Chinese growth investor CNEI backs IAT Auto in $16m round

Founded in September 2002, IAT offers a set of design and engineering services to automobile manufacturers, including vehicle concept development and styling, vehicle and engine development, show car production, prototype production, production tools development, parts consulting, electronic component design, and turnkey services. IAT claims to be the only independent automotive services company in China capable of designing both engines and vehicles.

IAT’s customer base includes domestic automakers such as Chery, FAW, Dongfeng Motor, and Beijing Auto; as well as Sino-foreign joint-ventures, including FAW-Volkswagen, Hainan Mazda, Beijing Hyundai, and Changan Suzuki.

CNEI manages growth capital funds in China through an on-shore structure with predominantly foreign capital. The firm invests in Chinese companies in a range of industries, with a special focus on companies capitalising on the growth of China’s domestic consumption.

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