BIBO Closed Series B Financing of over 1 Billion RMB

On April 29, 2026, BIBO (Hangzhou) Automotive Electronics Co., Ltd. ("BIBO") officially announced the closing of its Series B+ financing of over 700 million RMB, bringing the total cumulative financing of its Series B round to more than 1 billion RMB.

Leadership "Iron Triangle" Drives

Organizational & Operational Upgrades

BIBO’s core management team has formed an "iron triangle", consisting of an industry innovator, a technology leader and an overseas expansion strategist, charting a clear development path for the company.

Founder and President Lucas Liu oversees corporate strategy and long-term planning with sharp insight into industrial opportunities. Steven Wu, Senior Vice President, previously served as Vice President of R&D for ZF Braking Systems in Asia-Pacific, where he led the mass production launch of hundreds of ZF braking product projects. At BIBO, he is responsible for the R&D iteration and mass-production implementation of core products, strengthening the company’s product and technological barriers. Wayne Yu, another Senior Vice President, previously held senior leadership roles at ZF, AESC and Far East Holding Group, where he managed global business and served dozens of premium international automotive OEM clients. He currently leads BIBO’s overseas market development and global resource integration to drive international business breakthroughs. The complementary and collaborative core management team continuously optimizes the company’s organizational capabilities.

Batch Delivery Builds Reputation

Leading Customers Continue to Place Large Orders

Focusing on self-developed intelligent chassis products, BIBO has gained solid customer trust and wide industry recognition by virtue of superior product quality and stable delivery capacity.

Strong In-House R&D Builds Moat

Authoritative Certifications Prove Strength

Backed by robust independent R&D capabilities and a solid systematic technical foundation, BIBO is steadily building up differentiated technological moats to support long-term corporate development.

Adhering to original innovative research, the company has filed nearly 300 patents across categories, including more than 20 overseas patents. Its intellectual property portfolio covers over 30 countries across 5 continents, gaining authoritative recognition from international mainstream automotive clients.

Meanwhile, BIBO has implemented standardized R&D and management systems including CCB, PDP, ELM and PLM, and obtained ASPICE L2 certification, establishing a sophisticated product development and quality management system. In March 2026, BIBO’s BIBC product was awarded the ISO 26262 ASIL-D functional safety certificate by DEKRA under the accreditation of DAkkS (German Accreditation Body). As the highest-level certification in automotive functional safety, it fully demonstrates BIBO’s outstanding product competitiveness and technical strength.

Global Expansion Accelerates

Targeting an International Future

As a rising automotive tech startup, BIBO has achieved early overseas market breakthroughs and demonstrated remarkable global growth potential.

BIBO boasts a high-caliber international team with end-to-end global customer service capabilities and mature overseas operational experience. Leveraging its robust IP portfolio and shareholders’ overseas resources, the company has built business footprints across 4 continents and passed stringent audits from top-tier international automotive customers. In the next phase, BIBO will steadily deploy overseas bases in Europe, South America, North America and Southeast Asia, constructing a global ecosystem integrating R&D, manufacturing, sales and services. Such layout will further strengthen its brand influence and global service capacity, enabling the company to capture first-mover advantages in the global intelligent chassis market.

Founder & Prisident Lucas Liu：

"The completion of over 1 billion RMB Series B financing fully reflects the recognition from capital markets and industry partners of BIBO’s strategic layout, core team, product strength and execution capabilities. Going forward, BIBO will continue to deepen R&D investment in core technologies such as three-axis integration and cross-domain integration, accelerate global expansion, and deliver cost-effective, highly reliable China-born intelligent chassis solutions for global OEM customers."

As the global automotive industry advances toward intelligentization and globalization, intelligent chassis systems have become a critical driving force for vehicle performance upgrading and a core competitive element for global automakers. Through persistent efforts in original innovation, large-scale production, organizational optimization and global expansion, BIBO is solidifying its leading position in the intelligent chassis industry. With continuous global layout, BIBO will steadily move toward its long-term vision: to become a world-class supplier of automotive chassis systems with clear strategic planning and outstanding execution capabilities.