Recently, Zhejiang Fute Technology Co., Ltd. announced the completion of a strategic round of financing of 100 million yuan. This round of financing was invested by Hubei Xiaomi Changjiang Industrial Fund Partnership (Limited Partnership), an industrial investment institution. Another important industrial capital after strategic investment such as Anji Industrial Investment.
It is reported that the funds raised in this round of financing will be mainly used for the research and development of new platforms and the layout of overseas markets.
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Moreover, Fute Technology is a technology research and development and intelligent manufacturer focusing on high-voltage core components of new energy vehicles. At present, the company has equipped many models of international first-tier OEMs and has the ability to mass-produce and support them.
The investment in Fute Technology, a core supplier of new energy vehicle charging, is a further improvement of Xiaomi’s car manufacturing layout, which also prepares its first model to roll off the assembly line in 2024 and achieve mass production.
Sun Changxu, the managing partner of Xiaomi Production and Investment, said: “Forte Technology’s products are the core components in the charging scenario of new energy vehicles. We are optimistic about the company’s technological accumulation in the field of high-voltage power supply and its continuous pursuit of product quality. We look forward to helping Foote become a world-class manufacturer of new energy vehicle core components through this investment.
Since Xiaomi officially announced the production of cars in March 2021, Xiaomi has made frequent moves in the automotive field and has invested in nearly 40 automotive industry chain companies, covering many-core technology fields of the industry chain such as intelligent driving, vehicle chips, and power batteries.
In November 2021, Xiaomi Auto signed a cooperation agreement with the Beijing Economic and Technological Development Zone Management Committee and officially settled in the Beijing Economic and Technological Development Zone.
According to the plan, Xiaomi Auto will build a complete vehicle factory in two phases in the Beijing Economic and Technological Development Zone. The cumulative annual output of the factory is expected to be 300,000 vehicles, of which the first and second phases have a production capacity of 150,000 vehicles.
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