Chuangyebang was informed that Beidouxingtong Zhilian Technology Co., Ltd. (hereinafter referred to as: BICV) recently announced the completion of several hundred million yuan in Series A financing. This round of financing was led by a fund under CICC Capital, followed by Zhilai Capital and Houda Investment. The financing funds will be used to develop new markets, research and develop new products and technologies, attract high-level talents, and optimize the industrial ecology.
As a high-tech enterprise specializing in the R&D and production of intelligent and connected automotive electronic products, BICV is the only automotive intelligent and connected product supplier in China that has both the R&D and mass production capabilities of automotive electronics front-loading and the advantages of Beidou’s high-precision positioning and service. At present, the company has nearly 1,800 employees, more than 700 R&D personnel, six R&D centers, and two production bases in Chongqing and Jiangsu.
The development of automobile intelligence requires accurate vehicle location information, and high-precision positioning and navigation have gradually become a necessary condition. Focusing on the “eye of the car”, BICV vigorously promotes Beidou’s high-precision boarding, so that Beidou’s “real-time centimeter-level, post-event millimeter-level” high-precision positioning services are widely used in the field of intelligent networked vehicles.
With cockpit electronics as the core, BICV’s products and services cover the design, development, production and testing of smart cockpits, smart driving and connected terminals.
As one of the core technologies to realize intelligent driving of vehicles, the characteristics of Beidou high-precision fusion positioning technology mastered by BICV are: one is a high-precision fusion positioning terminal that can provide centimeter-level positioning capability; Perception fusion terminal; the third is the intelligent vision/assisted driving central control with intelligent AI function and some ADAS auxiliary functions; the fourth is the intelligent cockpit domain controller with low-speed automatic driving function at the same time.
On this track, BICV has formed the main business of “smart cockpit and interactive products”, and the two innovative businesses of “intelligent driving and connected products” and “software engineering services”. The company has more than 400 patents and intellectual property rights, and more than 60 invention patents. Major customers include Changan, Geely, SAIC Volkswagen, SAIC-GM, Pioneer, BAIC, Hongqi, Chery, SAIC-GM-Wuling, Great Wall, Ford and other domestic and foreign mainstream car companies.
This round of financing further reflects the market’s high attention to the field of intelligent connected vehicles and the recognition of BICV’s independent research and development capabilities. In response to this round of financing, Xu Linhao, chairman of BICV, said: How to go from high-speed growth to high-quality development, capital will continue to increase the integration and innovation of BICV’s technology, management, services, and business models, and gather momentum to help the long-term development of enterprises. In view of the investment enthusiasm in the market, the company will complete another round of financing within this year as needed.
Liu Peng, executive general manager of CICC Capital, believes that the electrification, intelligentization and networking of vehicles is a historic opportunity for China’s auto industry to achieve overtaking on curves. At present, my country’s electric vehicle industry chain represented by complete vehicles and batteries is rapidly rising around the world. The intelligent cockpit is the key to realizing the intelligent network connection of automobiles and the integration of driving and cockpit domains, and it will definitely face a broad space for development.
BICV is one of the few domestic targets with independent R&D and iteration capabilities in the field of Beidou + intelligent networked vehicles. We are optimistic about the company’s business layout of ‘one body and two wings’. As the industry enters an outbreak period, BICV can rely on the advantages of Beidou’s high-precision positioning to achieve industry catch-up. We expect BICV to create a new situation of rapid revenue growth and continuous improvement of profits.
In the future, it is foreseeable that BICV’s unremitting pursuit of a better and smarter driving experience will surely arouse countless waves of innovation and continuously enrich our intelligent travel life.
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