PAI recently announced the completion of a pre-A round of funding of nearly 100 million yuan, with independent investment from Lenovo Capital and Incubator Group (Lenovo Capital and Incubator Group). According to the team, this funding is mainly used for the R&D of intelligent driving platform and smart E-moped, to further optimize the travel experience of Gen-Z users and accelerate the global strategy of smart mobility.
He Zhiqiang, senior vice-president of Lenovo Group and president of Lenovo Capital and Incubator Group, said: “Smart mobility has become the future development trend of transportation industry, with advanced technologies such as the Internet, big data and navigation constantly entering the sector. The E-moped segment has gradually transited from high-speed to high-quality development, and given directly the potential development of smart mobility. Lenovo Capital and Incubator Group has always paying close attention to the field of smart mobility, and constantly looking for “new species” in the times of internet like PAI. In the R&D of E-moped products, PAI integrates the ideas of NEV and creates customer-centered mobility products from product design, technology R&D, smart application, user experience and other aspects to create trendy and interesting cycling life for users. In the future, Lenovo Capital and Incubator Group will take advantage of CVC and integrate our global resources to provide multi-dimensional enabling for PAI. Let’s accelerate the development of smart mobility industry together.”
PAI capsule user experience center (Shanghai SML Center)
PAI was founded in March 2021, headquartered in Shanghai, China. At present, the team has more than 100 people (by the end of 2021), with R&D personnel accounting for about 70% who mostly from the NEV and smartphone industries. As serial entrepreneurs in the new-energy mobility industry, founder Mr. Ning Hongtao and Mr. Yan Xin have experience from top-level strategy to front-line integration in market operation and channel construction. They also have strong strategic reserves in the supply chain related to R&D, manufacturing and forward-looking technologies. A global smart mobility brand: PAI, is led by the two founders together with a senior management team which full of automotive product development resources and customer operations experience.
PAI sound from “π”, which has infinite non-repeating decimals, interpret the brand’s continuous pursuit and exploration of cutting-edge technology, as well as the ultimate focus and investment in core users. Each decimal in “π” represents a unique and important customer in PAI who shares a common interest and belief in the smart mobility industry. PAI is determined to grow with users, design for users, and provide users with ever-improving mobility experience.
Drawing lessons from the R&D of NEV, PAI builds its E-moped on independently developed smart driving platform and battery, e-control and e-drive technologies supported by self-developed intelligent central control, scenario-based interaction, visual recognition, cloud computing platform, vehicle end sensors and ultra-smart cockpit to provide users with exciting, smart, emotional- and scenario-based driving experience.
There are still more than 500 million fuel motorcycles in the global market, and about 55 million new motorcycles are putting on the road every year. Fuel motorcycles are one of the most damaging vehicles to the environment — account for about 32.6% of the total carbon monoxide emissions in the current travel field, second only to small buses and heavy trucks.
As carbon neutrality in the global market approaches, governments are launching more attractive energy subsidies and giving priority status on roads for electric vehicles while putting stricter emission limitation on conventional gas motorcycles. While the global e-motorcycle market is ready to takeoff, the average annual growth rate of electric motorcycle sales is expected to exceed 35% in the future. The overall market space is huge.
The overall performance of the existing electric motorcycle products in the market is still inferior to the fuel motorcycle with 150cc displacement, and the gap between the mainstream fuel motorcycle with 250cc displacement is larger, and the electrification and intelligence level of the motorcycle industry is still in its infancy.
Prototype of PAI
Pai is going to release a new generation of intelligent E-moped in March 2022, which will surpass the products on sale in the driving control and intelligent experience level. It will subvert the traditional two-wheel mobility experience and overtake the mainstream fuel motorcycle above 250CC.
“Lenovo Capital and Incubator Group aims to e and lay out early technology projects for Lenovo, and lay out the future of technology through investment and incubation. This investment in PAI values two founders Mr. Ning Hongtao and Mr. Yan Xin, as well as the team’s capabilities in supply chain, technology R&D and channel area in smart mobility industry. We hope PAI will continue to amaze the new generation of users with outstanding products”, said Song Chunyu, senior partner of Lenovo Capital and Incubator Group and Vice President of Lenovo Group.
According to PAI, this round of funding will facilitate the R&D of its smart driving platform and smart e-motorcycles, so that the enterprise can attract more excellent talents, and greatly promote the landing of new products and new technologies of the company.
In response to the global carbon neutrality, PAI is committed to speeding up the intelligent and international strategy to bring more environmental friendly, intelligent and enjoyable mobility experience to users around the world.
PAI headquarter in Shanghai
About PAI
Founded in 2021, PAI aims to build a leading smart mobility company with powerful products and innovative operation model. The brand is committed to designing a new generation of personalized and experience-based smart transportation that meets aesthetic demands, lifestyle and user scenarios of young customers aged from 20 to 30. Guided by the brand philosophy “Be different”, PAI is determined to develop into a high-end and dynamic technology brand. In 2022, PAI will continuously launch high-performance intelligent E-moped products and achieve the global sales target of one million within three years. PAI is positioned to expand its technologies, smart platforms and data operation capabilities to more mobility products to continuously boost mobility experience.
About Lenovo Capital and Incubator Group
Lenovo Capability and Incubator Group (LCIG) originates from Lenovo Lefund which was founded in November 2010 for the investment of potential technology programs in their early stage. In 2016, LCIG was officially founded as a global technology fund under Lenovo. Aimed at integrating global resources of Levono for the investment and incubation of forward-looking technologies to secure a leading position in future technology market, LCIG is specialized in investment in the technology industry, including IoT, edge computing, cloud computing, big data, AI, AI+ and consumption upgrading, etc. Currently, LCIG has invested nearly 200 listed and unicorn companies, including Meituan Dianping, CATL, Cambricon, Zhejiang Supcon, Megvii, BYD Semiconductor, Transport Bureau of Shenzhen Municipal, Cosmx, Miss Fresh, SmartSens, Tuhu and SmartMore, etc. LCIG has under it more than 10 subsidiaries and innovative businesses, including 240-million-user SHAREit, Anxiang Smart Healthcare Information Technology, Lenovo Cloud, Lenovo Connect, Lenovo Xinshijie, Guomin Renzheng, LitSoft, Lenovo Financial Services, Lenovo EDU and Ding OS, etc. By adopting the innovative Corporate VC 2.0 model, LCIG fully leverages Lenovo’s global brand portfolio, channels and supply chains, to create cooperation opportunities between member companies and Lenovo group and promote the application of cutting-edge technologies, as part of the effort to build a complementary and highly connected win-win ecosystem.
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Company Name: PAI technology
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Country: China
Website: www.paidiandong.cn
