China’s NEV TMS developer Suyan Electronics closes angel round financing

Shanghai (Gasgoo)- Suzhou Suyan Electronics Technology Co., Ltd. ("Suyan Electronics") has successfully completed an angel round of financing with over 10 million yuan raised, according to a press release from the round's leading investor, Xuanyuan Capital.

The funds will be used to accelerate the company's technological advancements and expand production capacity in the next-generation thermal management systems for new energy vehicles (NEVs).

Photo credit: Suyan Electronics

Suyan Electronics specializes in the development of thermal management systems (TMS) for NEVs. The company's leadership team, with nearly two decades of experience in the automotive industry, brings a wealth of knowledge in mass production, quality control, and product delivery.

Thermal management poses significant challenges for NEVs, as their requirements are more complex and stringent than those of traditional internal combustion engine vehicles. As competition in the NEV market intensifies, more models are adopting 800V high-voltage platforms, with ultra-fast charging batteries emerging as the new trend. This shift places greater demands on the performance of thermal management systems.

Suyan Electronics is focused on advancing its core technology—thick film heating. This technology efficiently converts electrical energy into heat through the resistance heating effect by applying current to conductive materials. It holds promise in several areas, including battery heating and cabin heating.

Compared to traditional PTC (positive temperature coefficient) heating, thick-film heating offers high power density, lightweight design, energy efficiency, reliable performance in low temperatures, and cost advantages. This technology has already been adopted by major automakers like Volkswagen, BMW, Mercedes-Benz, and Audi.

Looking ahead, the company has laid out clear plans for growth. In the short term, Suyan Electronics will focus on increasing the market share of its thick-film heaters. In the medium to long term, it plans to expand into heat pump systems, positioning itself as a comprehensive provider of thermal management solutions for NEVs.