Xinwanda Power Technology raises RMB 1.65 billion

Xinwanda Power Technology raised RMB 1.65 billion in its latest round of financing, with a valuation of approximately RMB 36 billion. The company was founded in 2014, and has raised a total of RMB 13.82 billion since its angel round in August 2021. Investors include IDG Capital, Cornerstone Capital, Huayou Holdings, Shenzhen Capital Group, National Green Development Fund, China International Capital Corporation, and other leading investment institutions, as well as leading automakers such as Dongfeng, SAIC, GAC, and NIO.