IMMOTOR

About IMMOTOR

IMMOTOR Technology, established in 2015 with headquarters in Shenzhen, China, operates in the green energy and personal mobility sectors. The company was founded by Daniel Huang, who previously co-founded and served as CEO of Mophie, a well-known manufacturer of portable battery cases. His experience in developing consumer electronics and power solutions directly informs IMMOTOR's strategic focus.

Initially, the company gained attention with the launch of the Immotor GO, a three-wheeled, foldable electric scooter, which was introduced via an Indiegogo campaign. This product was designed as a portable, intelligent personal transport vehicle, featuring app connectivity for controls and tracking, and powered by the proprietary "Super Battery." This modular battery system was a key component, featuring its own operating system for dynamic power management, safety protocols, and the ability to be used as a standalone power source for other devices.

Over time, IMMOTOR's business model has pivoted significantly towards a broader energy network. The company now focuses on providing a battery-as-a-service (BaaS) platform, primarily targeting the extensive electric two-wheeler market in China. Under its "e-exchange" brand, launched in 2017, IMMOTOR has deployed a network of smart battery-swapping stations across numerous cities. This network serves a high volume of daily users, particularly in the last-mile delivery sector, who can quickly exchange depleted batteries for fully charged ones, minimizing downtime. Revenue is generated through subscriptions to this battery swapping service. The system includes the batteries, exchange stations, a mobile app for users, and a big data platform for network management.

The company has successfully raised significant capital to fuel its expansion, with total funding exceeding $100 million by late 2020. Notable investors include Hyundai Motor Group, Samsung, GGV Capital, PTT, and Petronas. These investments have supported the development of new battery products and the expansion of its battery exchange network. IMMOTOR has also outlined plans to enter new markets in Southeast Asia and to develop consumer products like portable power stations.