Zhiji Auto Valuation, Funding & Investors

Zhiji Auto is valued at $4.3B as of December 2024.

Last Zhiji Auto valuation

$4.3B

Series B · Dec 2024

Last Zhiji Auto funding round

$192M

Series B · Dec 2024

Cumulative funding Zhiji Auto raised

$1.7B

across 3 funding rounds

Key investors in Zhiji Auto

Zhiji Auto Overview

About Zhiji Auto

Zhiji Auto is a Shanghai-headquartered electric vehicle manufacturer established in 2020 through a joint venture between SAIC Motor and Alibaba Group. The company produces premium smart EVs including the LS6 sedan, LS7 SUV, and L7 sedan, all equipped with LiDAR-based autonomous driving systems and NVIDIA DRIVE Orin platforms. Deliveries of the L7 model started in late 2022, with over 10,000 units sold by mid-2023 across China.


Founded

2020

HQ

ChinaShanghai

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$4.3B (Dec 2024)

Zhiji Auto Valuation

Zhiji Auto is currently valued at $4.3B, based on its Series B in December 2024.

Zhiji Auto's valuation has moved from $4.4B at its Series A in August 2022 to $4.3B in December 2024, across 3 priced rounds.

Zhiji Auto valuation by funding round

Zhiji Auto valuation by funding round
DateStageValuation
Dec 2024Series B$4.3B
Mar 2024Series B$9.3B
Aug 2022Series A$4.4B

Zhiji Auto Funding History

Zhiji Auto has raised a total of $1.7B across 3 funding rounds.

Zhiji Auto's first fundraising round was a $441M Series A in August 2022. The most recent completed round was a $192M Series B in December 2024.

Zhiji Auto funding rounds

Zhiji Auto funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2024Series B-$192M$4.3BZhiji Auto (also known as Zhiji Automobile) is a Chinese electric vehicle developer specializing in new energy vehicles, including pure electric and extended-range models, with a focus on core technologies like digital intelligent chassis, steer-by-wire, and intelligent driving. The company plans to launch two pure electric and two extended-range new products by 2025 using proceeds from recent financings. It has attracted investments from state-owned institutions such as Bank of China Financial, SAIC Investment, Lingang Group, China Construction Bank Investment, Contemporary Amperex Technology (CATL), ICBC Investment, and others, alongside market-oriented investors like Momenta. On December 25, 2024, Zhiji Auto completed a 9.4 billion yuan Series B financing round, following an over 8 billion yuan financing in March 2024 and a 3 billion yuan Series A in 2022. The Series A round in 2022 valued the company at 30 billion yuan post-money, with investors including National Green Development Fund, China National New Investment Holdings, SAIC Group, Bank of Communications Investment, ICBC Investment, and Shangqi Capital. Funds from these rounds are allocated to R&D in core technologies and product development. Zhiji operates in the competitive new energy vehicle sector amid a year-end financing boom, with peers like Avita also raising significant capital (11 billion yuan Series C).
Mar 2024Series BBank of China Financial Assets Investment (lead); BOCOM Intl Hldgs Co; ICBC Investment; Momenta; Shanghai Lingang Economic Development; SAIC Motor; Qingtao Development; CATL; ABC Investment Consulting$1.1B$9.3BZhiji Auto (also known as Zhiji Motor Technology Co. Ltd.), a premium electric vehicle brand under SAIC Motor, raised a $1.1 billion Series B funding round in March 2024 led by BOC Financial Asset Investment, with participation from investors including CATL, Momenta, QingTao, and SAIC Motor. The round matches the specified investors such as Bank of China Financial Assets Investment, BOCOM Intl, ICBC Investment, and Shanghai Lingang. LXL Capital estimated Zhiji Auto's valuation at CN¥64-80 billion for this period. The financing supports Zhiji Auto's development of next-generation smart models, advanced smart driving technology, and overseas market expansion. The company focuses on high-end intelligent EVs, with models like the LS6 SUV and LS7 emphasizing premium features and autonomous driving capabilities. This round is among the largest EV financings in China that year.
Aug 2022Series ABOCOM Intl Hldgs Co (lead); ICBC International; Zhiyou Venture Capital; China Reform Health Mgmt; CITIC Securities; National Green Development Fund$441M$4.4BZhiji Auto is a Chinese electric vehicle manufacturer focused on premium, intelligent electric vehicles with advanced autonomous driving capabilities and sophisticated in-car experiences. The company appears in unicorn lists with a current valuation of $4B and $2B raised, associated with investors like Bank of China Financial Assets Investment. BOCOM International investments in auto-related entities, such as Series A3 subscriptions in July-August 2022 and later rounds like Series B3 in December 2024. Later developments show Zhiji Auto delivering over 3,000 vehicles in 2024 and expanding intelligent truck deliveries.

