(Yicai) Jan. 9 -- Bebest Automotive Electronics, a Chinese maker of intelligent chassis parts, said it has raised over CNY300 million (USD40.9 million) earmarked for the mass production and delivery of its braking and suspension products.

Puhua Capital, Orient Renaissance Capital, Hubei Henglong Automotive System Group were among the investors in the Series B fundraiser, the Shanghai-based company said in a statement today. Existing shareholder Shanghai Baolong Automotive also took part.

Bebest has business ties with both Baolong and Henglong. The suspension products created with Baolong are being mass produced, while the steering systems co-developed with Henglong are undergoing pre-production tests and are expected to begin mass production next year.

Founded in 2021, Bebest has research and development centers in Shanghai and Beijing, as well as a manufacturing plant in Nantong, Jiangsu province. To date, the company has shipped over 500,000 of its smart braking products, with monthly delivery volumes surpassing 40,000.

Bebest anticipates making big deliveries of the products developed with Baolong this year, with future orders topping CNY1.5 billion (USD204.6 million). Starting in 2026, it will provide full intelligent chassis solutions that integrate braking, suspension, and steering products, the firm also said.

Editor: Tom Litting