Former Huawei executives re-started their businesses to build cars, and Niu Chuangxin Energy received 500 million yuan in Series A financing
Headline news On November 15, Li Yinan, the founder of Mavericks electric car, started his business again and officially released the new brand of NIUTRON. It is reported that the brand focuses on smart high-end new energy vehicles and has completed a 500 million yuan A round of financing, led by IDG and COATUE.
According to the data, the NIUTRON project was established in November 2018. The brand is headquartered in Beijing, Shanghai has established a R&D center, and the R&D and intelligent manufacturing base is located in Changzhou. The company’s core R&D team is close to 1,000 people, all from the mainstream at home and abroad. First-tier automobile companies have an average working life of more than 10 years.
According to Li Yinan, NIUTRON’s new car is named “Ziyoujia”. It is a medium and large SUV. It is currently undergoing commissioning and installation. It is planned to be produced in small batches in March next year and will be officially launched in September next year.
As the founder of NIUTRON, the public is no stranger to Li Yinan. Li Yinan graduated to Huawei at the age of 23 and became the youngest vice president at the age of 27. He was once recognized as the successor of Huawei. After two entries and two exits from Huawei, Li Yinan successively held positions such as Baidu’s chief technology officer, CEO of Infinite Xunqi, and partner of Jinshajiang Venture Capital, and then started his own business.
In 2015, it established Niu Dian Technology (Mavericks Electric), which became a dark horse in the market under the pressure of Emma, Yadi and other famous players. Four years later, it landed on Nasdaq, and its current market value is US$2.006 billion.
The relevant person in charge stated that, except for the co-founder Li Yinan, “Niu Chuangxin Energy Technology has no direct relationship with Mavericks Electric.” Li Yinan’s venture in Niu Chuangxin Energy Technology is not a continuation of Mavericks Electric. Niu Chuangxin Energy Technology and Xiaoniu Electric are completely separated and operated independently.
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