Cimc Vehicles participated in the Series C financing of Boriton, strategically laying out the new energy commercial vehicle market

Recently, Boriton Technology Co., Ltd. completed a C-round financing of hundreds of millions of yuan, jointly led by Xinghang Capital, Hefei Rendun and Madun Investment, with co-investment from CIMC Vehicles, Shanghai Science and Technology Investment Co., LTD., Kesheng Capital and Zhongdi Capital. The funds raised in this round of financing will mainly be used for product research and development, market expansion, and the expansion of production bases and sales systems.

As a global leader in high-end manufacturing of semi-trailers and special vehicles, CIMC Vehicles continuously pays attention to the application and innovation of new energy in the field of construction machinery.

Boriton was established in 2016, specializing in the production of clean energy, the research and development, manufacturing and service operation of new energy construction machinery products and heavy-duty trucks, and is committed to providing users with scenario-based green transportation capacity solutions. The company has so far successfully launched a variety of electrified products such as pure electric tractors, pure electric mining trucks and electric loaders, and is at the leading level in the field of heavy truck and construction machinery electrification. In addition, in the field of autonomous driving, the integrated autonomous driving solution for open-pit mining area excavation, loading and transportation developed by Boriton has been applied in many domestic mining areas. Today, Boriton's products continuously meet the demands of heavy-load transportation scenarios, and have won extensive market demand and full recognition from users with the development of new energy and intelligence.

With the advancement of the "dual carbon" strategy and the national new energy policy, the penetration rate of new energy construction machinery and heavy trucks is expected to continue to rise. Under the accelerated growth of the new energy market size, the development momentum of this track is good. At present, the sales of new energy heavy-duty trucks in China have risen against the market trend. According to statistics from the China Automobile Dealers Association, from January to May 2022, a total of 7,677 new energy heavy-duty trucks were sold, a significant year-on-year increase of 488%, showing an explosive growth. Cimc Vehicles will actively embrace technological innovation, practice high-end manufacturing, promote the high-quality development of the road transport equipment industry, and contribute to the realization of the country's "dual carbon" strategic goals.