May 2026
📣 VC round data is live. Check it out!
 | CATL, headquartered in Ningde, Fujian Province, is a global leading battery manufacturer founded in 2011. The company specializes in the development and production of lithium-ion batteries for EVs and energy storage systems. CATL is the largest EV battery manufacturer in the world and leads the industry in innovative battery technology development for higher-energy density and safety, longer battery service life and super-fast charging. CATL is also involved in the manufacturing of cathode and other related battery materials. Through its subsidiary Brunp, it works with customers to create a closed-loop battery life cycle from production, application, to recycling. | $61 | +66% | $280B | $238B | 3.8x | 13.8x | ||
| Founded in 1995, BYD is a leading Chinese manufacturer in the design, development, and production of new energy vehicles, or NEVs. In March 2022, the firm discontinued production of internal combustion engine, or ICE, vehicles. Its products primarily target the growing midpriced mass-market segment in China’s passenger vehicle market. The company sold about 4.3 million passenger NEVs in 2024, accounting for 35% of the Chinese passenger NEV market. Besides automobile production, the company is also engaged in handset components and assembly services, as well as the rechargeable battery and photovoltaics business. After more than 25 years of development, the company has established over 30 industrial parks worldwide. | $13 | -24% | $120B | $122B | 1.0x | 6.9x | ||
| Li Auto is a leading Chinese NEV manufacturer that designs, develops, manufactures, and sells premium smart NEVs. The company started volume production of its first model Li One in November 2019. The model is a six-seater, large, premium plug-in electric SUV equipped with a range extension system and advanced smart vehicle solutions. It sold over 500,000 NEVs in 2024, accounting for about 4% of China's passenger new energy vehicle market. Beyond Li One, the company expands its product line, including both BEVs and PHEVs, to target a broader consumer base. | $8 | -45% | $16B | $4B | 0.2x | 4.3x | ||
| Founded in 2015, XPeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets EVs in China. Its products primarily target the growing base of technology-savvy middle-class consumers in the midrange to high-end segment in China’s passenger vehicle market. The company sold over 190,000 EVs in 2024, accounting for about 2% of China’s passenger new energy vehicle market. It is also a leader in autonomous driving technology. | $8 | -18% | $15B | $13B | 1.2x | 40.0x | ||
| Nio is a leading electric vehicle maker, targeting the premium segment. Founded in November 2014, Nio designs, develops, jointly manufactures, and sells premium smart electric vehicles. The company differentiates itself through continuous technological breakthroughs and innovations such as battery swapping and autonomous driving technologies. Nio launched its first model, its ES8 seven-seater electric SUV, in December 2017, and began deliveries in June 2018. Its current model portfolio includes midsize to large sedans and SUVs. It sold around 222,000 EVs in 2024, accounting for about 2% of the China passenger new energy vehicle market. | $5 | +52% | $14B | $13B | 1.0x | (19.2x) | ||
| Zhejiang Leapmotor Technology Co Ltd is principally engaged in the production, research and development and sales of new energy vehicles in the PRC. The company operates in two geographical segments: Mainland China, and Others. | $5 | -23% | $8B | $5B | 0.5x | 17.6x | ||
| ZEEKR Intelligent Technology Holding Ltd is headquartered in Hangzhou, Zhejiang Province, China. The principal executive offices are specifically located at Room 2301, Building 1, Dadao Wangchao Shangwu Center, Yingfeng Street, Xiaoshan District, Hangzhou. It is a premium electric vehicle brand within the Geely Holding Group. | -- | -- | $7B | $10B | — | — | ||
| BAIC BluePark New Energy Technology Co Ltd is engaged in the research and development, production, sales, and service of new energy pure electric vehicles and core components. The company operates under the Xiangjie, Jihu, and BEIJING brands, offering a range of models that include the Xiangjie S9, Alpha S Pioneer PRO, Alpha T5, Koala series, and others. | $1 | -7% | $6B | $6B | 1.4x | (14.6x) | ||
| Ninebot Ltd is engaged in the research and development, design, manufacturing, distribution and sales of short-distance transportation products. The products offered by the company include electric balance bikes and electric scooters for short distance commuting. | $6 | -40% | $4B | $3B | 0.9x | 8.0x | ||
| Pony AI Inc is an artificial intelligence technology company that is principally engaged in the operation and development of autonomous vehicles. It operates fully driverless robotaxis through the PonyPilot mobile app in Beijing, Shanghai, Guangzhou, and Shenzhen. The company operates a fleet of robotaxis. The Group conducts its operations mainly in the People’s Republic of China (PRC) and the United States of America (U.S.) through subsidiaries. Key revenue is generated from the People’s Republic of China. | $9 | -52% | $4B | $3B | 31.7x | (13.0x) | ||
