Zhixiang Unlimited Technology is engaged as the developer of battery charging facilities for an e-bike battery joint venture. Under a contract signed with Zhongheng Electric, Zhixiang will build charging infrastructure to support the JV's shared-battery service. The JV was formed by Hello Chuxing, Contemporary Amperex Technology (CATL) and Ant Financial and previously committed about USD1 billion to establish the business. The venture recently secured CNY200 million (USD28.3 million) from Zhongheng to advance charging services, which relates to Zhixiang's deployment work. Zhixiang's immediate plans center on deploying urban battery-replacement stations to enable the shared-battery model for electric bikes. Parties said the collaboration will bolster technology, resources and channel reach as the shared-battery model targets a large market opportunity in China.

Total raised

$28M

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2020