Yugu Technology

Yugu Technology, established in Hangzhou in 2012 by founder and chairwoman Liu Aimin, operates as a key player in the intelligent charging and swapping sector for electric two-wheelers in China. Initially focusing on IoT hardware and software R&D, the company pivoted in 2017 to address the prevalent safety issues associated with electric bicycle charging. This strategic shift led to the development of its core business: providing safe and efficient power solutions for the extensive market of delivery riders and, increasingly, the general public.

Liu Aimin, who has a background in mathematics, transitioned through roles in sales, human resources, and investment before steering Yugu Technology into the AI and new energy field. Her journey began as a teacher before she moved to Hangzhou in 1996, eventually co-founding the company with her husband, Xiao Jie, who brought experience as a development engineer and technical director. The company initially undertook IoT projects for an affiliated company, Yusong Technology, which provided the foundational technical experience for its later focus on charging and swapping services.

The firm's business model centers on offering battery swapping and charging services through its brands, including "Zheli Huidian" (This Lithium Swap) and "Chongdian Xiaobanma" (Charging Little Zebra). The primary clients are logistics and food delivery riders who rely on quick battery swaps to maintain operational efficiency. Revenue is generated from these subscription-based services and the sale of charging and swapping equipment. With a network spanning approximately 500 cities, Yugu Technology serves millions of users and has facilitated hundreds of millions of safe battery swaps and charges. The company has successfully raised several funding rounds, including a Series C in 2022, and had pursued an IPO on the Shenzhen Stock Exchange's ChiNext board, although the application was later withdrawn.

At the core of Yugu Technology's service is a sophisticated platform that leverages big data and AI. The company has developed a proprietary lithium battery inspection model that analyzes real-time data from its network of batteries and swap cabinets to predict and prevent failures, achieving a claimed detection accuracy of 98%. This system monitors parameters like voltage, current, and temperature to enhance safety and reduce fire risks. The service allows users to locate nearby cabinets and swap a depleted battery for a fully charged one in seconds via a mobile app, addressing the critical needs for safety, convenience, and efficiency for its user base.

Keywords: Yugu Technology, Hangzhou Yugu Technology, Liu Aimin, electric two-wheeler, battery swapping, battery charging, Zheli Huidian, Chongdian Xiaobanma, e-bike charging, intelligent charging network, IoT, big data, AI, lithium battery safety, smart energy, last-mile delivery, EV infrastructure, China, cleantech, new energy