Core Insights - CATL's subsidiary, Times Intelligent, is initiating its first round of external financing, aiming to raise 2 billion yuan, with a pre-investment valuation of approximately 9 billion yuan [2][6] - This financing marks a significant step for CATL as it opens up equity to external capital for the first time, moving beyond its previous reliance on affiliated companies [2][6] - The move is part of CATL's strategy to accelerate its chassis business, particularly the CIIC (CATL Integrated Intelligent Chassis), which integrates battery and electric drive systems [3][6] Financing Details - The financing round is conducted through targeted invitations, with a minimum investment of 10 million yuan, primarily attracting large state-owned enterprises [2] - Prior to this, Times Intelligent had only engaged with CATL's affiliated companies for investment [2] Business Strategy - CATL is actively expanding its "sliding chassis" business, which is seen as a new growth avenue amid a decline in its domestic market share, which fell from 52.1% in 2021 to 43.4% in the first half of 2025 [6] - The company has established partnerships with several automotive manufacturers, including Avita, Jiangqi Group, BAIC New Energy, and Changan Mazda, to promote the sliding chassis technology [7]

Group 1 - The core point of the article is that CATL's subsidiary, Times Intelligent, is seeking external financing for the first time, with a target of 2 billion yuan, primarily from large state-owned capital [1] - Times Intelligent focuses on providing battery-centric skateboard chassis products and technology services, with its main product being the CIIC integrated intelligent chassis, which integrates battery and chassis structure [3] - The skateboard chassis design allows for a decoupled structure, enabling car manufacturers to easily change the upper body, which can significantly reduce development costs by 60% to 70% and shorten production time from 36 months to 12-18 months [3] Group 2 - The skateboard chassis concept is not new, with competitors like Youpao Technology already delivering customized chassis products to clients in the U.S. [4] - The industry faces challenges regarding the production of chassis by third parties, which may impact car manufacturers' R&D autonomy and supply chain [4] - CATL's market share in the domestic market has declined from a peak of 52.1% in 2021 to 43.4% in the first half of 2025, making the expansion into skateboard chassis a crucial strategy for finding new growth opportunities [4]

Group 1: Company Developments - JD Group has made a voluntary public acquisition offer to Ceconomy AG, the parent company of MediaMarkt and Saturn, at a cash price of €4.60 per share, aiming to establish a strategic investment partnership [4] - BYD reported that its overseas sales of passenger cars and pickups reached 470,086 units in the first half of 2025, contributing to a total sales figure of 2,145,954 vehicles [4] - WeRide has partnered with Uber to expand its Robotaxi service in Abu Dhabi, expecting to double its order volume and cover nearly half of the core areas of Abu Dhabi [5] Group 2: Industry Trends - China's trade with Central and Eastern European countries reached a record high of 522.88 billion yuan in the first half of 2025, marking a year-on-year increase of 6.8% [8] - The export growth to Africa was 23% in the first half of 2025, making it one of the hottest markets for China's foreign trade [8] - The solid-state battery sector is experiencing higher capital interest than industrial readiness, with commercial production expected to begin in small scale by 2027 [8] Group 3: Investment and Financing - Zhiyuan Robotics has received strategic investment from LG Electronics and Mirae Asset, marking LG's first foray into the field of embodied intelligence [10] - CATL's subsidiary, Times Intelligent, has initiated its first round of financing with a target of 2 billion yuan and a pre-investment valuation of approximately 9 billion yuan [10] - Anthropic is negotiating a new funding round that could raise between $3 billion to $5 billion, potentially increasing its valuation to $170 billion [10]

Core Viewpoint - The article discusses various companies' international expansion efforts and strategic partnerships, highlighting significant developments in the technology, automotive, and trade sectors. Group 1: Company Developments - JD Group announced a voluntary public acquisition offer for Ceconomy AG at €4.60 per share, aiming to establish a strategic investment partnership [5] - BYD reported overseas sales of 470,086 units of passenger cars and pickups in the first half of 2025, contributing to a total of 2,145,954 vehicles sold [5] - WeRide expanded its Robotaxi service in Abu Dhabi in collaboration with Uber, expecting to double its order volume [5] - Alibaba's Amap launched ride-hailing services in 24 countries across Europe and Asia, partnering with Bolt to meet demand in major cities [6] - ZhiYuan Robotics is planning to enter overseas markets, focusing on localization and globalization strategies [7][12] Group 2: Trade and Economic Relations - The U.S. imposed "reciprocal tariffs" ranging from 10% to 41% on multiple countries, with Syria facing the highest rate at 41% [8] - China’s trade with Central and Eastern European countries reached a record high of 522.88 billion yuan in the first half of the year, growing by 6.8% year-on-year [9] - China's exports to Africa surged by 23% in the first half of the year, making it one of the fastest-growing markets for Chinese trade [10] Group 3: Industry Trends - CATL discussed the current state of solid-state batteries, indicating that while capital interest is high, true commercialization may not occur until around 2030 [10] - The 2025 World Artificial Intelligence Conference concluded with an expected procurement amount of approximately 16.2 billion yuan [11] - Chinese self-developed games are projected to account for 33.62% of overseas sales revenue by 2024, reflecting the industry's globalization efforts [11] - Anthropic is negotiating a new funding round that could raise its valuation to $170 billion, indicating strong investor interest in AI companies [13]

