China’s Ev Chassis Maker Pix Raises $11M To Build Its Own Smart Vehicles
03/24/22, 10:47 AM
Money raised
$11 million
The autonomous driving industry in China has enjoyed a boom over the past two years, with both institutional and corporate investors pouring money into a driverless future. Companies thriving in the downstream, those offering robotaxi services, operating robo buses, or dispatching delivery bots, have been particularly popular with investors, raising hundreds of millions of dollars and reaching massive valuations.
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Asked how it plans to compete in an increasingly crowded self-driving industry, Nancy Lee, PIX’s international business director, said the company uses 3D printing to make customized chassis at lower costs and with less time than traditional manufacturers. The company currently derives 30-40% of its revenues overseas but expects the ratio to reach 50% over the next two years. One of these ambitious self-driving hardware suppliers is PIX Moving, a Chinese company specializing in automotive skateboards — a type of chassis that houses the batteries, drive units and other key components, and can be adapted to various kinds of self-driving scenarios because of its modular architecture — similar to what Canoo does.