- tech360.tv
Chinese start-up Zongmu Targets Global Expansion for Self-Driving EV 'Power Bank'
Zongmu Technology plans to commercialise its self-driving EV charging robot, FlashBot, in mainland China and expand overseas. FlashBot has L4 autonomous driving capability and a capacity of 104 kilowatt hours. The company aims to provide mobile charging services in car parks, streets, and isolated places.
With L4 autonomous driving capability and a capacity of 104 kilowatt hours, FlashBot is designed to meet the growing demand for charging stations in the EV market. The company envisions the self-driving robot providing mobile charging services in car parks, streets, and isolated areas.
Tang Rui, CEO and founder of Zongmu, described FlashBot as a "power bank" for smartphones, addressing the existing gap in charging infrastructure. Speaking at BNP Paribas' electric vehicle and mobility conference in Hong Kong, Tang emphasised the need for electricity chargers to keep up with the rising global demand for EVs. Insufficient charging infrastructure has become a pain point for many economies, hindering the widespread adoption of EVs.
According to the International Energy Agency, global EV sales reached nearly 14 million in 2023, with China, Europe, and the United States accounting for 95% of the total. The agency predicts that EV sales will surge to 45 million in 2030 and 65 million in 2035. Zongmu plans to launch FlashBot in tier one cities in China this year, starting with Shanghai, where the municipal government has shown significant support.
Tang highlighted the advantages of FlashBot over fixed charging stations, citing higher efficiency, flexibility, and lower costs. Zongmu is also exploring expansion opportunities in Hong Kong, Europe, and North America, engaging in discussions with potential partners to increase its global presence.
Founded in 2013 by Tang and his mother Li Xiaoning, Zongmu is headquartered in the Shanghai Zhangjiang International Science and Technology Innovation Center. The company specialises in intelligent driving systems and has attracted early investments from Qualcomm (China) Holdings, Fosun (Chongqing) Private Equity Investment Fund, and Hubei Xiaomi Yangtze River Industry Fund Partnership. Zongmu recently submitted a listing application to the Hong Kong stock exchange, aiming to raise $150 million through its initial public offering.
Tang revealed that Zongmu's primary customers are Chinese carmakers who utilise the company's autonomous driving solutions and products. Additionally, Zongmu is involved in developing autonomous parking solutions for passenger cars in China. With the introduction of FlashBot, Zongmu aims to position itself as a unique player in the competitive autonomous driving market, expanding its business scope and capitalising on industry opportunities.
Zongmu Technology plans to commercialise its self-driving EV charging robot, FlashBot, in mainland China and expand overseas.
FlashBot has L4 autonomous driving capability and a capacity of 104 kilowatt hours.
The company aims to provide mobile charging services in car parks, streets, and isolated places.
Source: SCMP