Greb Intelligent Powertrain, the Chinese supplier that ranked first among global independent third-party vendors for multi-in-one EV drivetrain installations in 2025, has filed for a Hong Kong IPO and is accelerating expansion into two new businesses: AI data center (AIDC) power systems and electric drive units for embodied-intelligence robots, according to Chinese outlet D1EV.
The company completed an over 300 million yuan (about $42.3 million) Series E round in May 2026 and submitted its listing application to the Hong Kong Stock Exchange the following month. Investors include the CICC Renault Fund, whose parent Renault made Greb its first investment in China's EV supply chain, alongside Sequoia China, QJ Motor, the China State-Owned Enterprise Structural Adjustment Fund and GAC Capital.
Greb's core business remains integrated e-axles, or multi-in-one powertrain units that combine motor, inverter and transmission. According to CIC Consulting data cited by D1EV, Greb held an 8.2% share of global installations for multi-in-one powertrain solutions among independent third-party suppliers in 2025, ranking first, and third when measured by all integrated powertrain solutions. Cumulative output of its multi-in-one e-axle products passed 1 million units in 25 months, and capacity utilization at its EV powertrain plants exceeded 94% by the end of 2025.
From 800V car parts to server racks and robot joints
Greb's expansion rests on three technology pillars it says it has built in-house: an 800V high-voltage DC electronic architecture, software and algorithm architecture, and motor and mechanical integration. The same 800V platform designed for high-power automotive applications, the company argues, maps naturally onto AIDC power supplies, which need dense, stable power delivery for server racks.
CIC Consulting forecasts the global AIDC power system market will grow from 54.9 billion yuan in 2025 to 301.1 billion yuan by 2030, a compound annual growth rate of 40.5%. Greb says it has already developed AIDC power products covering AC and DC supply at both server and rack level, delivered core power semiconductor components, and signed strategic cooperation agreements with a US solid-state transformer (SST) company and Denmark's Danfoss. It has also set up a joint laboratory with Shanghai Jiao Tong University.
In embodied intelligence, Greb targets robot joint modules, which are essentially ultra-compact, high-power-density electric drive systems. CIC Consulting expects that market to grow from 1.3 billion yuan in 2025 to 43.1 billion yuan by 2030, a CAGR of 102.2%. The company says it has won customer designations for robot joint systems and is developing a product line spanning dexterous hand motors and rotary joint motors with controllers.
Greb's customer list for its EV business now includes Geely, GAC, Leapmotor, GWM, Seres, Volkswagen, Renault and HanDe Axle, a unit of Weichai Power, among dozens of automakers, plus multiple Tier 1 suppliers. Overseas shipments of its multi-in-one drivetrain solutions for export models rose from 15,000 to over 20,000 units per month starting in June 2026, covering more than 30 countries.
The company also reported a field failure rate below 120 PPM and zero-kilometer failure rates under 30 PPM for motor controllers and onboard chargers in 2025, figures it describes as world-class quality. Greb traces its roots to an early dual-rotor motor design that avoided Japanese hybrid patents, followed by permanent-magnet synchronous motors and a 2018 pivot to integrated e-axles, making it one of the first suppliers to mass-produce highly integrated multi-in-one powertrain units.
