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- Chunqing Technology
Chunqing Technology Valuation, Funding & Investors
Chunqing Technology is valued at $1.5B as of December 2024.
Last Chunqing Technology valuation
$1.5B
Seed · Dec 2024
Last Chunqing Technology funding round
$200M
Undisclosed stage · Jul 2025
Cumulative funding Chunqing Technology raised
$435M
across 3 funding rounds
Key investors in Chunqing Technology
Boyu Capital
Guangzhou Yuexiu Industrial Investment Fund
Hangzhou Hi-Tech Investment Holdings Group
Nanxun Industrial Fund
Xiangtan Electrochemical
Chunqing Technology Overview
About Chunqing Technology
Chunqing Technology is a Chinese firm that develops electric vehicles powered by alcohol-hydrogen fuel cell systems. Based in Chongqing, the company manufactures vehicles such as the world's first alcohol-electric hybrid truck unveiled in 2023, alongside production of methanol-based fuels and hydrogen energy solutions. It supplies these technologies to commercial fleets seeking zero-emission alternatives to traditional batteries.
Founded
2021
HQ
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$1.5B (Dec 2024)
Chunqing Technology Valuation
Chunqing Technology is currently valued at $1.5B, based on its seed round in December 2024.
Chunqing Technology's valuation has grown 1.4x from $1.1B at its seed round in January 2024 to $1.5B in December 2024, across 2 priced rounds.
Chunqing Technology valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2024 | Seed | $1.5B |
| Jan 2024 | Seed | $1.1B |
Chunqing Technology Funding History
Chunqing Technology has raised a total of $435M across 3 funding rounds.
Chunqing Technology's first fundraising round was a $100M seed round in January 2024. The most recent completed round was a $200M undisclosed-stage round in July 2025.
Chunqing Technology funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2025 | Undisclosed stage | Hangzhou Hi-Tech Investment Holdings Group (lead); Xiangtan Electrochemical; Nanxun Industrial Fund | $200M | - | Chunqing Technology, a subsidiary of Farizon New Energy Commercial Vehicle Group under Geely Holding Group, completed its third-round financing exceeding $200 million on July 20, 2025. The lead investor was Hangzhou Hi-Tech Financial Investment (also referred to as Hangzhou Hi-Tech Investment Holdings Group), with participation from strategic partners including Xiangtan Electrochemical Industry Investment and Nanxun Industrial Fund. Funds are designated for R&D of alcohol-hydrogen products and technologies, as well as building the alcohol-hydrogen ecological system. |
| Dec 2024 | Seed | - | $135M | $1.5B | Chunqing Technology is a Hangzhou-based subsidiary of Farizon New Energy Commercial Vehicle Group (owned by Geely) that specializes in alcohol hydrogen electric technology for green methanol production and applications. The company completed its Pre-A+ funding round in December 2024 at a post-money valuation of over $1.5 billion USD. This followed the company's initial achievement of unicorn status (pre-money valuation of $1 billion USD) in January 2024, when it secured $100 million in its Series A round from multiple strategic investors and investment institutions. The funding has been allocated primarily toward research and development of alcohol-hydrogen products and technologies, as well as the construction of an alcohol-hydrogen ecosystem. |
| Jan 2024 | Seed | Boyu Capital (lead); Guangzhou Yuexiu Industrial Investment Fund (lead) | $100M | $1.1B | - |
Who has invested in Chunqing Technology?
5 investors have backed Chunqing Technology across its funding rounds, including Boyu Capital, Guangzhou Yuexiu Industrial Investment Fund, Hangzhou Hi-Tech Investment Holdings Group, Nanxun Industrial Fund and Xiangtan Electrochemical.
Lead investors include Hangzhou Hi-Tech Investment Holdings Group, Boyu Capital and Guangzhou Yuexiu Industrial Investment Fund.
Chunqing Technology Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Jan 2024 | ||
| 1 | Lead | Jul 2025 | ||
| 1 | Lead | Jan 2024 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialChunqing Technology Competitors
Chunqing Technology competitors include listed companies like Eos Energy Enterprises, Amprius, Ola Electric and T1 Energy, and private ones like Caocao Chuxing and StoreDot.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.5B | - | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $114M | ($930M) | $1.4B | 9.9x | ||
| Publicly listed | $72M | ($41M) | $1.4B | 10.9x | ||
| Publicly listed | $215M | ($97M) | $1.7B | 7.9x | ||
| Publicly listed | $755M | ($210M) | $1.3B | 2.2x |
Chunqing Technology Public Comps
Chunqing Technology is still privately-owned, but its public comps include Eos Energy Enterprises, Amprius, Lucid, Ola Electric, Polestar, T1 Energy, Uniconn, WeRide, Fastned and Voyah.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $114M | ($930M) | 21.8x | 9.9x | (2.7x) | (9.5x) | |||
| $72M | ($41M) | 18.4x | 10.9x | (32.1x) | 854.4x | |||
| $1.4B | ($2.3B) | 5.5x | 4.7x | (3.2x) | (2.6x) | |||
| $215M | ($97M) | 8.8x | 7.9x | (19.5x) | (21.4x) | |||
| $3.1B | ($1.9B) | 2.2x | 2.1x | (3.4x) | (7.9x) | |||
| $755M | ($210M) | 2.7x | 2.2x | (9.7x) | 52.8x | |||
| $768M | $73M | 1.3x | 1.1x | 13.9x | - | |||
| $102M | ($257M) | 11.4x | 8.3x | (4.5x) | (5.0x) | |||
This data is available for Pro users. Sign up to see all Chunqing Technology competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Chunqing Technology
| When was Chunqing Technology founded? | Chunqing Technology was founded in 2021. |
| Where is Chunqing Technology headquartered? | Chunqing Technology is headquartered in Tianjin, China. |
| Is Chunqing Technology publicly listed? | No, Chunqing Technology is a private, VC-backed company. |
| What is Chunqing Technology's valuation? | Chunqing Technology was last valued at $1.5B in its seed round in December 2024. |
| How much funding has Chunqing Technology raised? | Chunqing Technology has raised $435M across 3 funding rounds. |
| What was Chunqing Technology's last funding round? | Chunqing Technology's last funding round was a $200M undisclosed-stage round in July 2025, led by Hangzhou Hi-Tech Investment Holdings Group. |
| Who are Chunqing Technology's investors? | Chunqing Technology's investors include Boyu Capital, Hangzhou Hi-Tech Investment Holdings Group, Guangzhou Yuexiu Industrial Investment Fund, Xiangtan Electrochemical and Nanxun Industrial Fund. |
| Which companies are comparable to Chunqing Technology? | Companies comparable to Chunqing Technology include Caocao Chuxing, StoreDot, Eos Energy Enterprises, Amprius, Ola Electric and T1 Energy. |
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