Core Insights - CATL's "skateboard chassis" business has made progress with the launch of its first external financing round, aiming to raise 2 billion yuan, primarily from large state-owned enterprises [1][2] - The skateboard chassis is seen as a new growth point for CATL, especially as its domestic market share has declined from 52.1% in 2021 to 43.4% in the first half of this year [2][4] - The skateboard chassis, known as CIIC (CATL Integrated Intelligent Chassis), integrates the battery into the chassis design, allowing for a modular approach to vehicle manufacturing [2][4] Financing and Business Development - CATL's subsidiary, Times Intelligent, is opening up equity to external capital for the first time, indicating a strategic shift to attract outside investment [1][2] - The financing round is set to be completed soon, although specific valuation and details have not been disclosed [1] Product Features and Market Potential - The skateboard chassis allows for significant cost savings, with CATL claiming that manufacturers can reduce development costs by 60% to 70% and BOM costs by about 5% [4] - The product is designed to shorten vehicle development cycles from traditional 36 months to 12-18 months, addressing common industry pain points [4][5] - Several automakers, including Neta Auto and Avita, have shown interest in the skateboard chassis, with expected model launches between 2026 and 2027 [5] Industry Context and Challenges - The skateboard chassis concept is not new, having been proposed by General Motors in 2002, and has seen interest from various startups and established companies [6] - There are concerns regarding the reliance on third-party production for core automotive technologies, which may impact manufacturers' autonomy and supply chain dynamics [6][7] - Building trust with manufacturers and overcoming promotional challenges for the skateboard chassis will test CATL's strategic capabilities [7]

Core Viewpoint - CATL is accelerating its skateboard chassis business, focusing on commercial vehicles and specific scenarios like Robotaxi, aiming for breakthroughs in the mid-to-low-end passenger car market [1][15]. Financing and Business Development - CATL's subsidiary, Times Intelligent, is in the process of raising 2 billion yuan in its first external financing round, with a pre-financing valuation of approximately 9 billion yuan [2]. - Times Intelligent, established in 2021, specializes in battery-centric skateboard chassis products and services, and is now opening up equity to external capital for the first time [2][3]. - The financing is driven by the need to alleviate financial pressure due to limited group funding and underperformance in expected sales from partnerships, particularly with Nezha Auto [5]. Technological Advancements - The skateboard chassis, known as CIIC, integrates battery and electric drive systems, allowing for a decoupled design that can adapt to various vehicle bodies [3]. - Recent collaborations with automakers like BAIC, JAC, and Changan Mazda are expected to yield new models by 2026-2027 [7]. Strategic Considerations - CATL's entry into the skateboard chassis market is motivated by the need to bundle its battery business and counteract declining growth rates in its core battery segment [7]. - The company's gross margin has decreased from 43.7% in 2016 to 24.4% in 2024, with market share dropping from 52.1% in 2021 to 43.4% in the first half of 2023 [7]. Market Challenges and Opportunities - The skateboard chassis concept, while historically facing challenges, is now seen as having potential due to its ability to shorten development cycles and reduce costs for electric vehicles [12][13]. - However, third-party chassis companies face challenges in gaining acceptance from traditional automakers, who may prefer to develop their own chassis for differentiation [14]. Future Prospects - CATL is targeting commercial vehicles, specific scenarios like Robotaxi, and cost-effective mid-to-low-end passenger cars as key areas for growth [15]. - A strategic partnership with T3 Mobility aims to advance the development of Robotaxi based on CATL's skateboard chassis platform [15].

宁德时代正加速推进其滑板底盘业务。7月28日，有市场消息传出，宁德时代旗下时代智能开启首轮外部融资，融资规模为20亿元，投前估值约90亿元。据 悉，此轮融资未完全公开，而是采用定向邀请方式，要求"1亿起投，目前参与的多为大国资"。 经济观察报向宁德时代内部人士求证，对方确认时代智能融资事宜正在推进，首轮融资即将完成。其表示，本轮融资由知名市场化投资机构领投，新能源产 业资本和国有资本共同参与。不过，对于具体的估值和融资细节，该内部人士表示暂不便对外透露。 时代智能全称为"宁德时代（上海）智能科技有限公司"，成立于2021年，注册资本2.5亿元，专注于提供以电池为核心的滑板底盘相关产品和技术服务。此 前，时代智能长期作为宁德时代的全资子公司运营，2023年11月虽引入新投资主体，但均为宁德时代关联公司。此次融资是时代智能首次向宁德时代体系外 资本开放股权。 滑板底盘又称CIIC（CATL Integrated Intelligent Chassis），是以电池/电驱为核心，通过CTC（Cell to Chassis）技术实现高度集成的电动底盘。它将电池、电 动传动系统、悬架、刹车等部件提前整合在底盘上，通过预留 ...

