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- Hozon
Hozon Revenue, Valuation, Funding & Investors
Hozon is valued at $4B as of April 2024, a 4.8x multiple on its last reported $831M revenue.
Last Hozon valuation
$4B
Undisclosed stage · Apr 2024
Last Hozon funding round
$691M
Undisclosed stage · Apr 2024
Hozon revenue
$831M
Undisclosed stage · Apr 2024
Key investors in Hozon
CATL
Shenzhen Capital Group
CITIC Securities
Hongtai Capital Holdings
CCB International
Zhonghuijin Group
About Hozon
Hozon is a Shanghai-based electric vehicle manufacturer operating the Neta brand. It produces models like Neta V, U, and S series SUVs and sedans with autonomous driving features, LFP batteries, and OTA updates. The company sells through dealerships in China and exports to Southeast Asia and Latin America.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$831M (Apr 2024)
Valuation
$4B (Apr 2024)
Hozon Valuation
Hozon is currently valued at $4B, based on its undisclosed-stage round in April 2024.
The $691M round included Yichun Jinheng Equity Investment, Nanning Minsheng New Energy, Hongtai Capital Holdings and Tongxiang State-owned Capital Investment and Operation.
Hozon's valuation has moved from $4.1B at its Series D in October 2021 to $4B in April 2024, across 5 priced rounds.
Hozon valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Apr 2024 | Undisclosed stage | $4B | 4.8x |
| Aug 2023 | Undisclosed stage | $2.6B | 3.1x |
| Feb 2022 | Series D | $3.6B | 4.4x |
| Dec 2021 | Series D | $3.9B | - |
| Oct 2021 | Series D | $4.1B | - |
Hozon Revenue
Hozon's latest recorded revenue is $831M, as of its undisclosed-stage round in April 2024. At a $4B valuation, that implies a 4.8x revenue multiple.
Revenue moved from $831M in February 2022 to $831M in April 2024, while the revenue multiple moved from 4.4x to 4.8x.
Hozon revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Apr 2024 | $831M | $4B | 4.8x | Undisclosed stage |
| Aug 2023 | $831M | $2.6B | 3.1x | Undisclosed stage |
| Feb 2022 | $831M | $3.6B | 4.4x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Hozon Funding History
Hozon has raised a total of $3.9B across 9 funding rounds.
Hozon's first fundraising round was a $300K angel round in September 2017. The most recent completed round was a $691M undisclosed-stage round in April 2024.
Hozon funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2024 | Undisclosed stage | Yichun Jinheng Equity Investment; Nanning Minsheng New Energy; Hongtai Capital Holdings; Tongxiang State-owned Capital Investment and Operation | $691M | $4B | - |
| Aug 2023 | Undisclosed stage | - | $966M | $2.6B | Hozon New Energy Automobile, known as Neta Auto, is a Shanghai-based Chinese electric vehicle startup that raised CNY7 billion (USD961.6 million) in a pre-IPO crossover funding round completed around August 29-30, 2023, marking its first fresh capital since July 2022. The round valued the company at CNY18 billion, positioning it among global unicorns per Hurun Research Institute's April index. Investors were undisclosed, following prior backers like CATL and Shenzhen Capital Group. Hozon sold 152,000 Neta-branded vehicles in 2022, leading Chinese auto startups, but deliveries fell 6.1% to 72,500 units in the first seven months of 2023 amid market pressures. The company operates factories with 150,000 annual capacity and is expanding into Southeast Asia, including assembly in Indonesia, Malaysia, and Thailand. It reported a 2022 net loss of CNY6.9 billion per investor 360 Security Technology. Post-round, Hozon planned a Hong Kong IPO targeting up to USD1 billion, appointed CICC and Morgan Stanley, and later secured Hong Kong government support including USD200 million cornerstone investment. |
| Feb 2022 | Series D | CRRC Corp. (lead); Shenzhen Capital Group (lead) | $315M | $3.6B | Hozon New Energy Automobile, operating the Neta brand, is a Zhejiang-based Chinese electric vehicle maker focused on entry-level EVs priced under RMB 100,000. It delivered 69,674 vehicles in 2021, achieving the highest volume among new EV entrants after Xpeng, Li Auto, and Nio, with a 6% market share in China's all-electric EV segment alongside WM Motor and Leapmotor. In January 2022, it recorded 11,000 deliveries, surpassing Nio and marking three consecutive months above 10,000 units, with sales covering 27 provinces and 148 cities. The February 2022 financing, over RMB 2 billion ($316 million), was the third tranche of Hozon's Series D round, which totaled RMB 8 billion. Primary investors included CRRC Corporation's investment fund and Shenzhen Capital Group. Prior Series D sub-rounds included RMB 4 billion in October 2021 led by Qihoo 360 (RMB 2 billion) and RMB 2 billion in December 2021 with CATL, Qihoo 360, and BAIC Capital. Cumulative funding exceeded RMB 14 billion, matching Nio's total at the end of 2017. Upon Series D completion, Hozon's valuation exceeded RMB 25 billion. It launched a pre-IPO round targeting RMB 45 billion valuation ($7 billion) for a potential Hong Kong IPO in 2022, arranged by Citic Securities and CICC, potentially raising $1 billion. Interest came from SoftBank Vision Fund, Abu Dhabi Investment Authority, UAE sovereign fund, and Singapore's GIC, but deals did not close due to competition concerns. Additional financing included RMB 5 billion from CITIC Bank and RMB 2 billion from Bank of Shanghai, with local governments providing support via loans, land, and purchases. |
| Dec 2021 | Series D | BAIC BluePark New Energy (lead); CATL (lead) | $314M | $3.9B | - |
| Oct 2021 | Series D | CCB International; CATL; GF Venture Capital; CITIC Securities | $623M | $4.1B | - |
| Dec 2020 | Series C | HD Capital (lead) | $306M | - | - |
| Apr 2019 | Series B | - | $447M | - | Hozon Automobile, founded in 2014 and based in Hangzhou, China, is a pure electric smart car R&D company that produces vehicles under the Neta brand. In April 2019, it completed a Series B funding round raising ¥3B, bringing its total equity funding to ¥3B at that point. The company has faced later financial pressures, receiving government subsidies and investments in 2024 totaling around 5.691 billion RMB from regional Chinese governments to support expansion, overseas markets, and a potential IPO, including a planned manufacturing plant in Hong Kong. Sales peaked at 152,073 units in 2022 before declining to 87,684 in 2024 and just 1,213 in 2025. |
| Dec 2017 | Series A | Yangtze Delta Region Institute of Tsinghua University, Zhejiang (lead); Zhonghuijin Group | $190M | - | - |
| Sep 2017 | Angel | Hongli Zhihui Group Co | $300K | - | - |
Who has invested in Hozon?
