Shanghai (Gasgoo)- On January 9, 2025, Bebest (Shanghai) Automotive Electronics Co., Ltd. (BIBO) announced the completion of its Series B funding, which raised for the company over 300 million yuan.
Photo credit: BIBO
The fresh round was led by Puhua Capital, Orient Renaissance Capital, Hang Lung Group, and Baolong Automotive. With the funds, BIBO has made strides in the mass production and delivery of its intelligent braking and suspension products. The company has also firmed up several strategic partnerships and projects in the realm of intelligent steering.
A key highlight of this round is introducing Hang Lung Group as a new strategic investor, which has already collaborated with BIBO on intelligent rear-wheel-steering and steer-by-wire systems. These products have undergone successful testing with nearly ten clients. Besides, Baolong Automotive, as an existing shareholder, continued to invest in this round. The intelligent suspension air supply system, a collaborative effort between Baolong Automotive and BIBO, has entered mass production and garnered robust order volumes within a year.
Currently, BIBO has achieved mass production of its full range of intelligent braking and suspension products. Its intelligent rear-wheel-steering system, steer-by-wire system, and electronic mechanical braking system are in the final testing stage before mass production, with full-scale production set to commence in 2026.
BIBO has developed a comprehensive product portfolio encompassing intelligent braking, steering, and suspension systems, and domain controllers.
BIBO's flagship product, BIBO Integrated Brake Control System (BIBC/One-Box), achieved large-scale shipments in 2024, with deliveries projected to exceed 300,000 sets in 2025. In addition, BIBO so far has delivered over 500,000-set intelligent braking products cumulatively, with monthly deliveries surpassing 40,000 sets.