| Voyah Automobile Technology Co Ltd is an intelligent NEV brand under DFM, one of the Chinese vast central state-owned automobile groups. The group designs, develops, and sells premium NEVs, epitomizing the leap from manufacturing to smart manufacturing among Chinese brands. Drawing on the DFG's automotive manufacturing heritage, it achieves breakthroughs in safety, battery-motor-control systems, and smart technologies. The group focused on the premium segment in China's NEV market. It has launched five NEV series, such as the VOYAH FREE series, a mid-to large-sized SUV; the VOYAH DREAM series, which is a flagship luxury MPV; the VOYAH PASSION series, a flagship sedan; the VOYAH COURAGE series, a mid-sized SUV; and the VOYAH TAISHAN series, a flagship six-seat full-size SUV. | $1 | -- | $3B | $2B | 0.4x | 4.0x | ||
| Aima Technology Group Co Ltd is engaged in the research and development, production, and sales of electric bicycles, electric mopeds, and electric motorcycles. | $3 | -41% | $3B | $2B | 0.6x | 4.8x | ||
| WeRide Inc operates in the autonomous driving industry. The company has developed a universal autonomous driving technology platform that integrates full-stack software algorithms, modularized hardware solutions, and a cloud-based infrastructure platform. The company provides autonomous driving products and services from L2 to L4 vehicles. The products of the company includes Robotaxi, Robobus, Robovan, Robosweeper, and others. The company earns its revenue from the People's Republic of China. | $8 | -24% | $3B | $2B | 16.4x | (7.6x) | ||
| Shenzhen Uniconn Technology Co Ltd is a product and solution provider that integrates research and development, design, production, sales, and service of electrical connection components. | $20 | +71% | $2B | $2B | 2.2x | 22.3x | ||
| Lotus Technology Inc is a battery electric vehicle (BEV) maker that designs, develops, and sells BEV lifestyle vehicles under the Lotus brand. The Group is also a distributor that sells luxury sports cars under the Lotus brand. It also provides other sales and ancillary services to customers. | $1 | -37% | $874M | $3B | 5.1x | (7.9x) | ||
| EHang Holdings Ltd is an urban air mobility (UAM) technology platform company. It focuses on making safe, autonomous, eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with unmanned aerial vehicle (UAV) systems and solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. EHang’s EH216-S has received a production certificate and standard airworthiness certificate for passenger-carrying pilotless eVTOL aircraft issued by the Civil Aviation Administration of China. The group continues to explore the boundaries of the sky to make flying technologies benefit life in smart cities. | $10 | -40% | $742M | $647M | 8.7x | (27.0x) | ||
| Shanghai Phoenix Enterprise (Group) Co Ltd designs, develops, manufactures, and sells bicycles under the Phoenix brand name in China. Its production and sales of Phoenix brand bicycle products not only exported to Europe and the United States and other international markets. | $1 | -23% | $581M | $532M | 1.7x | 16.6x | ||
| Niu Technologies designs, manufactures and sells high-performance electric motorcycles, scooters, bicycles, and kick-scooters. The company has a product portfolio consisting of electric motorcycle, mopeds and bicycle series, including the NQi, MQi, UQi, F series, and others, and micro-mobility series, including the kick-scooter series KQi and the e-bike series BQi. The company's principal operations and geographic markets are predominantly in the People’s Republic of China. It also generates revenue from Europe and other regions. | $2 | -33% | $188M | $127M | 0.2x | 15.7x | ||
| Kandi Technologies Group Inc is engaged in developing, manufacturing, and commercializing fully electric vehicle products and related technologies. Its products mainly consist of EV parts, EV products, and off-road vehicles, including All-Terrain Vehicles (ATVs), UTVs, go-karts, electric scooters, electric self-balancing scooters, and associated parts, and Lithium-ion cells, etc. The company generates maximum revenue from the sale of Off-road vehicles and associated parts. Geographically, it derives maximum revenue from the United States and other countries, followed by China. | $1 | -34% | $74M | $2M | 0.0x | (0.0x) | ||
| U Power Ltd is involved in the provision of vehicle sourcing services. It is principally engaged in the provision of new energy vehicles development and sales; battery swapping stations manufacturing and sales; battery swapping services, and sourcing services. The company, as a broker, engaged in sales of vehicles between automobile wholesalers and buyers, including small and medium-sized vehicle dealers and individual customers located in lower-tier cities in China. | $1 | -- | $34M | $34M | 5.7x | (3.4x) | ||
| Lobo Technologies Ltd, formerly known as Lobo EV Technologies Ltd, is an electric vehicle manufacturer and seller company. It designs, develops, manufactures, and sells e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles such as golf carts and mobility scooters for the elderly and disabled persons, also provides automobile information and entertainment software development and design services to customers. The company operates in two operating segments: the Electric vehicles and accessories sales segment, which generates key revenue, and the software royalties and development and design services segment. It generates all of its revenue within the People's Republic of China. | $1 | -5% | $10M | $13M | 0.5x | (5.0x) | ||
| Median | $5 | -24% | $3B | $3B | 1.1x | 4.1x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.