15 investors have backed Hozon across its funding rounds, including CATL, Shenzhen Capital Group, CITIC Securities, Hongtai Capital Holdings, CCB International and Zhonghuijin Group.
Lead investors include CRRC Corp., Shenzhen Capital Group, BAIC BluePark New Energy, CATL, HD Capital and 1 other investor.
Hozon Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Dec 2017 | ||
| 1 | Lead | Feb 2022 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Lead | Feb 2022 | ||
| 1 | Lead | Dec 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Sep 2017 | ||
| 1 | Participant | Oct 2021 | ||
This data is available for Pro users. Sign up to see all 15 Hozon investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Hozon
Hozon has acquired 1 company to date.
Last acquisition by Hozon was on June 8th 2022. Hozon acquired Neta for undisclosed valuation.
Latest Acquisitions by Hozon
| Description | Neta is a Hangzhou-based manufacturer of new energy vehicles, producing affordable electric cars under the Neta brand since 2018. The company offers models like Neta V and Neta U, focusing on compact SUVs and sedans with battery ranges up to 610 kilometers. Neta operates production facilities in China and exports to Southeast Asia, emphasizing smart connectivity and autonomous driving features. |
| HQ Country | |
| HQ City | Guangxi |
| Deal Date | 8 Jun 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Hozon acquisitions and their M&A valuation multiples. Start Free Trial | |
Hozon Competitors
Hozon competitors include listed companies like XPENG, WeRide and BAIC BluePark New Energy, and private ones like Rimac Group, ENOVATE Motors and Zhiji Auto.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $385M | - | $2.3B | 6.0x | ||
| Publicly listed | $11B | $156M | $10B | 1.0x | ||
| Publicly listed | $102M | ($257M) | $1.9B | 8.3x | ||
| Private | - | - | $3.8B | - | ||
| Publicly listed | $4.2B | ($501M) | $4.3B | 0.7x | ||
| Private | - | - | $4.3B | - |
Hozon Public Comps
Hozon is still privately-owned, but its public comps include Ninebot, Archer Aviation, BAIC BluePark New Energy, Ondas, Avic (Chengdu) Uas, Iveco Group, Thor Industries, Mazda, Mitsubishi Motors and QuantumScape.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.2B | $335M | 0.8x | 0.7x | 7.6x | 7.0x | |||
| $300K | ($651M) | 9154.8x | 251.0x | (4.2x) | (4.1x) | |||
| $4.2B | ($501M) | 1.0x | 0.7x | (8.6x) | (21.7x) | |||
| $51M | ($127M) | 57.8x | 7.4x | (23.0x) | (31.0x) | |||
| $450M | $19M | 8.6x | - | 202.0x | - | |||
| $15B | $1.6B | 0.6x | 0.5x | 5.2x | 5.3x | |||
| $9.6B | $616M | 0.4x | 0.4x | 6.6x | 7.4x | |||
| $32B | $1.1B | 0.1x | 0.1x | 2.0x | 1.5x | |||
This data is available for Pro users. Sign up to see all Hozon competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Hozon
| When was Hozon founded? | Hozon was founded in 2014. |
| Where is Hozon headquartered? | Hozon is headquartered in Shanghai, China. |
| Is Hozon publicly listed? | No, Hozon is a private, VC-backed company. |
| What is Hozon's valuation? | Hozon was last valued at $4B in its undisclosed-stage round in April 2024. |
| How much funding has Hozon raised? | Hozon has raised $3.9B across 9 funding rounds. |
| What was Hozon's last funding round? | Hozon's last funding round was a $691M undisclosed-stage round in April 2024. |
| Who are Hozon's investors? | Hozon's investors include CATL, CCB International, Yichun Jinheng Equity Investment, Nanning Minsheng New Energy, Hongtai Capital Holdings, Zhonghuijin Group, CRRC Corp., Tongxiang State-owned Capital Investment and Operation, Shenzhen Capital Group, BAIC BluePark New Energy and 5 others. |
| What is Hozon's revenue? | Hozon's latest recorded revenue is $831M (April 2024). |
| What is Hozon's revenue multiple? | Hozon's latest valuation implies a 4.8x revenue multiple ($4B valuation on $831M of revenue). |
| Which companies are comparable to Hozon? | Companies comparable to Hozon include Rimac Group, XPENG, WeRide, ENOVATE Motors, BAIC BluePark New Energy and Zhiji Auto. |
| How many companies has Hozon acquired? | Hozon has acquired 1 company, including Neta. |
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