Chinese commercial vehicle manufacturer Farizon Auto raises $600 million in funding

Chinese commercial vehicle manufacturer Farizon Auto managed to raise $600 million in Series A funding. Indeed, the new energy commercial vehicle manufacturer established by Geely Holding Group established the largest ever single-round of financing in China’s new energy commercial vehicle sector. The milestone comes on the heels of Farizon’s Pre- A round financing which raised over 300 million USD in October 2022.

As stated by Farizon, the company will utilize its new funds for further R&D, ecosystem development and global expansion, as the company continues solidifying its market-leading position in the new energy commercial vehicle market. Farizon is moving to establish itself in key markets outside of China, including the Asia Pacific, Middle East, South American and European markets.

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Farizon Auto: some valuable figures

As of May 2023, Farizon celebrated its 150,000th new energy commercial vehicle being produced. In terms of monthly sales volume, the company has consistently held the top position in Chinese new energy commercial vehicle sector for 14 consecutive months, with its cumulative sales volume far exceeding the combined volume of the second and third-ranked competitors in the industry. Farizon expects to become the first new energy commercial vehicle brand to reach total sales of one million units within the next five years.