China's New Energy Commercial Vehicle Innovator Unveils Global Debut of Formula Platform Technology: batteries are swappable, and now so is battery capacity
SHANGHAI, Sept. 22, 2023 /PRNewswire/ -- On September 15, 2023, Tranlution Logistics Technology Co., Ltd. (hereinafter referred to as "Tranlution") held the global debut launch of its Formula Platform technology in Shanghai.
The Formula Platform incorporates exciting advancements in energy control systems, harness configuration systems, vehicle application systems, PDU sensing devices, power-carrying systems, chassis framework devices, power adaptation interfaces and vehicle battery swapping mechanisms, with advancements achieved through data algorithms, technical integration and ecosystem development. The result: a significant technological leap across the entire platform.
"While traditional new energy vehicles in the market consist of fixed energy sources and equipment, Tranlution's Formula Platform builds upon its previously achieved detachable energy platform technology," said Huang Fengnan, Founder and Chairman of Tranlution, who unveiled the Formula Platform technology at the event.
The Tranlution X1 series batteries, known for their standardization, modularity and compatibility, enable optimal combinations of standard energy sources with multiple vehicle models, resulting in cost reduction and enhanced user efficiency. For instance, a single battery can be universally applied across eight major manufacturers and more than 20 vehicle models.
Tranlution was upgraded to the Formula Platform earlier this year, improving on the existing energy arrangement logic and breaking through previous technological barriers. The detachable platform system was enhanced to create an energy-switching path reminiscent of stacking cubes. Utilizing core technology based on inductance micro-control, Tranlution implemented precise energy management through a micro-current induction system. Because of the comprehensive upgradeof the detachable platform technology, the Formula Platform achieved a qualitative leap forward.
"With fixed equipment representing the set values within the Formula Platform, users can now match energy sources according to their specific needs," said Huang. "This approach allows users to directly reduce half of their battery usage costs by considering energy source combinations. For example, a light truck used for daily commuting that requires only 150 kilometers of travel can opt for two modular batteries. However, a longer transport distance may require four modular batteries during peak periods like the "Double 11" or "618" shopping festivals." By enabling users to calculate costs based on different battery combinations, the Formula Platform becomes a tailored and optimal solution to meet user needs.
Tranlution also showcased its Smart Solar Energy Storage and Exchange Cabinet during the event, integrating photovoltaic energy storage, battery swapping, charging and 380V daily power output. This innovation, combined with continuous technical advancement at the energy port, further reduces energy costs per kilometer, improving cost-effectiveness. This signifies the Formula Platform's ability to optimize energy aspects and improve energy supplementation, helping users significantly reduce overall product application costs.
The future of the battery-swapping ecosystem relies on energy management and utilization, market demands, and ecological collaboration and sharing. "Tranlution hopes to explore new directions for the industry, realize new technologies and create new dynamics. Together with our partners, we aim to contribute globally to developing the new energy industry," said Huang.
At the end of 2022, Tranlution secured 200 million RMB in Series C funding, led by the carbon-neutral fund under the management of Envision Group and Sequoia China, marking a significant milestone in the battery-swapping logistics vehicle sector. In September 2023, Tranlution achieved another breakthrough by completing a 200 million RMB Series D financing round, pushing its post-investment valuation well beyond 2 billion RMB.
Tranlution was established in 2014 and is a leading battery-swapping commercial vehicle innovator in China. It has launched 20+ battery-swapping commercial vehicle models partnered with eight top truck OEMs in China, including Geely Farizon, Golden Dragon, JAC, SAIC, and Yutong Group, which offers a wide range of models from light duty trucks, medium vans, refrigerated trucks, to sanitary trucks. Within only one and a half years, Tranlution's battery-swapping network has expanded to 22 provinces and 50 cities, part of which exclusively serves its key accounts, such as JD Logistics and Cainiao Logistics.
Tranlution is the first Chinese enterprise to export its new energy battery swapping project. At the Shanghai Auto Show in April this year, Tranlution signed strategic procurement agreements for new energy battery-swapping commercial vehicles with companies from more than ten countries, including Poland, Hungary and the United Arab Emirates. This marked the first overseas deployment of new energy battery-swapping commercial vehicles in 2023. Tranlution's recent international expansion further highlights the exciting future of battery-swapping technology.
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