Who has invested in Zhiji Auto?

14 investors have backed Zhiji Auto across its funding rounds, including BOCOM Intl Hldgs Co, CITIC Securities, Momenta, CATL, SAIC Motor and ICBC International.

Lead investors include Bank of China Financial Assets Investment and BOCOM Intl Hldgs Co.


Zhiji Auto Investors

Investors in Zhiji Auto by funding rounds participated
InvestorHQRoundsRoleFirst check
BOCOM Intl Hldgs CoChinaHong Kong2LeadAug 2022
ICBC InternationalHong KongHong Kong1ParticipantAug 2022
ICBC InvestmentChinaNanjing1ParticipantMar 2024
Bank of China Financial Assets InvestmentChinaBeijing1LeadMar 2024
Zhiyou Venture CapitalChinaChina1ParticipantAug 2022
China Reform Health MgmtChinaBeijing1ParticipantAug 2022
MomentaSwitzerlandLucerne1ParticipantMar 2024
Shanghai Lingang Economic DevelopmentChinaShanghai1ParticipantMar 2024
SAIC MotorChinaChina1ParticipantMar 2024
Qingtao DevelopmentChinaSuzhou1ParticipantMar 2024
CATLChinaNingde1ParticipantMar 2024
ABC Investment ConsultingChinaChina1ParticipantMar 2024

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Zhiji Auto Competitors

Zhiji Auto competitors include listed companies like XPENG and Tata Motors Passenger Vehicles, and private ones like Hozon, ENOVATE Motors, Smart and Youxia Motors.

Public and private companies comparable to Zhiji Auto
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
HozonChinaShanghaiPrivate$831M-$4B4.8x
ENOVATE MotorsChinaShanghaiPrivate--$3.8B-
SmartGermanyStuttgartPrivate--$5.3B-
Youxia MotorsChinaShanghaiPrivate--$3.4B-
XPENGChinaChinaPublicly listed$11B$156M$10B1.0x
Tata Motors Passenger VehiclesIndiaIndiaPublicly listed$35B$2B$12B0.4x

Zhiji Auto Public Comps

Zhiji Auto is still privately-owned, but its public comps include Iveco Group, BAIC BluePark New Energy, Archer Aviation, Ninebot, Mazda, BETA Technologies, Thor Industries, Mitsubishi Motors, Volvo Cars and QuantumScape.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Iveco Group$15B$1.6B0.6x0.5x5.2x5.3x
BAIC BluePark New Energy$4.2B($501M)1.0x0.7x(8.6x)(21.7x)
Archer Aviation$300K($651M)9154.8x251.0x(4.2x)(4.1x)
Ninebot$3.2B$335M0.8x0.7x7.6x7.0x
Mazda$32B$1.1B0.1x0.1x2.0x1.5x
BETA Technologies$36M($730M)106.8x87.1x(5.2x)(9.7x)
Thor Industries$9.6B$616M0.4x0.4x6.6x7.4x
Mitsubishi Motors$19B$883M0.2x0.2x4.7x4.0x

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Common questions about Zhiji Auto

When was Zhiji Auto founded?Zhiji Auto was founded in 2020.
Where is Zhiji Auto headquartered?Zhiji Auto is headquartered in Shanghai, China.
Is Zhiji Auto publicly listed?No, Zhiji Auto is a private, VC-backed company.
What is Zhiji Auto's valuation?Zhiji Auto was last valued at $4.3B in its Series B in December 2024.
How much funding has Zhiji Auto raised?Zhiji Auto has raised $1.7B across 3 funding rounds.
What was Zhiji Auto's last funding round?Zhiji Auto's last funding round was a $192M Series B in December 2024.
Who are Zhiji Auto's investors?Zhiji Auto's investors include BOCOM Intl Hldgs Co, ICBC International, ICBC Investment, Bank of China Financial Assets Investment, Zhiyou Venture Capital, China Reform Health Mgmt, Momenta, Shanghai Lingang Economic Development, SAIC Motor, Qingtao Development and 4 others.
Which companies are comparable to Zhiji Auto?Companies comparable to Zhiji Auto include Hozon, ENOVATE Motors, Smart, Youxia Motors, XPENG and Tata Motors Passenger Vehicles.

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