Group 1 - CATL's subsidiary, Times Intelligent, has completed its first external financing round, raising nearly 2 billion, with investors including prominent market institutions and state-owned capital [2] - The funds will primarily be used for the mass production of the CATL Rock Solid chassis model and the research and development of the next-generation Rock Solid chassis technology [2] - Since 2024, Times Intelligent has established a diversified cooperation ecosystem covering passenger vehicles and smart mobility, collaborating with multiple domestic brands and overseas companies [2] Group 2 - Times Intelligent focuses on key technologies such as electric vehicle chassis, integrated power systems, and intelligent control, exploring new mobility and business models [3] - The first mass-produced product of the PDC2.0 (Power Distribution Controller) was launched in July, with an annual production capacity planned at 600,000 units [3] - PDC2.0 is a core product of the Rock Solid chassis, designed to enhance the reliability and stability of the vehicle's power system through intelligent distribution and management [3]

Core Insights - CATL Times Intelligent has completed its first external financing round, raising over 2 billion yuan, with investors including prominent market institutions and state-owned capital [1] - Following this financing, CATL Times Intelligent's valuation exceeds 10 billion yuan, marking it as the first "unicorn" in the smart chassis sector [1] - The funds will primarily be used for the mass production of the CATL Rock chassis model and the research and development of the next-generation Rock chassis technology [1] Company Overview - CATL Times Intelligent, established in 2021, is a subsidiary of CATL focused on the research and industrialization of skateboard chassis technology [1] - The company leverages CATL's leading battery technology to create the "CATL Rock chassis," which integrates core components such as the drive system, thermal management system, and intelligent chassis domain control system [1] - The innovative "decoupling of the vehicle body and parallel development" model has garnered significant attention in the new energy vehicle industry due to its high safety, efficiency, and intelligence [1] Industry Collaboration - Since 2024, CATL Times Intelligent has built a diversified cooperation ecosystem covering passenger vehicles and smart mobility, partnering with domestic brands like BAIC and Avita, as well as overseas companies in Southeast Asia, the Middle East, and Europe [2] - The company aims to accelerate the industrialization of the skateboard chassis while promoting the transformation of the global new energy vehicle industry towards standardized architecture, efficient research and development, and open collaboration across the supply chain [2]

Core Insights - The article highlights the upcoming CINE2025 Solid-State Battery Exhibition and Industry Annual Conference, scheduled for November 6-8, 2025, in Guangzhou, with over 200 exhibitors and 20,000 professional attendees expected [2] - It discusses the recent capital increase of CATL's subsidiary, CATL (Shanghai) Intelligent Technology Co., Ltd., raising its registered capital from 2.5 billion RMB to approximately 2.83 billion RMB, marking a 13% increase [2][4] - The article emphasizes the innovative "Rock Solid Chassis" developed by CATL, which integrates battery technology into the chassis, enhancing vehicle safety and efficiency [4][5] Company Developments - CATL Intelligent was established in July 2021, focusing on automotive components, battery manufacturing, and service robotics [3] - The company is primarily owned by CATL, holding a 70.59% stake, with 13 shareholders in total [4] - The "Rock Solid Chassis" is designed to absorb 85% of collision energy, significantly higher than traditional chassis, and has passed rigorous safety tests [4] Product Innovations - The "Rock Solid Chassis" features an integrated design that allows for a reduction in vehicle development time from 36 months to 12-18 months, addressing industry challenges of long development cycles [5] - The chassis is adaptable for various vehicle models and scenarios, promoting a flexible and efficient development process [5] Strategic Partnerships - CATL Intelligent has signed agreements with several companies, including Avita Technology, to develop competitive electric vehicle products based on the "Rock Solid Chassis" [7] - The company has also partnered with various automakers, including Jianghuai and Dongfeng Nissan, to integrate advanced battery systems and chassis technology into their vehicles [9]

Core Viewpoint - CATL is promoting skateboard chassis technology to automotive manufacturers to deepen partnerships amid increasing competition in the battery market, but this new business may be more challenging than anticipated [1] Group 1: Technology Overview - The skateboard chassis, first introduced by General Motors in 2002, separates the vehicle body from the chassis, integrating all driving functions into the chassis [1] - This technology allows automotive companies to avoid significant investments in developing new chassis platforms, lowering the entry barrier for new manufacturers [1] - CATL claims that using its skateboard chassis can enable the development of a new product within 12 to 18 months [1] Group 2: Market Challenges - A multinational automotive parts executive indicated that eight years ago, their company assessed the feasibility of the skateboard chassis in Europe but found insufficient customer demand to justify R&D investments [2] - Potential customers for skateboard chassis are categorized into three groups: manufacturers of delivery vehicles and sanitation equipment, autonomous taxi companies, and passenger vehicle companies looking to reduce development costs [2] - The traditional competitive advantage of automotive companies lies in platform and modular design, and outsourcing chassis technology may lead to a loss of control over vehicle value [2] Group 3: Industry Dynamics - In the current consolidation phase of the Chinese automotive industry, companies struggle to allocate funds for niche model development [3] - The integration of core functions like braking and steering into the skateboard chassis poses challenges for vehicle handling, comfort, and stability, which are critical for differentiation [3] - The need for both standardization and customization in skateboard chassis development complicates the process, as it must cater to various vehicle specifications [3] Group 4: Competitive Landscape - CATL's current signed clients include Avita, JAC, BAIC New Energy, Nezha, and Changan Mazda, indicating the difficulty in expanding its customer base [4] - Other suppliers may face survival challenges as automotive companies also engage in developing skateboard chassis technology, limiting market space for suppliers [4] - Traditional automakers like Volkswagen and Ford are also entering the skateboard chassis market, with Volkswagen's MEB platform integrating battery and motor into the chassis [4] Group 5: Future Trends - As the competition in electric vehicle intelligence intensifies, automotive companies are focusing on smart chassis technology to enhance control over chassis systems [5] - Innovations in smart chassis are centered around steer-by-wire technology, integration with advanced driver assistance systems, and highly integrated designs of wheel motors [5] - Several new energy vehicle companies have launched their own smart chassis brands, indicating a trend towards in-house development of chassis technology [5]