CATL’s Chassis Subsidiary Secures First Funding at $1.26 Billion Valuation

CATL Intelligent was established in 2021, focusing on the research and development of CIIC technology.

This funding round was conducted through a targeted invitation format with a minimum investment threshold of RMB 100 million ($13.9 million), primarily involving large state-owned capital institutions as investors.

According to a report by 亿欧汽车 on July 28, CATL Intelligent Technology (Shanghai) Co., Ltd. (referred to as “CATL Intelligent”) recently launched its first round of external financing. The financing scale was RMB 2 billion ($280 million), with a pre-investment valuation of approximately RMB 9 billion ($1.26 billion).

This financing round was conducted through a targeted invitation format, with a minimum investment threshold of RMB 100 million ($13.9 million). The primary investors were large state-owned capital institutions. An informed source revealed that the RMB 9 billion ($1.26 billion) valuation was “not significantly different from net asset value,” and that the first-round investment was “certainly the most cost-effective,” highlighting state capital’s bet on core new energy technologies.

Founded in 2021, CATL Intelligent focuses on the research and development of CATL integrated intelligent chassis (CIIC) technology. This technology achieves a high level of integration of the battery, electric drive, suspension, and braking systems through cell-to-chassis (CTC) architecture. This forms an independent functional zone and enables the separation and decoupling of the upper and lower vehicle bodies via standardized interfaces.

A brief review of the technology’s commercialization progress:

• First Collaboration: In August 2024, the Neta S shooting brake became the first model announced to feature the CIIC chassis. However, due to operational issues at its company, it failed to enter mass production as scheduled.
• Safety Upgrade: In December of the same year, CATL Intelligent launched the high-safety “Rock Solid Chassis,” with Avatr as the inaugural brand to adopt it.
• Partnership Expansion: CATL has now reached skateboard chassis cooperation agreements with automakers including Avatr, JAC Group, BAIC New Energy, and Changan Mazda, extending the technology to multiple mainstream brands.

For a long period, CATL Intelligent remained a wholly-owned subsidiary of CATL. Although it introduced new investment entities in November 2023, these were all affiliated companies of CATL. It was only recently that CATL Intelligent opened its doors to external investors.

With the completion of this financing round, CATL Intelligent will accelerate capacity expansion and technological iteration to provide more efficient electrification solutions for its partner automakers.