On October 14th, UP Intelligent Electric Vehicle Company established a strategic partnership with Bosch China to carry out a series of technical cooperation in the field of integrated chassis. Bosch will fully support the development of the “UP Super Chassis” and the supply of parts. Dr. Chen Yudong, President of Bosch China Investment Co., Ltd., Dr. Xu Daquan, Executive Vice President of Bosch China Investment Co., Ltd., Xu Kai, Vice President of Bosch China Investment Co., Ltd., Zhu Lin, Partner and CEO of Boyuan Capital Management, Li Peng, Founder and CEO of UP Intelligent Electric Vehicle Company, and Tang Shanzheng, Executive Vice President of UP Intelligent Electric Vehicle Company attended the ceremony.
At the ceremony, Zhu Lin from Boyuan Capital, a subsidiary of Bosch, announced that they had completed leading UP Intelligent Electric Vehicle Company’s Pre-A+ round financing. This is the third financing that UP Intelligent Electric Vehicle Company has received since its establishment over five months ago and the first investment landed by Boyuan Capital after its establishment.
In terms of technology, UP Intelligent Electric Vehicle Company emphasizes scene-based car manufacturing, abandoning the concept of integrated vehicle development and upgrading the platform development process to a “separated upper and lower body development”. This redefines the top-level logic of car development, allowing the platform to better serve automakers and revolutionizing the traditional supply chain system.
Bosch also expressed support for UP Intelligent Electric Vehicle Company’s innovative model and compared the relationship to UP being Tier 1 and Bosch being Tier 1.1. The development of the “UP Super Chassis” can shorten the development cycle of the entire vehicle to one year and reduce the R&D costs by up to 60%.
Although the intelligent electric vehicle industry is just beginning, it has shown a strong trend of competition. On the other hand, many internet players are continuing to enter this field. In this situation, platform-level technological innovation will be a new trend. With in-depth understanding of the industry and Tier 1 and OEM genes, UP Intelligent Electric Vehicle Company may provide a new set of intelligent vehicle development concepts and imaginative business models for the automotive industry chain.
As the modularization and intelligence of automobiles continue to improve, the independent car manufacturing model of chassis and body decoupling has become possible. Several startups worldwide have entered the “super chassis” racecourse and released related products, such as Rivian and REE. The former’s financing capacity in the industry is only second to Tesla, and its valuation has reached USD 80 billion.
As more companies from different backgrounds participate in the future mobile travel ecosystem, the automobile industry will still be a high-entry threshold and high-integration industry. UP Intelligent Electric Vehicle Company is selling the “UP Super Chassis” and “car manufacturing freedom”.The founder and CEO of HiPhi, Mr. Li Peng, revealed that a prototype chassis for customers has been produced and matched with automatic driving control for testing in September.
🔗Source: HiPhi Technology
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.