Greater Bay Technology, the R&D and manufacturing company of extremely fast charging power battery and next generation energy storage, bagged CNY 1 billion from Series A financing.
Electric car lithium battery pack and power connections
Greater Bay Technology (Chinese: 巨湾技研), hereinafter referred to as "GBT", announced the completion of nearly CNY 1 billion Series A financing.
Several well-known domestic investment institutions participated in this round of investment, and the company also received additional investment from the old shareholders. Tencent's investment is listed in the paper of investors, which has made waves in the industry. And it is reported that this is Tencent's debut in the power battery track.
After the completion of this round of financing, GBT will continue to strengthen the research and development of XFC (eXtreme Fast Charging) technology, accelerate the production capacity of XFC batteries, and actively promote the XFC super-charging ecology.
Specifically, GBT will focus on the construction of the first phase of the headquarters and R&D center and the construction of cooperative production capacity.
GBT plans to reach 120GWh capacity by 2025, with multiple locations in Central China, South China, Southwest China and North China. At the same time, GBT will continue to integrate multiple industrial resources and take the Greater Bay Area as the starting point to actively promote the XFC supercharging eco-promotion.
Founded in September 2020, Greater Bay Technology is the first mixed-ownership technology innovation company incubated within GAC Group, jointly funded by GAC Group, GAC Capital, GAC Research Institute's pioneering technology team and a third-party strategic partner shareholding platform.