According to GlobalData’s deals database, KH Automotive Technologies Co., Ltd (Konghui Technology), a China-based passenger car electronically controlled suspension system host supplier, has secured CNY300 million (USD41.06 million) in Series C funding led by China Merchants Bank International and SDIC Merchants.
There is also participation from well-known institutions such as China Guangdong Nuclear Power Capital and Harvest International's Luneng Harvest, Suikai Investment, and Chendao Fund.
At present, Konghui Technology has completed a total of four rounds of financing, raising a total of nearly 1 billion yuan.
Deal Rationale
KH Automotive Technologies will use the funds for a series of capital expenditures and supporting working capital support for new production capacity, such as factories and equipment.
Konghui Technology can provide OEM customers with automotive electronically controlled suspension controller software and hardware, as well as air spring assemblies and a wide range of other suspension related parts.
As China’s automotive capabilities shift decisively towards electric vehicles, component companies such as Konghui Technology will be vital to developing supply chain capacity in critical tech areas such as new chassis systems.
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