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- AIWAYS
AIWAYS Valuation, Funding & Investors
AIWAYS is valued at $1.6B as of April 2018.
Last AIWAYS valuation
$1.6B
Series B · Apr 2018
Last AIWAYS funding round
$146M
Series C · May 2019
Cumulative funding AIWAYS raised
$797M
across 4 funding rounds
Key investors in AIWAYS
Shagang Group
CCI Holdings
Mingchi Fund
About AIWAYS
AIWAYS is a Shanghai-headquartered electric vehicle manufacturer focusing on smart cars with integrated AI and electric drive systems. It produces the U5 SUV and operates in travel services, retail, and energy sectors. AIWAYS exports to Europe and partners with local dealers. Established in 2017, it maintains production facilities in China with annual output exceeding 50,000 units.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Product sales
Valuation
$1.6B (Apr 2018)
AIWAYS Valuation
AIWAYS is currently valued at $1.6B, based on its Series B in April 2018.
The $159M round was led by Shagang Group.
AIWAYS valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2018 | Series B | $1.6B |
AIWAYS Funding History
AIWAYS has raised a total of $797M across 4 funding rounds.
AIWAYS's first fundraising round was a $181M angel round in October 2017. The most recent completed round was a $146M Series C in May 2019.
AIWAYS funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2019 | Series C | Mingchi Fund (lead) | $146M | - | Aiways is a Chinese electric vehicle startup that received a CNY1 billion (USD144.8 million) cash injection from the Mingchi New Energy Innovation Investment Center in May 2019. The fund was registered in early March 2019 with capital of CNY1 billion to support local industry in Shangrao, Jiangxi province, where Aiways is based. The fund's major shareholders are Binjiang Investment and Jiangxi Development Upgrade Guidance Fund. As of April 2019, prior to this round, Aiways had secured a total of CNY7 billion in funds across three rounds. The investment was intended to support the two-year-old firm in building its manufacturing plant and assembly line with an annual production capacity of 300,000 units in Shangrao, conducting research and development on new models, and opening nationwide sales outlets. At the time of the funding, Aiways had completed the first phase of plant construction, which could produce 150,000 units annually, though the company had not yet revealed a timeline for releasing its first mass-produced model. |
| Apr 2018 | Series B | Shagang Group (lead) | $159M | $1.6B | AIWAYS is a smart electric vehicle manufacturer founded in February 2017 and headquartered in Shanghai, China. The company was founded by Chinese entrepreneurs Samuel Fu and Gary Gu with a mission to develop affordable, enjoyable electric vehicles, starting with the U5 model. AIWAYS has raised a total of CNY 5.2 billion across four investment rounds, with backing from Mingchi Fund, Shagang Group, and other undisclosed investors. The company competes with established Chinese EV manufacturers including NIO, Xpeng, and Li Auto. As of current data, AIWAYS operates with 101–200 employees and has expanded internationally, with the U5 beginning pre-sales in Israel. |
| Jan 2018 | Series A | CCI Holdings | $311M | - | - |
| Oct 2017 | Angel | - | $181M | - | - |
Who has invested in AIWAYS?
3 investors have backed AIWAYS across its funding rounds, including Shagang Group, CCI Holdings and Mingchi Fund.
Lead investors include Mingchi Fund and Shagang Group.
AIWAYS Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Jan 2018 | ||
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Start Free TrialAIWAYS Competitors
AIWAYS competitors include listed companies like Ola Electric, Eos Energy Enterprises and Amprius, and private ones like Caocao Chuxing, Chunqing Technology and StoreDot.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.5B | - | ||
| Private | - | - | $1.5B | - | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $215M | ($97M) | $1.7B | 7.9x | ||
| Publicly listed | $114M | ($930M) | $1.4B | 9.9x | ||
| Publicly listed | $72M | ($41M) | $1.4B | 10.9x |
AIWAYS Public Comps
AIWAYS is still privately-owned, but its public comps include Lucid, Ola Electric, Eos Energy Enterprises, Amprius, WeRide, Polestar, T1 Energy, Fastned, Uniconn and Voyah.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.4B | ($2.3B) | 5.5x | 4.7x | (3.2x) | (2.6x) | |||
| $215M | ($97M) | 8.8x | 7.9x | (19.5x) | (21.4x) | |||
| $114M | ($930M) | 21.8x | 9.9x | (2.7x) | (9.5x) | |||
| $72M | ($41M) | 18.4x | 10.9x | (32.1x) | 854.4x | |||
| $102M | ($257M) | 11.4x | 8.3x | (4.5x) | (5.0x) | |||
| $3.1B | ($1.9B) | 2.2x | 2.1x | (3.4x) | (7.9x) | |||
| $755M | ($210M) | 2.7x | 2.2x | (9.7x) | 52.8x | |||
| $160M | $17M | 14.5x | 11.1x | 140.0x | 60.5x | |||
This data is available for Pro users. Sign up to see all AIWAYS competitors and their valuation data. Start Free Trial | ||||||||
Common questions about AIWAYS
| When was AIWAYS founded? | AIWAYS was founded in 2017. |
| Where is AIWAYS headquartered? | AIWAYS is headquartered in Shanghai, China. |
| Is AIWAYS publicly listed? | No, AIWAYS is a private, VC-backed company. |
| What is AIWAYS's valuation? | AIWAYS was last valued at $1.6B in its Series B in April 2018. |
| How much funding has AIWAYS raised? | AIWAYS has raised $797M across 4 funding rounds. |
| What was AIWAYS's last funding round? | AIWAYS's last funding round was a $146M Series C in May 2019, led by Mingchi Fund. |
| Who are AIWAYS's investors? | AIWAYS's investors include CCI Holdings, Shagang Group and Mingchi Fund. |
| Which companies are comparable to AIWAYS? | Companies comparable to AIWAYS include Caocao Chuxing, Chunqing Technology, StoreDot, Ola Electric, Eos Energy Enterprises and Amprius. |
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