Recently, NEV electric compressor provider CBET received tens of millions of CNY from the strategic round of financing, which will be used for product R&D and market expansion.
On December 7, NEV electric compressor provider Hunan CBET New Energy Technology Co., LTD (hereinafter referred to as CBET) (Chinese: 贝特新能源) announced the completion of its strategic round of financing worth tens of millions of CNY, which was invested by Shenzhen Chenfeng Private Equity Fund Management (Chinese: 深圳辰峰私募股权基金管理有限公司). The fund will be used for new product R&D and market expansion.
CBET, founded in 2016 and based in Hunan province, is a developer, manufacturer, and marketer of electric compressors applied in new energy vehicles (NEV), including electric vehicles (EV) and hybrid electric vehicles (HPEV).
This is the second round of financing after the foundation of CBET. Also, CBET's vice president Xinrong Zhu stated that the company's valuation increased dramatically after this financing round.
CBET's major products include BET27, BET34 and BET46, all of which realize product intelligence, including remote control, OTA upgrade and automatic diagnosis.
Currently, CBET supplies products to passenger cars like Changan and Letin and commercial cars like XUGONG P9 and Sichuan Hyundai.
In the future, CBET will continue to focus on new energy products and increase investment in product R&D, maintaining competitiveness nationwide.