ROX Motor Valuation, Funding & Investors
ROX Motor is valued at $2B as of April 2022.
Last ROX Motor valuation
$2B
Series D · Apr 2022
Last ROX Motor funding round
$959M
Strategic investment · Sep 2023
Cumulative funding ROX Motor raised
$1.4B
across 5 funding rounds
Key investors in ROX Motor
Qiming Venture Partners
HSG
IDG Capital
Tencent
Coatue
Shandong Weiqiao Pioneering Group
About ROX Motor
ROX Motor is a Chinese electric vehicle startup developing intelligent, rugged off-road SUVs, applying all-aluminum body and integrated die-casting manufacturing techniques drawn from founder Chang Jing's background at robot vacuum maker Roborock. Founded in 2021 and based in Shanghai, the company partners with Beijing Automobile Works under the Jishi Auto (Polestones) brand, providing intelligent systems and vehicle design while BAW handles production. Its first model, the Jishi 01, launched in 2023 as an off-road SUV priced from roughly 350,000 yuan.
Founded
2021
HQ
ShanghaiWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$2B (Apr 2022)
ROX Motor Valuation
ROX Motor is currently valued at $2B, based on its Series D in April 2022.
The $200M round was led by Coatue, with participation from IDG Capital and HSG.
ROX Motor valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2022 | Series D | $2B |
ROX Motor Funding History
ROX Motor has raised a total of $1.4B across 5 funding rounds.
ROX Motor's first fundraising round was a $60M Series A in April 2021. The most recent completed round was a $959M strategic investment round in September 2023.
ROX Motor funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2023 | Strategic investment | Shandong Weiqiao Pioneering Group (lead) | $959M | - | ROX Motor (also referred to as Rox Motor Tech or洛轲智能), a Chinese electric vehicle startup founded in early 2021, completed a $1 billion strategic investment round on September 22, 2023, from Shandong Weiqiao Pioneering Group. The funds are designated for R&D in all-aluminum vehicle bodies, integrated die-casting technology, and a smart manufacturing factory project. This marks ROX Motor's sixth financing round, following prior rounds that elevated its valuation to $2 billion by the Series D stage and additional equity from IDG Capital and Tencent in February 2023. ROX Motor collaborates with Beijing Automobile Works (BAW) under the Jishi Auto or Polestones brand (极石汽车), where ROX provides intelligent solutions and design, and BAW handles production. Their first model, Polestones 01 or Jishi 01, a rugged off-road SUV priced from 349,900 yuan (~$47,893), launched in August 2023 with deliveries starting in November 2023. Weiqiao Pioneering, parent of aluminum giant China Hongqiao Group, supports expansion into passenger vehicles leveraging its aluminum expertise. |
| Apr 2022 | Series D | Coatue (lead); IDG Capital; HSG | $200M | $2B | ROX Motor completed a Series D funding round on April 29, 2022, with investors including Coatue, HongShan (HSG), IDG Capital, and others, at a valuation of $2,000 million. The company has raised a total of $1.425B across 7 funding rounds, with 8 investors overall. Subsequent to the 2022 Series D, ROX Motor raised a Corporate Minority round of $1,000M on September 22, 2023, with investors including Weiqiao Pioneering, HongShan, IDG Capital, Coatue, and Tencent. |
| Nov 2021 | Series C | Tencent (lead); Qiming Venture Partners; HSG | $100M | - | ROX Motor is a Chinese startup founded in 2021 by Roborock CEO Chang Jing, focused on developing intelligent electric vehicles, particularly rugged off-roaders, leveraging expertise from robot vacuum technology for EV projects including all-aluminum bodies and integrated die-casting. The company partners with Beijing Automobile Works (BAW) under the Jishi Auto brand, handling intelligent solutions and design while BAW manages production; their first model, Jishi 01, launched in August 2024 priced from 349,900 yuan with deliveries starting November 2024. Earlier, an April 2021 angel round led by Northern Light Venture Capital and Gaorong Capital valued the company at $240 million. Subsequent rounds included Series B, C, D by April 2022 raising ~$200 million to reach $2 billion valuation, Series E with Tencent and IDG Capital in February 2022, and later a $1 billion strategic investment from Weiqiao Pioneering in September 2023. Investors include Tencent, Coatue, HongShan (HSG), IDG Capital, and others. ROX Motor positions in China's competitive NEV market alongside players like Nio, emphasizing smart manufacturing and rapid development, unveiling its debut model just 2.5 years after inception. |
| Sep 2021 | Series B | Qiming Venture Partners | $60M | - | ROX Motor is a Chinese electric vehicle startup focused on intelligent automotive technologies, founded in 2021 and based in Shanghai with 201-500 employees. The company develops smart vehicles and has backing from investors including Tencent, Coatue Management, and Qiming Venture Partners. Later funding includes a Series D in April 2022 at $2,000M valuation and a $1,000M Corporate Minority round on September 22, 2023 led by Weiqiao Pioneering. Total raised across 7 rounds is $1.425B with 8 investors including HongShan, IDG Capital, Coatue, and Tencent. |
| Apr 2021 | Series A | Qiming Venture Partners (lead) | $60M | - | ROX Motor is a Chinese intelligent vehicle developer focused on advancing, developing, and providing services in intelligent automotive technologies, founded in 2021 and based in Shanghai with 201-500 employees. The company has received investments including from Qiming Venture Partners listed around January 2024 and earlier backing from Tencent and Coatue Management. In September 2023, ROX Motor announced a $1 billion funding round from Shandong Weiqiao Pioneering Group following its new energy vehicle debut, marking significant capital for its smart vehicle development. The company positions itself in the competitive Chinese EV and intelligent vehicle market, with developments like its NEV debut prior to the 2023 raise. |
Who has invested in ROX Motor?
