China Digest: SB Energy invests in Aulton; Zhongneng nabs funding
Summary
Aulton provides a one-stop battery-swap solution for EV transportation through smart internet technology. In the statement, SB Energy’s CEO Shigeki Miwa said that the investment is aimed at facilitating a low-carbon society. Chinese engineering equipment provider Zhongneng United on Monday said it has raised an undisclosed amount in its Series C1 round from SPIC Industrial Fund Management, a 30 billion yuan ($4.3 billion) joint fund co-launched in 2015 by State Power Investment Corporation Limited and Shenzhen local financial authority. Zhongneng will allocate the proceeds to accelerate digitalisation, service network development and talent management, the company posted on WeChat. Set up in 2016 in Nanjing, Zhongneng is a business-to-business (B2B) company that produces industrial engineering devices mainly for aerial work platforms.