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Geely-backed electric drive system supplier InfiMotion closes Series A financing

Monika From Gasgoo| March 29 , 2024 17:24 BJT

Shanghai (Gasgoo)- Chinese auto parts supplier InfiMotion Technology announced its Series A financing round had been closed on March 26. Led by China Structural Reform Fund, the fresh round raised for the company hundreds of millions of yuan.

Geely-backed electric drive system supplier InfiMotion closes Series A financing

Photo credit:  InfiMotion

Simultaneously, InfiMotion also inked agreements for an additional Series A+ funding round worth hundreds of millions of yuan with several investment firms, with such investment entities as Wuxi Capital Group Co., Ltd., China Merchants Venture, and China-U.S. Green Fund.

This substantial influx of capital will be instrumental in broadening InfiMotion's business footprint, intensifying investment in product R&D, expanding manufacturing capabilities, and driving key project development, further solidifying InfiMotion's position as a global leader in the new energy electric drive industry.

According to InfiMotion, the company also signed a collaborative agreement valued at a staggering 3 billion yuan with five local industrial chain enterprises in Wuxi city on the same day. This underscores InfiMotion's deep involvement in the local semiconductor, electric motor, and aluminum die-casting industry chains.

Established in December 2021, InfiMotion is a subsidiary of Geely Holding Group, specializing in R&D and manufacturing of high-performance electric drive systems and components. With nearly two decades of expertise in power transmission systems and electronic components, the company's team is well-equipped to drive innovation in the industry.

InfiMotion has already in-house developed and mass-produced a range of products including compact 400V electric drives, high-performance 800V electric drives, hybrid generators/drive motors, dual-motor controllers, and reducers. These products have been supplied to Geely's Lynk & Co brand, GEOME range, and NordThor powertrain-enabled vehicles, with an expected annual output value of nearly 3 billion yuan this year.

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