6 investors have backed ROX Motor across its funding rounds, including Qiming Venture Partners, HSG, IDG Capital, Tencent, Coatue and Shandong Weiqiao Pioneering Group.
Lead investors include Shandong Weiqiao Pioneering Group, Coatue, Tencent and Qiming Venture Partners.
ROX Motor Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Shanghai | 3 | Lead | Apr 2021 | |
 Hong Kong | 2 | Participant | Nov 2021 | |
| Beijing | 1 | Participant | Apr 2022 | |
| Shenzhen | 1 | Lead | Nov 2021 | |
This data is available for Pro users. Sign up to see all 6 ROX Motor investors. Start Free Trial | ||||
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 TrialROX Motor Competitors
ROX Motor competitors include listed companies like Fastned and Ola Electric, and private ones like Jidu Auto, YinLong Group, SFCC and Rimac Group.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Shanghai | Private | - | - | $2B | - | |
| Zhuhai | Private | - | - | $1.9B | - | |
 Netherlands | Publicly listed | $160M | $17M | $1.9B | 11.1x | |
| Shenzhen | Private | - | - | $1.9B | - | |
 Zagreb | Private | $385M | - | $2.3B | 6.0x | |
 India | Publicly listed | $215M | ($97M) | $1.7B | 7.9x |
ROX Motor Public Comps
ROX Motor is still privately-owned, but its public comps include Fastned, WeRide, Ola Electric, Lucid, Eos Energy Enterprises, Amprius, Polestar, T1 Energy, Aima Technology Group and Pony AI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $160M | $17M | 14.5x | 11.1x | 140.0x | 60.5x | |||
| $102M | ($257M) | 11.4x | 8.3x | (4.5x) | (5.0x) | |||
| $215M | ($97M) | 8.8x | 7.9x | (19.5x) | (21.4x) | |||
| $1.4B | ($2.3B) | 5.5x | 4.7x | (3.2x) | (2.6x) | |||
| $114M | ($930M) | 21.8x | 9.9x | (2.7x) | (9.5x) | |||
| $72M | ($41M) | 18.4x | 10.9x | (32.1x) | 854.4x | |||
| $3.1B | ($1.9B) | 2.2x | 2.1x | (3.4x) | (7.9x) | |||
| $755M | ($210M) | 2.7x | 2.2x | (9.7x) | 52.8x | |||
This data is available for Pro users. Sign up to see all ROX Motor competitors and their valuation data. Start Free Trial | ||||||||
Common questions about ROX Motor
| When was ROX Motor founded? | ROX Motor was founded in 2021. |
| Where is ROX Motor headquartered? | ROX Motor is headquartered in Shanghai, China. |
| Is ROX Motor publicly listed? | No, ROX Motor is a private, VC-backed company. |
| What is ROX Motor's valuation? | ROX Motor was last valued at $2B in its Series D in April 2022. |
| How much funding has ROX Motor raised? | ROX Motor has raised $1.4B across 5 funding rounds. |
| What was ROX Motor's last funding round? | ROX Motor's last funding round was a $959M strategic investment round in September 2023, led by Shandong Weiqiao Pioneering Group. |
| Who are ROX Motor's investors? | ROX Motor's investors include Qiming Venture Partners, HSG, IDG Capital, Tencent, Shandong Weiqiao Pioneering Group and Coatue. |
| Which companies are comparable to ROX Motor? | Companies comparable to ROX Motor include Jidu Auto, YinLong Group, Fastned, SFCC, Rimac Group and Ola Electric. |
See companies similar to ROX Motor
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="28" height="28" viewBox="0 0 28 28"><rect fill="%23e5e7eb" width="28" height="28" rx="6"/></svg>){kind=small}
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.