Recently, Zhejiang Fute Technology Co., Ltd. announced the completion of a strategic round of financing of 100 million yuan, which was invested by the industrial investment institution Hubei Xiaomi Yangtze River Industry Fund Partnership (Limited Partnership), which is also another important industrial capital of Fute Technology after the strategic investment of GAC Capital, WEILAI Capital, Anji Production and 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.
Fute Technology is a focus on new energy vehicles high-voltage core components of the technology research and development and intelligent manufacturers, the company has been supported by a number of international first-line automakers models, with large-scale mass production and supporting landing capabilities.
The investment in Fute Technology, the core supplier of new energy vehicle charging, is a further improvement of Xiaomi's car manufacturing layout, which also prepares for the roll-off of its first model in 2024 and mass production.
Sun Changxu, managing partner of Xiaomi Production and Investment, said: Fute Technology's products are the core components of the new energy vehicle charging scenario, and we are optimistic about the company's technical accumulation in the field of high-voltage power supply and the continuous pursuit of product quality. It is expected that through this investment, Fute will become a world-class core component manufacturer of new energy vehicles.
Since Xiaomi officially announced the car in March 2021, Xiaomi has made frequent moves in the automotive field, and has invested in nearly 40 automotive industry chain enterprises, covering many core technology areas of the industrial chain such as intelligent driving, in-vehicle chips, and power batteries.
In November 2021, Xiaomi Automobile signed a relevant cooperation agreement with the Administrative Committee of Beijing Economic and Technological Development Zone and officially settled in Beijing Economic and Technological Development Zone.
According to the plan, Xiaomi Automobile will build a vehicle factory in two phases in the Beijing Economic and Technological Development Zone, with a cumulative annual output of 300,000 vehicles, of which the first and second phases of production capacity are 150,000 vehicles, and the first car will roll off the production line and achieve mass production.