Nasen Technology received RMB 500 million in Series C financing

Shanghai Nasen Automotive Electronics Co., Ltd. (hereinafter referred to as "Nasen Technology"), a local intelligent wire-controlled chassis manufacturer, announced the completion of a C round of financing of 500 million yuan. This round of financing was jointly led by well-known domestic investors BOC Investment, CATL, SDIC, and Hillhouse Capital. It is reported that this round of financing will be used by Nasen Technology to increase the development, industrialization and customer service capabilities of new products for wire-controlled chassis and enhance the core competitiveness of high-quality delivery. The cumulative shipments of NBooster intelligent braking system have exceeded 100,000 sets. In 2022, NBooster intelligent braking system and ESC electronic stability control system are expected to reach the level of hundreds of thousands of units. Nasen Technology mass-produced the first NBooster wire-controlled braking product in China in 2018, and successfully installed it on China's first L4 driverless bus "Apollo". At present, its products have also been recognized and cooperated with many mainstream vehicle manufacturers and autonomous driving companies such as BAIC New Energy, BYD, Changan, Great Wall, Baidu, etc. So far, there are more than 30 supporting development projects.