- Companies
- Farizon Auto
Farizon Auto Funding, Investors & Competitors
Farizon Auto has raised $900M across 2 funding rounds, most recently a $600M Series A in July 2023.
Last Farizon Auto funding round
$600M
Series A · Jul 2023
Cumulative funding Farizon Auto raised
$900M
across 2 funding rounds
Key investors in Farizon Auto
Hidden Hill Capital
Industry Foundation of Xiangtan.
Mirae Asset
CITIC Securities
Boyu Capital
Guangzhou Yuexiu Industrial Investment Fund
GLP
Transfar Capital
About Farizon Auto
Farizon Auto is a Hangzhou-headquartered new energy commercial vehicle brand launched in 2014 by Geely. It offers pure electric, range-extended, hydrogen-methanol, and battery-swap trucks, LCVs, and buses for urban and highway use. Backed by Geely's research institute with 2,000 engineers, Farizon provides full lifecycle services toward zero-carbon transport in China.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales, Services
Farizon Auto Funding History
Farizon Auto has raised a total of $900M across 2 funding rounds.
Farizon Auto's first fundraising round was a $300M seed round in October 2022. The most recent completed round was a $600M Series A in July 2023.
Farizon Auto funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2023 | Series A | Boyu Capital (lead); Guangzhou Yuexiu Industrial Investment Fund (lead); Linjiang Industry Group; Hidden Hill Capital; Industry Foundation of Xiangtan.; United Clean Energy | $600M | Farizon Auto, Geely's commercial vehicle subsidiary specializing in new energy commercial vehicles including electric and hybrid trucks, vans, and buses, completed a $600 million Series A funding round on July 19-20, 2023, led by Boyu Capital and Guangzhou Yuexiu Industrial Investment Fund, with participation from Hidden Hill Capital, Industry Foundation of Xiangtan, Linjiang Industry Group, and United Clean Energy. This followed a pre-Series A round of over $300 million in October 2022, bringing total funding to $900 million. The round represents the largest single-round financing in China's new energy commercial vehicle sector. The funds are allocated for research and development, ecosystem development, and global expansion into Europe, Asia-Pacific, Middle East, and South America, with plans to launch the Super Van light electric cargo van in Europe as early as 2024. Farizon aims to solidify its leading position in China's new energy commercial vehicle market, where it has maintained top sales for 14 consecutive months, surpassing the combined volume of its second and third competitors, and reached a production milestone of 150,000 vehicles by May 2023 with a goal of one million within five years. In 2022, Farizon sold approximately 37,800 light commercial vehicles in China. The company has secured initial international orders, such as from the United Arab Emirates, and positions itself against competitors like Rivian and Ford in the e-cargo van segment. |
| Oct 2022 | Seed | GLP (lead); Hidden Hill Capital (lead); Yinshan Capital (lead); Mirae Asset; Gly Capital Management; Transfar Capital; Xiangan Longye; CITIC Securities; Industry Foundation of Xiangtan. | $300M | Farizon Auto, the new energy commercial vehicle brand under Zhejiang Geely New Energy Commercial Vehicle Group (a subsidiary of Geely Holding), completed its first external funding round, a pre-A series, raising over $300 million USD in late October 2022. The round was led by Hidden Hill Capital (backed by Singapore's GLP), with key investors including GLP, Gly Capital Management, CITIC Securities, Mirae Asset, Transfar Capital, Xiangtan Industry Foundation, Xiangan Longye, and Yinshan Capital. Funds are primarily allocated to R&D and ecosystem development to strengthen its position in China's new energy commercial vehicle market. As of September 2022, Farizon held the top spot in domestic new energy commercial vehicle sales for five consecutive months, leading cumulative sales in the first three quarters. Its new energy logistics vehicles saw sales surge 259% year-over-year, capturing 19.58% market share. The company operates China's largest new energy commercial vehicle research facility, focusing on new energy and smart technologies, and has developed platforms for fleet rental, intelligent management, green energy supply chains, and battery charging/swapping. Farizon aims for operational carbon neutrality by 2025 and full life-cycle carbon neutrality by 2030, pursuing a vision of leading the green commercial revolution via innovation and intelligent connectivity. Hidden Hill Capital provides support through its 70 regional markets, over 400 logistics warehouses, and industrial resources for customer development, sales, leasing, and new models in urban distribution and cold chain logistics. The funding aligns with preparations for a potential US IPO. |
Who has invested in Farizon Auto?
