Chezhubang Raises CNY 450 Million in Series B+, Investors Include China State Backed Fund

▤ Summary

Recently, Chezhubang (车主邦) raised CNY 450 million in Series B+, and launched two new services: "autocade refueling" (团油) and "one-click charging" (快电). Investors include China national SME development fund(国家中小企业发展基金), CCB Qingdao branch(建设银行青岛分行) etc. The National Energy Bureau recently released data showing that as of the first half of 2019, the number of charging piles in China exceeded 1 million units, about 41 percent of which are public. Between June 2018 and May 2019, the number of public charging stations showed an average monthly increase of 11,205 units. The top ten provinces (Beijing, Shanghai, Tianjin, Anhui, Guangdong, Hubei, Hebei, Jiangsu, Shandong and Zhejiang) account for 75.3 percent of all such facilities.

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