Recently, Shenzhen Immotor Technology Co., Ltd. (“Immotor”) announced the completion of the C2 round of financing, with a financing amount of hundreds of millions rmb. This round is jointly invested by Utrust Fund, Petroleum Authority of Thailand ("PTT"), Petroliam Nasional Bhd ("Petronas"), Hyberchain co-invested, AI Fund - PKSHA SPARX Algorithm Fund ("ALGO ") with Japanese industrial background, Qingdao Yongwan Private Equity Fund Management Group, and other existing shareholders keep paying up. This round of financing will be mainly used for innovative technology research and development, new product development, international / domestic market expansion and the construction of urban energy network.
 

As the leading investor in this round of investment, Utrust Fund is directly controlled by Guangdong Provincial Government, and the Provincial Department of Finance as the LP. It is the provincial trustee with the largest scale of financial funds and the largest number of funds in Guangdong. Yunyu Hua, who is in charge of this investment of Utrust Fund, said, "Immotor is a leading enterprise engaged in two-wheel power exchange business in Guangdong Province. On the one hand, the business model of two-wheel power exchange saves the carbon emissions of non-standard two-wheel vehicles, and on the other hand, it provides convenient service for the delivery guys, which has high social value and livelihood significance."

Immotor Technology was established in 2015. In 2018, with the insight into the power supply needs of two wheeled electric vehicles with a domestic public ownership of more than 300million and nearly ten million sets of people's livelihood industries, such as express delivery, they released the brand of "Immotor E-power exchange", and for the first time launched a green smart energy network integrating "super battery, smart electricity exchange cabinet, energy management system, APP and big data platform", and quickly laid out two-wheeled electricity business. Up to now, it has covered more than 60 cities across the country, including all super-first-tier cities, first-tier cities, and some second-tier cities, with a cumulative number of service users reaching one million and the total number of power exchanges exceeding 300 million. It has become a leading enterprise in the power exchange industry.

"The power exchange industry has developed and changed very fast in recent years. It has gone through the development path of the traditional industry for more than ten years in over four years. In the process, we have been very persistent in technology research and development. From driving the rise of the whole two rounds of power exchange industry to now, we have realized the full link empowerment of the real-time distribution and logistics industry through safe and efficient power exchange services, and promoted the standardization of the battery industry. The process and the development of battery recycling industry are of great significance to the management of urban electric vehicles and the layout of green energy. " Said Jiaxi Huang, founder of Immotor.

"From product innovation to model innovation, to the innovation of business ecology, the seed of innovation is taking root and bearing fruit." It is reported that not long ago, Immoetor cooperated with Hyperchain, which is also the investor to launch the world's first blockchain power exchange SaaS platform, and the power exchange officially ushered in the "on-chain" era, which solved the problem of "information reliability and trust", and the financial plan of power exchange products will usher in an opportunity; In cooperation with Yinchuan Urban Investment, they signed the "Small Vehicle Green Energy Charging and Replacing Project", and landed the low-carbon inclusive and smart travel solution for the small vehicle green energy charging and replacing plate at the city level, upgrading from the decentralized energy management mode to the structural and systematic urban energy management system, and also exploring a new path for C-terminal power replacement.

Turning to the profit model of power exchange, Yunyu Hua believes that "from a commercial point of view, the intensive use of batteries and the reasonable management of peaks and valleys of power use through the power exchange model can achieve better commercial benefits on the basis of economies of scale."

Jiaxi Huang said that, "Based on the experience and accumulation of domestic power battery R & D and power exchange services, Immotor is working with multiple lines in parallel. With the help of two new investors, PTT and Petronas, Immotor is actively exploring overseas markets. The first phase of cooperation products with PTT was delivered in the middle of 2021 and received positive feedbacks in Thailand; the second phase of products will also be delivered in large scale within the year. This series of products can lay a solid foundation for opening up the global market for the electrification of two wheeled motorcycles. "

As for the next step, Jiaxi Huang said that except for vigorously expanding the international power exchange market, a new generation of power exchange products for the domestic two wheeled vehicle power exchange market and a new consumer grade product for global consumers are going to be launched. On one hand, it will consolidate and optimize the layout and services of the two wheeled power exchange, on the other hand, we should expand our service capacity to enhance our role in the construction of carbon peaking and carbon neutrality. " We want to make use of our technology, products and channel advantages to do more in the field of small new energy from different sub sectors such as photovoltaic, energy storage, charging and switching, portable power supply and so on." He said. 

On the issue of listing, Jiaxi Huang responded that Immotor is open-minded. At present, it has been considering plans in the capital market and will disclose them to the public on the right timing.