Geely’s New Energy Commercial Vehicle Arm Farizon Auto Raises $600M in Series A Funding

Farizon Auto, Geely's new energy commercial vehicle manufacturer, has raised $600 million in Series A fund raising. This is the largest ever round of funding in Chin'a new energy commercial vehicle sector. 

The milestone comes on the heels of Farizon’s Pre- A round financing which raised over $300 million in October 2022.

Farizon will utilise 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.

Farizon says it expects to become the first new energy commercial vehicle brand to reach total sales of one million units within the next five years.

In a press release, the company says: 'As China's pioneering commercial vehicle brand dedicated to new energy solutions, Farizon has already become industry and market leader in China. 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'.

Established in 2014, Farizon has developed a product layout including heavy trucks, light trucks, small and mini trucks, LCVs and buses which covers all commercial vehicle application scenarios.