13 investors have backed Farizon Auto across its funding rounds, including Hidden Hill Capital, Industry Foundation of Xiangtan., Mirae Asset, CITIC Securities, Boyu Capital and Guangzhou Yuexiu Industrial Investment Fund.
Lead investors include Boyu Capital, Guangzhou Yuexiu Industrial Investment Fund, GLP, Hidden Hill Capital and Yinshan Capital.
Farizon Auto Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Oct 2022 | ||
| 2 | Participant | Oct 2022 | ||
| 1 | Lead | Jul 2023 | ||
| 1 | Participant | Oct 2022 | ||
| -- | 1 | Participant | Jul 2023 | |
| 1 | Participant | Oct 2022 | ||
| 1 | Lead | Oct 2022 | ||
| 1 | Lead | Jul 2023 | ||
| 1 | Lead | Oct 2022 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Participant | Oct 2022 | ||
This data is available for Pro users. Sign up to see all 13 Farizon Auto investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialFarizon Auto Competitors
Farizon Auto competitors include listed companies like Tesla, Tata Motors and Tata Motors Passenger Vehicles, and private ones like GAC Aion, Enilive and Tata Passenger Electric Mobility.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $95B | $10B | $1.4T | 13.8x | ||
| Publicly listed | $8.7B | $720M | $17B | 1.8x | ||
| Private | $2.5B | - | $15B | 6.0x | ||
| Private | - | - | $14B | - | ||
| Publicly listed | $35B | $2B | $12B | 0.4x | ||
| Private | - | - | $9.1B | - |
Farizon Auto Public Comps
Farizon Auto is still privately-owned, but its public comps include Tesla, GE Vernova, Toyota, CATL, Iberdrola, BYD, China Yangtze Power, Constellation Energy, General Motors and Ferrari.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $38B | $3.2B | 6.2x | 5.4x | 73.5x | 43.5x | |||
| $326B | $49B | 1.3x | 1.3x | 8.8x | 11.4x | |||
| $63B | $16B | 2.8x | 2.1x | 11.0x | 9.2x | |||
| $51B | $17B | 4.4x | 4.3x | 13.2x | 11.8x | |||
| $120B | $18B | 0.9x | 0.9x | 6.3x | 5.8x | |||
| $13B | $11B | 11.4x | 11.3x | 13.9x | 14.4x | |||
| $26B | $5B | 4.6x | 3.8x | 23.5x | 15.3x | |||
This data is available for Pro users. Sign up to see all Farizon Auto competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Farizon Auto
| When was Farizon Auto founded? | Farizon Auto was founded in 2014. |
| Where is Farizon Auto headquartered? | Farizon Auto is headquartered in Hangzhou, China. |
| Is Farizon Auto publicly listed? | No, Farizon Auto is a private, VC-backed company. |
| How much funding has Farizon Auto raised? | Farizon Auto has raised $900M across 2 funding rounds. |
| What was Farizon Auto's last funding round? | Farizon Auto's last funding round was a $600M Series A in July 2023, led by Boyu Capital and Guangzhou Yuexiu Industrial Investment Fund. |
| Who are Farizon Auto's investors? | Farizon Auto's investors include Hidden Hill Capital, Industry Foundation of Xiangtan., Boyu Capital, Mirae Asset, Linjiang Industry Group, Gly Capital Management, Yinshan Capital, Guangzhou Yuexiu Industrial Investment Fund, GLP, Transfar Capital and 3 others. |
| Which companies are comparable to Farizon Auto? | Companies comparable to Farizon Auto include Tesla, Tata Motors, GAC Aion, Enilive, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. |
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