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CATL’s smart chassis unit raises $281m in first external funding
Deal Street Asia | English | News | Oct. 15, 2025 | UndeterminedBizdev-Partnering
Contemporary Amperex Intelligence Technology (Shanghai) Limited (CAIT-SH), the intelligent vehicle unit of Chinese EV battery giant CATL, has raised nearly 2 billion yuan ($281.1 million) in its first external funding round. The financing will support the mass production and commercialization of its "Panshi" EV skateboard chassis, which integrates battery cells directly into the vehicle frame using Cell-to-Chassis technology.
Since 2024, CAIT-SH has partnered with several automakers including BAIC Group, Avatr Technology, JAC Motors, and Vietnam’s VinFast to promote Panshi chassises in both domestic and international markets like Southeast Asia, the Middle East, and Europe. CATL also presented Panshi to Porsche AG for their EV development. Key investors in this round include Boyu Capital, Guotai Junan, Cathay Fortune Corp, BAIC Capital, Shanghai STVC Group, and Fortera Capital. The subsidiary’s valuation reportedly surpassed 10 billion yuan ($1.4 billion) following the investment.
CATL, which holds roughly 38% of the global EV battery market and supplies major automakers such as Tesla, Volkswagen, BMW, and Ford, began researching skateboard chassis technology in 2018 and established CAIT-SH in 2021. The Panshi chassis enhances vehicle safety, driving range, and reduces development and production costs by integrating battery cells into the frame. Highlighted for its ability to withstand frontal impacts up to 120 kph (75 mph), CAIT-SH currently employs around 600 staff and operates production and testing facilities in Yichun City and Shanghai.