Wuxi Xingqu Technology Secures Hundreds of Millions in Series B Financing

Recently, Wuxi Xingqu Technology, a leading company in China's new energy electric drive systems, announced the completion of hundreds of millions in Series B financing. This round of financing was jointly invested by Xilian Integrated Circuit Manufacturing Co., Ltd., a leading company in the semiconductor field, along with market-oriented industrial capital. The funds will be used for the mass production of a new generation of ultra-integrated electric drive systems, the research and development of silicon carbide technology, and global market expansion, marking a significant boost to the localization process of core components for China's new energy vehicles. Strategic synergy will connect the 'chip-electric drive' vertical innovation chain. As a core investor in this round, Xilian Integrated's technological expertise in automotive-grade power semiconductors complements the electric drive system development capabilities of Xingqu Technology. The two parties will collaborate on 800V high-voltage platforms, silicon carbide (SiC) electric control, and the next generation of multi-in-one EDU, accelerating breakthroughs in the power density and efficiency of electric drive systems. In terms of production and technology, Xingqu Technology has introduced several flagship products, including the world's first mass-produced magnesium-aluminum alloy shell dual-motor EDU and the eleven-in-one ultra-integrated EDU, helping Geely Galaxy achieve a milestone of one million sales and enabling Lynk & Co's comprehensive electrification upgrade. Internationally, Xingqu Technology has established deep order cooperation with several leading international luxury automotive groups and auto parts companies in Europe, while also securing mass production partnerships with new Asian car-making forces, quickly expanding into overseas new energy markets. It is reported that Xingqu Technology's Wuxi manufacturing base has set up as many as 26 production lines, currently operating at full capacity, with the third phase of construction expected to be completed by the end of the year, further boosting production capacity. As a result of the deep cooperation between Xingqu Technology and Xilian Integrated, the company is poised to become one of the few international electric drive enterprises that simultaneously master chip collaborative design capabilities, ultra-integrated system development capabilities, and automotive-grade mass production management capabilities. Analysts indicate that the joint development model between Xilian Integrated and Xingqu may become a new paradigm for the internationalization of China's new energy supply chain. Following the entry of industrial capital in the Series B round, Xingqu Technology has initiated plans for subsequent rounds of global financing. It is reported that several well-known European industrial capital firms and leading market-oriented funds are in close discussions with the company, aiming to leverage global market resources through capital ties. Furthermore, Xingqu has made breakthroughs in the European and Southeast Asian markets, and its global layout is expected to become one of the exemplars of technology output for Chinese new energy companies. In conclusion, from assisting Geely Galaxy in creating a million national vehicles to attracting strategic investments from semiconductor giants, Xingqu Technology is accelerating its pursuit with a dual engine of 'technology + capital.' As China's new energy vehicles take to the global stage, this 'Chinese heart' will empower more world-class brands.