Zhejiang Auswell Electric Technology

About Zhejiang Auswell Electric Technology

Zhejiang Auswell Electric Technology Co., Ltd. operates as a pivotal entity in the new energy vehicle (NEV) sector, specializing in the development, manufacturing, and sales of critical vehicle systems. Founded in 2018, the company has established itself as a national high-tech enterprise in China.

The firm's core business revolves around providing system solutions for NEVs, with a strategic entry point in drive control systems. Its product portfolio is comprehensive, encompassing power systems, electric motors and their control units, and intelligent connected electric systems. Specifically, the company manufactures electric drive system products, including individual motors and electric control units, as well as integrated "large three-electric" drive assemblies which combine the battery, motor, and electric control system. These solutions are designed for a diverse client base, including manufacturers of passenger cars, commercial vehicles, and logistics vehicles.

Zhejiang Auswell Electric is undertaking a significant expansion with its NEV electric drive system headquarters project in the Zhuji Economic Development Zone. This major project, with a total investment of 5.5 billion yuan, is being constructed in two phases. The initial phase is projected to generate an annual output value of 1.2 billion yuan, with the second phase expected to increase this figure to 3 billion yuan. This facility is intended to foster a cluster of upstream industries centered around the NEV sector, including autonomous driving and automotive-grade semiconductors. The company's revenue model is based on the direct sale of these components and systems to vehicle manufacturers. The company has secured significant venture capital, including a Series B funding round in December 2023 amounting to $139 million.

The company emphasizes its research and development capabilities and maintains a robust verification system for its products, covering general and safety compliance, electrical load, performance, environmental reliability, EMC, and NVH testing. To bolster its technological position, Zhejiang Auswell Electric has engaged in deep partnerships with several listed companies in China, focusing on key areas like L4 automated driving systems and critical semiconductor components. Its operations are certified under ISO9001 and IATF16949 quality management systems.