Gasgoo Munich- Lingdong Technology, a player in the new-energy vehicle thermal management sector, announced on March 30 that it has closed an A+ financing round worth hundreds of millions of yuan. Proceeds will fuel core technology R&D, expand smart manufacturing production lines, drive global market expansion, and integrate the industrial chain ecosystem.
Image Source: Lingdong Technology
Founded in 2021 and commencing formal operations in 2023, Lingdong Technology has established a "system + software + product" triad for NEV thermal management. Leveraging AI-driven intelligence and integrated modularization, the company delivers tailored solutions to its clients.
In terms of market positioning, Lingdong Technology has carved out an edge in the commercial vehicle sector, specifically medium and heavy trucks. Its client roster includes over a dozen heavy-duty truck makers such as FAW Jiefang. The company is also expanding into light trucks, large vans, and passenger vehicles, serving NEV makers including Leapmotor, Changan Deepal, and SAIC Maxus.
Following this round, Lingdong Technology plans to step up R&D investment in core products such as thermal management integrated modules, smart domain controllers, and water cooling units. The company aims to accelerate the iteration of next-generation products with high technological barriers while making early moves into thermal management systems for emerging fields.
On the production front, Lingdong Technology is boosting capacity at its Hangzhou Qiantang and Suzhou Zhangjiagang bases. It also aims to ensure the completion of its third plant in Jinhua Yongkang and fourth plant in Guangzhou Baiyun within the year. Once operational, these facilities will deliver an annual capacity of 2 million smart domain controllers, 1 million thermal management integrated modules, and 200,000 water cooling units to meet growing order demand.
Zhang Dongbin, founder of Lingdong Technology, said the introduction of both financial and industrial investors will bolster the company's performance growth. By 2025, the company aims to hit the targets outlined in its business plan, achieve breakthroughs in commercial and passenger vehicle partnerships, and secure designations for eco-friendly, low-carbon refrigerant products from key clients. Looking ahead to 2026, Lingdong Technology will continue to prioritize technological innovation as it builds out its NEV thermal management system portfolio.
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