The SBW Pioneer in China, DECO received nearly 100 million CNY from B Round of Financing
DECO, an intelligent steering solution provider, completed its B Round of Financing of nearly 100 million CNY. The investors include Pengchen Xunda Fund, Penchen Ruizhi Fund,Suzhou Trend 1 Venture, and Zhixuan Venture. The fund will mainly be used for R&D and iteration of core products, such as electric power steering , Steer-By-Wire system, and the introduction of high-end R&D talents.
The mechanical connection of traditional steering system limits the development of the intellectualization and electrification of vehicles. Steer-By-Wire system has become an inevitable trend of evolution, as well as the "standard option" of new energy & intelligent vehicles in the future.
Steer-By-Wire system is a standard blue ocean market with high technical barriers, and low penetration. With the promotion of regulations and the popularization of high-end new energy passenger vehicles, the future of Steer-By-Wire system will usher in explosive growth. Data shows that the SBW penetration rate of new energy passenger vehicles in China will reach 15% in 2025, and that of fuel passenger vehicles will reach 4%. The corresponding market size will be about 8.9 billion CNY, while the CAGR will reach 186% from 2021 to 2025.
Electric Power Steering & Steer-By-Wire system
In the future, intelligent steering products will mainly be commercialized in the following two points:
At autonomous driving level 2.5-3, intelligent steering enables APA, LKA and TJA. It also improves the controllability of driving and steering comfort.
At autonomous driving level 4-5, SBW system not only facilitates the installation and layout of the whole vehicle, but also realized the function of steering wheel silence through decoupling the steering wheel and the steering gear, which provides the driver with a more relaxed and comfortable cockpit space.
Zheng Xingmei, Deputy Gernal Manager of DECO, said:
“Compared with the international Tier1, the advantages of DECO can be summed up in 4 words.
The first one is “independence”. Only by mastering the core intellectual property rights can we meet the customization needs of automakers for intelligent parts.
The second one is “cooperation”. The rapid response can effectively shorten the development and production cycle of new vehicles.
The third one is “stable supply”. Taking “chip shortage” as an example, DECO has the independent R&D ability of key components, such as ECU, PMSM and so on.
DECO can quickly complete the localization by adjusting the design according to the chip requirements of the vehicle.
DECO was founded in 2009, focusing on providing L2-L4 intelligent steering products for intelligent driving vehicles.
The founder team of DECO has been deeply engaged in the field of chassis for more than 20 years and has mastered the ability of forward development of ECU, motor, sensor, and reduction device of the steering system. By now, DECO has achieved R&D of vehicle-level SBW system and started the mass production of SBW products.
Intelligent steering products of DECO
DECO lays out four vehicle-level product routes, including SBW, SBEH, EPS, and EHPS, covering many fields such as passenger vehicles, commercial vehicles, specialized vehicles, intelligent transportation capacity, skateboard chassis and so on.
DECE has reached strategic cooperation with dozens of mainstream vehicle automakers at home and abroad. Up to now, by supplying more than 1.6 million EPS to the market, DECO has been the No. 1 exporter for 8 consecutive years.
Steer-By-Wire System
At present, the SBW system market is still monopolized by Bosch, ZF and other international Tier1s. To break this technical bottleneck, DECO is actively promoting the commercialization process of SBW system. It is expected that around 2025, the SBW system of DECO can be mass produced on the new energy passenger vehicles of leading automakers.
