Chinese tech firm Momenta backs Zeron, an electric heavy truck startup in investment round.
In 2024, Zeron, a pioneering electric heavy-duty truck company, unveiled its first generation of intelligent trucks – Jingzhe and X. Founded by Huang Zhehua and Zhang Hongsong, Zeron has quickly made its mark in the industry.
Zeron's inception was backed by a Series A financing round worth RMB 500 million ($70 million), with Momenta, a leading supplier of assisted driving solutions in China, among the three lead investors. Momenta's CEO, Cao X, expressed confidence in Zeron, citing Huang's foresight into advanced technologies and deep respect for science and technology.
The company has assembled a team of over 200 people focused on intelligent electric heavy-duty truck technologies. Zeron's vehicles, equipped with end-to-end and multi-modal large model autonomous driving technology, have a power output of up to 860 horsepower. As of today, the two models have completed nearly 700 deliveries and exceeded 25 million kilometers of total operating mileage.
Analysts predict that 16% of heavy trucks sold in China will be electric by 2025. This trend is further supported by CATL chairman and CEO Robin Zeng, who expects the heavy-duty truck industry to see explosive growth over the next three years, with electrification rates potentially reaching 50 percent. In line with this, Chinese battery giant CATL launched its standardized battery swap battery pack for heavy-duty trucks, "75#," on May 18, 2023.
Huang Zhehua, a former co-founder of autonomous truck company TuSimple, and Zhang Hongsong, a former general manager of Sany Truck, bring a wealth of experience to Zeron. This is Momenta's first move in the truck sector, indicating a promising partnership between the two innovative companies.
Zeron aims to deliver 1,500 heavy-duty trucks this year. With its advanced technology and strong backing, Zeron is poised to make significant strides in the electric heavy-duty truck market. Chinese smart driving startup Momenta's investment in Zeron Truck is a testament to the company's potential and the future of the industry.
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