Capital, Shanghai Guohe, Kailian Capital, and CITIC Capital, also participate in the investment.

Trinova completed nearly 600 million Series C financing

(Summary description)Recently, Trinova completed a Series C financing of nearly 600 million yuan. This round of financing is led by multiple industry side funds such as Guojiang Fund (invested by Jianghuai), BAIC Investment, Intelligent Automobile Fund (Shaanxi Automobile), and SMIC Xicheng. Multiple new and old shareholders, including Longding Investment, Guoxin High level Talent Fund, Huakong Fund, Yichen Capital, Shanghai Guohe, Kailian Capital, and CITIC Capital, also participate in the investment.

  • Categories:News  center
  • Author:
  • Origin:
  • Time of issue:2024-01-02 09:56
  • Views:
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Recently, Trinova completed a Series C financing of nearly 600 million yuan. This round of financing is led by multiple industry side funds such as Guojiang Fund (invested by Jianghuai), BAIC Investment, Intelligent Automobile Fund (Shaanxi Automobile), and SMIC Xicheng. Multiple new and old shareholders, including Longding Investment, Guoxin High level Talent Fund, Huakong Fund, Yichen Capital, Shanghai Guohe, Kailian Capital, and CITIC Capital, also participate in the investment.

 


In the past three years, the electrification and intelligence transformation of China's automotive industry has continued to deepen, and the export scale of ethnic brand cars has continued to expand. The concentration of the industry and the deep technological competition triggered by the high-quality development of the entire industry have continued to accelerate. Top ethnic brand car companies are moving towards a first-class international automotive group. The internationalization of China's automotive industry urgently requires the support of independent chassis core technology, and it will also lead national chassis core component enterprises to rapidly develop and go global.


At the same time, the international automotive electronics and electronic control industry supply chain and supporting system are undergoing rapid transformation. Industry mergers and acquisitions, as well as the rapid development of new technologies, have brought sustained vitality and rapid updates to the market. Innovation has become the lifeline for the competitive development of start-up enterprises on the track. Based on independent chips and electronic devices, Trinova has innovated the electronic and electrical architecture of the ESC/EPBi core automotive chassis safety control system, ensuring the bottom line of supply chain security and achieving millions of vehicle applications. The product has been widely used in more than 20 countries and regions around the world, along with China's automobile export strategy, and has withstood the test of different geographical climates and usage environments worldwide.


In the past three years, Trinova has established deep technical cooperation and product matching relationships with 28 of the top 30 domestic brand automobile production and sales enterprises in China. At present, the supporting applications of chassis wire control products such as ESC/EPBi, Ebooster (TBS), EPB, etc. have exceeded 2 million sets. It is expected that mass production of T-IBC (Onebox) and C-EPS will be achieved by June 2024.


In response to the future international economic environment and market competition, in 2023, Trinova has focused on establishing strategic partnerships with more than 10 national automotive chip and electronic device enterprises, working together to create chassis electronic control series products with 100% domestic electronic device solutions. It is expected that after the winter standard test in 2024, these fully autonomous and controllable products will be gradually installed and applied in batches, striving to create a strategic pivot and industrial synergy ecosystem for the national automotive industry.


Trinova has independently built a 300 acre ESC/ADAS dynamic testing field, a 30000 square meter precision machining and manufacturing base, a comprehensive office building, and a vehicle modification workshop in Yingshan, Hubei. The testing site was put into use in October 2022 and has been recognized by multiple automotive companies. It has completed the acceptance of ESC/ADAS mass production supporting projects for nearly 20 vehicle models; The precision machining and manufacturing base also successfully passed a series of quality system certifications in October 2023, possessing high-quality lean manufacturing capabilities.


Based on the headquarters of Beijing Yingchuang, Tianjin Yingchuang, and Hubei Yingchuang Jinggong, Trinova has jointly built a fully independent industrial chain that integrates wire controlled braking, wire controlled steering, and wire controlled chassis. The production system supporting 3 million sets of automotive chassis electronic control products such as ABS, ESC, EPBi, TBS, T-IBC, C-EPS, and EPB has been preliminarily established. At the same time, a next-generation wire control system technology research and development system has been laid out, including brake by wire (EMB), steering by wire (SBW), chassis domain controller, key automotive chassis sensors, and key precision transmission mechanisms.

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