Pateo secures strategic investment from Haier

On July 6th, following the strategic financing from Dongfeng Motor, Suning, and Xiaomi Technology, Shanghai Pateo has garnered Haier’s investment.

On July 6th, following the strategic financing from Dongfeng Motor, Suning, and Xiaomi Technology, Shanghai Pateo has garnered Haier’s investment.

Haier was investing as a strategic investor in Pateo. The amount of the investment, as well as the exact percentage of shares, has not yet been disclosed.

Founded in October 2009 and headquartered in Shanghai, Pateo is one of the earliest enterprises to enter the Telematics industry in China. The company primarily involves in the development and manufacture of intelligent in-vehicle information service systems, and provides supporting services after-sale.

As an independent third-party service provider, Pateo is building a cross-platform system with auto life service as its core, and provides car networking products and services to several major automotive groups in China.

Currently, Pateo’s clients include Audi, Porsche, Bentley, Lamborghini, Volvo, Peugeot Citroen, Volkswagen Global, Volkswagen China, FAW-VW, SAIC-VW, Land Rover Jaguar, Dongfeng Motor and more.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/07/09/pateo-secures-strategic-investment-from-haier/.

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