Beijing (ZXZC)- China’s chassis-by-wire developer, Global Technology, announced the completion of its pre-C financing round, raising hundreds of million yuan. 

Photo credit: Global Technology

The round was jointly participated by China Securities International, Hygoal Capital, and others. The company’s existing shareholder, Xinding Capital, increased its investment in the company through the round. 

Upon completion of the round, Global Technology will accelerate the production of hydraulic decoupling GIBC (one-box), which is expected to reach a volume-production scale by the end of 2022. Meanwhile, the company plans to put three automatic production lines to work by the end of the year, ensuring the supply capability of high-performance linear magnetic valves, hydraulic component units, and electric control assembly EHCU.

Notably, the company currently has two production lines dedicated to magnetic valves, achieving an annual production capacity of 5 million units. 

As one of the main players in the field of chassis-by-wire in China, Global Technology has successively realized large-scale production of mature products such as EPB, ESC, ESC+GIBS (two-box), among which the order of ABS/ESC has increased to the 1-million-set level, while the order of EPB brake assembly has reached hundreds of thousands of sets.