Tongyu Auto Completes RMB 500 Million Series B Financing

Recently, Shanghai Tongyu Automotive Technology Co., Ltd. ("Tongyu Auto") announced the completion of a round B financing of more than RMB 500 million, setting a new record for financing in the field of domestic drive-by-wire chassis startups. This round of financing attracted many well-known industrial capital and financial investment institutions such as Shenzhen Capital Group, GGV Capital, and BAIC Capital. This round of funds will be used to expand the production capacity of intelligent brake series products, accelerate the development of new products, and strengthen the company's talent system. Tongyu Auto has established cooperative relationships with more than 80 customers and has achieved large-scale mass production in the fields of passenger cars, commercial vehicles, and unmanned vehicles.