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Chinese truck rental will put almost 100 million yuan in a bag with Series B funding

Shanghai (Gas Goo)- TRUCK RENTAL, China’s logistics vehicle asset management service provider, recently completed a Series B funding round, raising nearly 100 million yuan ($ 14.962 billion), local media reported today.

Revenue is primarily used to increase capacity, improve technological R & D, and expand the company’s marketing team.

Completion of the new funding round marks a milestone in the development of the company’s battery replacement business.

Founded in Xiamen in 2014, TRUCK RENTAL has extensive experience in operating a closed-loop ecosystem that integrates logistics vehicle rental services, finance, sales, maintenance and online management. According to local reports, it has a fleet of 5,000 vehicles under its operation and control.

Prior to the B round, the company had already completed three funding rounds: the Pre-A round, the A round, and the A + round, according to information gathered by corporate data platform Tianyancha.

TRUCK RENTAL started developing the battery replacement business as early as 2020, and succeeded in developing a logistics vehicle equipped with a replaceable standard modular battery pack in the latter half of 2021.

Battery pack production line at Quan Cheng Dian’s Xuzhou plant.Photo credits; truck rental

The company is promoting the construction of battery production capacity. Quan Cheng Dian, a subsidiary of TRUCK RENTAL, will officially start production and operation at the Xuzhou plant on June 1, 2022, focusing on the research and development of battery-replaceable vehicle models and the production of products such as standard modular lithium-ion batteries. have started. Pack and battery replacement cabinet.

In addition, TRUCK RENTAL has developed a battery replacement station of just 1.2 square meters. Compact stations can be widely deployed in logistics parks, parcel delivery service outlets, gas refueling stations, and charging stations.

https://autonews.gasgoo.com/new_energy/70020512.html Chinese truck rental will put almost 100 million yuan in a bag with Series B funding

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