Geely's NEV Brand Farizon Raises over $300 mln
BEIJING(chinatrucks) --Farizon Auto, a brand under Geely New Energy Commercial Vehicle Group, announced on October 26 that it has raised over $300 million USD in its pre-A round of external fund raising. This Pre-A round of investment was led by Hidden Hill Capital, which is part of Singapore’s Global Logistics Properties Ltd. (GLP). Other strategic investors and renowned investment institutions that follow Hidden Hill Capital include Transfar, Citic Securities Investment, Industry Foundation of Xiangtan (Hunan, China), GLy Capital and Mirae Asset.
FARIZON will use the majority of this financing for R&D and market eco-building to further consolidate its leadership in China’s new energy commercial vehicle market.
In addition, Farizon announced that it aims to achieve operational carbon neutrality by 2025 and full life-cycle carbon neutrality by 2030.
As the first commercial vehicle brand in China to focus on new energy, Farizon has established the largest new energy commercial vehicle research facility in China, with a mission to develop new energy and smart technologies for all types of commercial vehicles.It has set up platforms for fleet rental and intelligent management, green energy supply chains, as well as battery charging and swapping.
As of September 2022, it has ranked first in domestic sales of new energy commercial vehicles for five consecutive months. By market segment, its new energy logistics vehicles maintained strong momentum with sales increasing by 259% and market share reaching 19.58%. Farizon also took the first place in the cumulative sales for the first three quarters of 2022 in China .
As the leading party of this round of financing, Hidden Hills Capital will leverage its 70 regional markets, 400+ logistics warehouse infrastructure and rich industrial ecological resources in China to provide comprehensive support for customer development, vehicle sales and leasing, cold chain vehicle promotion and exploration of new business models for new energy commercial vehicles in urban distribution logistics and cold chain application scenarios.
Farizon will continue to pursue its brand vision of leading the commercial vehicles to transit towards zero-emission through innovation. With the implementation of its product and capital market strategies, Farizon will step up its development as a green and smart mobility provider.
- 10000 Units! FARIZON and DST Sign Deal on Promoting 10000 NEVs in 2023 2022-12-22
- Farizon Continues to Be at the Top of the Industry 2022-12-19
- Farizon Receives Order for 5,000 Electric Commercial Vehicles from Gulf Region 2022-12-19
- Geely Farizon’s Mini Electric Truck E200S Exported to Chile 2022-11-16
- Geely’s Farizon to Launch Electric Cargo Van in Europe 2022-11-10
- FARIZON New Energy Light Trucks Took the First Place for 9 Consecutive Months 2022-10-19
- GEELY, Yuexiu Reached a ¥3 Billion Cooperation on Battery Swapping Heavy Trucks 2022-08-15
- GEELY Tops New Energy Commercial Vehicle Sales in June 2022-07-20
- Geely’s Methanol Heavy Truck Rolled Off the Line 2022-06-27
- FARIZON Commercial Vehicles Were Exported to Costa Rica 2022-06-21
Submit Your Requirements, We Are Always At Your Service.
- Bus & Truck Expo Set to be Held in May 2023
- Yutong, SCG Signed MoU for Green Mining in Thailand
- CAT Displays Its First Battery Electric Large Mining Truck
- SANY Equipment Assists in Constructing Iraqi Airport
- Over 5000 Swappable Battery Heavy Trucks Were in Operation in Tangshan
- Iveco Group Attends China International Import Expo(CIIE) 2022
- Mercedes-Benz Exhibits Its Latest Products and Solutions at CIIE 2022
- The 5th China International Import Expo (CIIE) to Open Its Door in Shanghai
- SANY Forms Strategic Alliance with Pony.ai, Sinotrans to Offer Smart Logistics
- Construction Machinery Trade Fair BAUMA 2022 Opens in Munich, Germany
C&C Trucks Co., Ltd.
C&C Trucks Co , Ltd (C&C Trucks), located in Sanshan Economic Development Zone, Wuhu, Anhui Province, a holding company under China International Marine Containers (Group) Co , Ltd (CIMC), is a large heavy truck enterprise integrating the research and development, production
- China’s Pickup Exports Jumped 65% YOY in 2022
- China's Truck Exports Grew by 42% YOY to 53,000 Units in November
- Heavy Truck Sales in China Fell by 9% YoY to 46000 Units in Nov.
- Farizon Continues to Be at the Top of the Industry
- FAW Jiefang Achieved a 25% MoM Increase in Medium and Heavy-duty Trucks in Oct.
- September Pickup Truck Sales Went up 9.4% from August in China
- FARIZON New Energy Light Trucks Took the First Place for 9 Consecutive Months
- Sales of New Energy Heavy-duty Truck Sales On Rise in September
- China’s Pickup Sales Continued Robust Growth in August
- New Energy Heavy Trucks Saw 127% YOY Growth in August 2022