- Having been backed by Nio Capital is probably a critical step for ClearMotion’s China expansion.
- Besides Nio Capital, other investors are NewView Capital, BAI Capital, Franklin Templeton and Acadia Woods Partners.
- More than $300 million are raised from investors like J.P. Morgan Asset Management, Qualcomm and Microsoft.
Cross-border investments between the U.S. and China might feel discouraged owing to their decoupling. This is because investors refrain from sanctions as well as geopolitical risks. However, American tech companies and Chinese investors are still holding on to each other in certain areas.
Boston-based firm ClearMotion that strives for more fun and less uncomfortable car rides has recently generated $39 million led by Nio Capital.
Nio Capital is quite powerful when it comes to supporting companies worldwide in strengthening their grasp in China.
Managing partner at Nio Capital, Ian Zhu, said that ClearMotion will enhance the conversion of auto from transportation tool into mobile living space for the smart vehicles of the upcoming era.
ClearMotion has earned a reputation by replacing traditional shock absorbers for cars with software-controlled actuators. Its software system can predict road surface conditions to inform an electrohydraulic unit to counteract the issues on the road.
ClearMotion is prepared to introduce in-car 4D motions that work in coordination with the infotainment system of the vehicle. The solution is to make an immersive in-car entertainment experience upon integration with games, movies and the metaverse. Enjoying a 4D film with coordinated motion from the car with immersive and high-quality sound when the vehicle is being charged would be a whole new experience.
Through funding from Nio Capital, ClearMotion will get to industrialize its products in China. Furthermore, the American firm is looking forward to assembling its actuators around Shanghai.
According to the plan, mass production will begin in China by the end of 2024. Hiring has begun for software development, engineering, customer relationship and hardware profiles.