Xiaolvren

About Xiaolvren

Beijing Green Star Xiaolvren Technology Co., Ltd., operating as Xiaolvren, was established in 2016 to address the growing need for safe and convenient electric vehicle charging. The company operates as a charging service provider, focusing on the electric bicycle, motorcycle, and tricycle market.

Xiaolvren's core business involves the development, production, and operation of a smart, interconnected charging network. This network consists of two main products: charging cabinets tailored for business-to-business (B2B) clients like food delivery and logistics companies, and charging piles designed for business-to-consumer (B2C) use in residential communities and office buildings. The company has a vertically integrated business model, controlling the entire chain from research and development to manufacturing and operations, ensuring a proprietary product line and supply chain. Revenue is generated from users paying to charge their vehicles at these stations. By 2020, the service had reached a 92% paid user conversion rate with 3.7 million registered users on WeChat.

The company serves a diverse client base that includes individual electric vehicle users, property management companies, and businesses reliant on electric vehicle fleets. For property managers, Xiaolvren offers free installation, maintenance, and operational management of the charging stations, providing them with a dedicated management portal for data tracking and online billing. This approach has led to its adoption as municipal infrastructure in several local governments. The company has established a significant presence across China, with operations in over 120 cities, including major hubs like Beijing, Shanghai, Guangzhou, and Shenzhen.

Xiaolvren has successfully secured multiple rounds of funding. In April 2019, it announced a Series B financing round in the hundred-million RMB range, exclusively from Fosun. This was followed by a Series B+ round of tens of millions of RMB from a subsidiary of Tencent in August 2020. Tencent increased its investment later, reflecting a long-term interest in the two-wheeled electric vehicle energy sector. Other notable investors include Zhongguancun Dahe Capital, ZJU Joint Innovation Investment, and ZSCapital.