On October 14, Yoyo Technology, a public company of new intelligent electric vehicles, announced that the company has completed the Pre-A+ round of financing led by Boyuan Capital, a subsidiary of Bosch.
According to the information of Tianyancha, this is the third financing that Youpao Technology has received since its establishment in April 2021. Previously, including Wang Lip, founder of Horizon and president of Fosun Automotive Technology Group, Gu Junli, an autonomous driving expert, and well-known experts and investment institutions in the industry such as Matrix Partners China and Zhen Fund, all participated in its angel round and Pre-A round of financing.
It is difficult to imagine that a company of more than 100 people can be recognized by a number of "bigwigs" in the industry in only half a year after its establishment, but it is not difficult to see its shareholder information that Yo-Run Technology was created by Li Peng, the head of the former Great Wall high-end electric vehicle brand "Salon", and the above-mentioned independent investors and institutions almost all originated from their personal "circle of friends".
It is understood that before the establishment of Youpao Technology, Li Peng has been engaged in the automotive and technology industry for more than 20 years, from foreign-funded first-line Tier1 to the industry's leading artificial intelligence enterprises, which have unique insights in intelligence.
From the perspective of personal resume, Li Peng served as the director of the intelligent transportation business unit of Continental Group and the director of the infotainment and intelligent communication business unit in China; later joined the artificial intelligence start-up Horizon as the general manager of the intelligent driving division.
At the beginning of 2019, Li Peng joined Great Wall Motor as vice president, and in the same year founded the technology company Xiandou Intelligent to provide support for the transformation of the Great Wall Intelligent cockpit.
In April 2020, Great Wall added a first-level department "Digital Center", and Li Peng served as CDO (Chief Digital Executive Officer), responsible for the business management of Great Wall Motor's Digital Center, which includes almost all automotive digital business, including intelligent driving, intelligent cockpit, digital marketing platform, data middle office, user operation platform, etc.
In December 2020, Li Peng announced that he would step down as CDO of Great Wall Motors and move to a project that was then known as "SL". The SL project (i.e. Sharon Zhixing) was operated by Shanghai Sharon Zhixing Industrial Co., Ltd., and Li Peng, as the founding person in charge of Sharon Zhixing, reported directly to Wei Jianjun, chairman of Great Wall Motors.
However, just 3 months later, Li Peng chose to leave the Great Wall and established today's Yo-Yo Technology based on his own concept of vehicle intelligence and scene car building.
According to official information, Yo-Pao Technology will upgrade the traditional "vehicle integrated development" to "upper and lower split development", and the "UP super chassis" developed by it has the ability of hardware standardization and software platform, which can enhance the convenience of research and development and manufacturing to a certain extent, shorten the vehicle development cycle, and reduce manufacturing costs. It is estimated that the application of the "UP Super Chassis" can shorten the vehicle development cycle to 1 year, and the research and development cost can be reduced by up to 60%.
It is this cutting-edge layout that attracts Bosch to the game. In addition to capital cooperation, Yo-Run Technology has also reached a strategic cooperation with Bosch China and the two sides will carry out a series of technical cooperation in the field of integrated chassis to support the research and development of "UP Super Chassis".
At this stage, under the trend of intelligent car manufacturing, the value of the vehicle supply chain has changed, with the improvement of automobile modularization and intelligence, the independent car manufacturing mode of chassis and body decoupling has become possible, and several overseas start-up enterprises have stepped into the "super chassis" track and released related products, including many cooperation cases with heavyweight vehicle companies. Focusing on China, the "super chassis" is still in the emerging concept stage, and Yo-Run Technology seems to have become a forerunner with full potential in this industry.
Some insiders believe that "more than half of the BOM cost of smart electric vehicles is concentrated in the power chassis - which also makes it possible to give birth to a new species of industry in the field of super chassis." Similar point of view, Li Peng, founder of Yo-Pao Technology, also mentioned: "For future mobility, there will be more companies with different backgrounds participating, and automobiles are a high-barrier-entry, high-integration industry." Yo-Pao Technology hopes to empower more scene owners through the ability of 'UP Super Chassis' and achieve 'car-making freedom' in the future."