PATEO Car Networking completes financing of over RMB 1 billion, with the company's valuation increased to RMB 8.6 billion

Before officially submitting its prospectus, PATEO successfully completed a round of financing of more than 1 billion yuan in the first half of this year, raising the company's valuation from 7.1 billion yuan at the end of 2023 to 8.6 billion yuan. Although PATEO, as a Tier 1 supplier, has benefited from the trend of intelligent vehicles, it has not yet gotten rid of the loss situation, just like other car companies such as Nezha Auto.