2025-01-09
On January 9, 2025, BIBO (Shanghai) Automotive Electronics Co., Ltd. (hereinafter referred to as "BIBO") officially announced the completion of over 300 million yuan Series B financing. This round of financing was jointly invested by Puhua Capital, Oriental Jiafu, Henglong Group, Baolong Technology, and others. After this round of financing, BIBO has solidified the mass production and delivery of its intelligent braking and intelligent suspension products, and further achieved strategic cooperation and project implementation in the field of intelligent steering, leading the integrated development of smart chassis XYZ three-axis.
In this round of financing, BIBO introduced strategic investor Henglong Group. The two parties have deepened their cooperation on products such as the intelligent rear-wheel steering system BRWS and the pure wire-controlled steering system BSBW, which have completed testing in nearly 10 clients. Meanwhile, the intelligent suspension air supply system BAS, developed in collaboration with Baolong Technology, achieved mass production within just one year and has abundant orders. Baolong Technology, as an existing shareholder, continued to invest in this round, further strengthening the strategic cooperation between the two parties in the field of intelligent suspension.
Currently, BIBO's full range of intelligent braking products and intelligent suspension products have achieved mass production. Products such as the intelligent rear-wheel steering system BRWS, pure wire-controlled steering system BSBW, and electromechanical braking system BEMB have entered the mass production testing phase and will be officially mass-produced in 2026. Starting from 2026, Bibo will provide the industry with highly competitive integrated solutions for smart chassis systems, leading the integrated development of smart chassis XYZ three-axis.
BIBO leverages the technical accumulation of renowned institutions such as Tsinghua University and Wuhan University of Technology, bringing together core executives and technical experts from well-known OEMs and component companies both domestically and internationally. The company possesses top-tier mass production experience and engineering capabilities for intelligent chassis products in China. BIBO has established a comprehensive product matrix for wire-controlled chassis, including intelligent braking, intelligent steering, intelligent suspension, and domain controllers, committed to leading breakthroughs and innovations in China's smart chassis core technologies and becoming a world-class automotive chassis system service provider.
In 2024, BIBO's product innovation once again won industry awards. The company's core product, the integrated wire-controlled braking system BIBC (One-Box), was delivered in large quantities and won the 2024 Lingxuan Award - Gold Medal for Mass-Produced Chassis Systems, alongside ZF and Autoliv. The product's technical indicators and reliability have been widely recognized by industry clients, leading the development of One-Box products among domestic startups. In 2025, One-Box deliveries are expected to exceed 300,000 units.
BIBO's full range of intelligent braking products has cumulatively shipped over 500,000 units, with monthly deliveries exceeding 40,000 units. The company's intelligent suspension air supply system BAS, developed in deep collaboration with leading domestic listed company Baolong Technology, has achieved mass production, with follow-up orders exceeding 1.5 billion yuan. In 2024, the company added over 40 new projects, bringing the total number of projects and mass-produced models to over 60, with nearly 40 models undergoing winter calibration.
"We thank both new and existing shareholders for their support of BIBO. BIBO remains focused on providing system solutions for smart chassis, leading breakthroughs and innovations in China's smart chassis core technologies. In 2024, BIBO continued its rapid development, achieving mass production of its full range of intelligent braking and suspension products and further completing the layout of intelligent steering products. BIBO will adhere to the cooperative philosophy of 'co-creation, sharing, and mutual benefit,' working hand in hand with upstream and downstream partners to jointly support the globalization of China's automotive industry."
"In recent years, with the rapid increase in the penetration rate of new energy vehicles, the trend of automotive electrification and intelligence has accelerated. Wire-controlled chassis is the cornerstone of automotive electrification and intelligence, and wire-controlled braking, as the core technology of wire-controlled chassis, has seen its front-loading rate grow from 1.6% in 2020 to over 50% in 2024. Domestic suppliers have gradually broken the monopoly of foreign suppliers, achieving significant growth in market share. As a technology-driven startup, BIBO has a team with outstanding comprehensive capabilities, combining academic and industrial resources. The company has quickly opened up the market, achieved stable deliveries, and possesses late-mover advantages, poised for explosive growth."
"Wire-controlled chassis is an important carrier for automotive electrification and intelligence, as well as the inevitable technological path for future high-level autonomous driving. In recent years, the technology and products in the wire-controlled chassis field have developed rapidly, with broad market prospects. As a veteran with thirty years of experience in steering systems, Henglong Group highly recognizes BIBO's strategic layout, R&D capabilities, and engineering capabilities. We believe that the deep cooperation with Bibo will promote the development and maturity of automotive wire-controlled chassis, jointly bringing more innovation and value to the market."
"Since our initial investment in BIBO in 2023, the company has demonstrated strong growth momentum, with remarkable revenue growth. BIBO is a team full of vitality and passion, driven by their enthusiasm for the automotive smart chassis industry and relentless efforts to propel the company forward. In the core product of intelligent suspension air supply system BAS, Baolong and BIBO have collaborated to overcome technical challenges. This product will be delivered to clients in large quantities in 2025, showcasing the outstanding strength of both parties in technological innovation and product development, and injecting new vitality into the automotive smart chassis industry."
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