Core Insights - Times Intelligent is set to complete its first round of financing, led by a well-known market investment institution, with support from new energy industry capital and state-owned capital, resulting in a post-investment valuation exceeding 10 billion yuan [1][2]. Group 1: Financing and Strategic Developments - The financing will be utilized for the mass production of its skateboard chassis model and the development of new technologies for scenarios like RoboX [2]. - Times Intelligent has signed a strategic cooperation agreement with T3 Mobility to advance Robotaxi development based on the Ningde Times Panshi skateboard chassis platform, which simplifies the entire process from design to mass production [2]. Group 2: Market Expansion and Regulatory Progress - The global Robotaxi market is projected to exceed 834.9 billion yuan by 2030, with China's Robotaxi market expected to reach 44.5 billion USD by 2035, reflecting a CAGR of 96% from 2025 to 2035 [4]. - Recently, the Shanghai government issued new intelligent connected vehicle operation licenses, allowing companies like Pony.ai and Baidu to begin public Robotaxi services in designated areas [3]. Group 3: Competitive Landscape - While companies like Tesla have certain advantages in the Robotaxi sector, Chinese autonomous driving firms are expected to leverage their technical capabilities and operational experience as core strengths in the competitive landscape [4].

Core Viewpoint - Times Intelligent is set to complete its first round of financing, with a post-investment valuation exceeding 10 billion RMB, supported by well-known new energy industry capital and state-owned capital, aimed at mass production of its skateboard chassis project and new technology development for scenarios like RoboX [1] Group 1: Company Overview - Times Intelligent, officially known as Ningde Times (Shanghai) Intelligent Technology Co., Ltd., was established in July 2021 with a registered capital of 2.5 billion RMB, primarily focusing on skateboard chassis as a subsidiary of Ningde Times, which holds 80.01% of the shares [1] - The company has a "531" plan, aiming to build a team and set overall planning in the first year, launch products in the third year, and support 2-3 vehicle manufacturers annually with skateboard chassis from the fifth year [1] Group 2: Product and Technology - The skateboard chassis includes essential components such as drive, brake, steering, and battery, featuring a split design that allows for independent development of the upper and lower bodies, making it adaptable for various vehicle types [2] - The skateboard chassis utilizes Cell To Chassis (CTC) technology, integrating battery cells directly into the chassis, which provides more space for battery installation and reduces development costs for new vehicle models to one-third or one-fourth of traditional methods [2][3] Group 3: Market Position and Challenges - Times Intelligent has established partnerships with several companies, including BAIC, JAC, and Dongfeng Nissan, indicating a growing market presence [1] - Despite the advantages, the promotion of skateboard chassis faces challenges, such as building trust with traditional vehicle manufacturers who may need to adjust their perspectives on integrating this new technology [4]

Core Viewpoint - CATL is entering the "prefabricated vehicle" market through its subsidiary, CATL (Shanghai) Intelligent Technology Co., Ltd., which has recently initiated its first round of external financing with a scale of 2 billion yuan, leading to a post-investment valuation exceeding 10 billion yuan [2]. Group 1: Company Overview and Technology - CATL Intelligent was established in 2021, focusing on battery-centered skateboard chassis products and technology services, with the skateboard chassis seen as the best platform for small-batch, scenario-based vehicle manufacturing [3][6]. - The skateboard chassis integrates core modules such as battery, motor, electronic control, steering, braking, and suspension, adopting a battery-to-chassis integration approach [4]. - CATL proposes the CIIC (CATL Integrated Intelligent Chassis) solution, featuring a decoupled design that allows automakers to quickly develop various models on a unified chassis architecture, significantly reducing R&D cycles and initial costs [3][7]. Group 2: Market Strategy and Collaborations - CATL aims to develop both large (CIIC-L) and small (CIIC-S) platform vehicles, planning to introduce one new platform each year for B, C, D, and A-class vehicles [7]. - Collaborations with partners such as BAIC Group and JAC Motors are underway to advance the CIIC skateboard chassis project, with BAIC being one of the earliest companies to explore skateboard chassis technology [7]. - CATL's partnership extends to joint ventures with both domestic and international automakers, including a collaboration with Changan Mazda to develop new energy vehicles based on the skateboard chassis [7]. Group 3: Future Directions and Challenges - The company is exploring the integration of skateboard chassis with battery swapping, range extension, and vehicle-to-grid (V2G) technologies, collaborating with smart driving companies to enhance the safety and reliability of Robotaxi services [8]. - Despite maintaining a leading market share in power battery installations at 43.05%, CATL's share has slightly decreased by 3.33% compared to the same period last year, prompting the company to strengthen ties with automakers [8]. - The Rock Solid chassis has passed rigorous safety tests, demonstrating resilience under extreme conditions, but challenges remain in advancing technologies necessary for high-level autonomous driving [10][11].