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

ChinaTianjin

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

Chunqing Technology valuation by funding round
DateStageValuation
Dec 2024Seed$1.5B
Jan 2024Seed$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

Chunqing Technology funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2025Undisclosed stageHangzhou 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 2024Seed-$135M$1.5BChunqing 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 2024SeedBoyu 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

Investors in Chunqing Technology by funding rounds participated
InvestorHQRoundsRoleFirst check
Boyu CapitalChinaBeijing1LeadJan 2024
Hangzhou Hi-Tech Investment Holdings GroupChinaHangzhou1LeadJul 2025
Guangzhou Yuexiu Industrial Investment FundChinaGuangzhou1LeadJan 2024

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Chunqing 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.

Public and private companies comparable to Chunqing Technology
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Caocao ChuxingChinaHangzhouPrivate--$1.5B-
StoreDotIsraelHerzliyaPrivate--$1.5B-
Eos Energy EnterprisesUnited StatesUnited StatesPublicly listed$114M($930M)$1.4B9.9x
AmpriusUnited StatesUnited StatesPublicly listed$72M($41M)$1.4B10.9x
Ola ElectricIndiaIndiaPublicly listed$215M($97M)$1.7B7.9x
T1 EnergyUnited StatesUnited StatesPublicly listed$755M($210M)$1.3B2.2x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Eos Energy Enterprises$114M($930M)21.8x9.9x(2.7x)(9.5x)
Amprius$72M($41M)18.4x10.9x(32.1x)854.4x
Lucid$1.4B($2.3B)5.5x4.7x(3.2x)(2.6x)
Ola Electric$215M($97M)8.8x7.9x(19.5x)(21.4x)
Polestar$3.1B($1.9B)2.2x2.1x(3.4x)(7.9x)
T1 Energy$755M($210M)2.7x2.2x(9.7x)52.8x
Uniconn$768M$73M1.3x1.1x13.9x-
WeRide$102M($257M)11.4x8.3x(4.5x)(5.0x)

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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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