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- Zhiji Auto
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
BOCOM Intl Hldgs Co
CITIC Securities
Momenta
CATL
SAIC Motor
ICBC International
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Dec 2024 | Series B | $4.3B |
| Mar 2024 | Series B | $9.3B |
| Aug 2022 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2024 | Series B | - | $192M | $4.3B | Zhiji 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 2024 | Series B | Bank 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 | $9.3B | Zhiji 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 2022 | Series A | BOCOM Intl Hldgs Co (lead); ICBC International; Zhiyou Venture Capital; China Reform Health Mgmt; CITIC Securities; National Green Development Fund | $441M | $4.4B | Zhiji 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Aug 2022 | ||
| 1 | Participant | Aug 2022 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Lead | Mar 2024 | ||
| 1 | Participant | Aug 2022 | ||
| 1 | Participant | Aug 2022 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Mar 2024 | ||
This data is available for Pro users. Sign up to see all 14 Zhiji Auto investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialZhiji 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $831M | - | $4B | 4.8x | ||
| Private | - | - | $3.8B | - | ||
| Private | - | - | $5.3B | - | ||
| Private | - | - | $3.4B | - | ||
| Publicly listed | $11B | $156M | $10B | 1.0x | ||
| Publicly listed | $35B | $2B | $12B | 0.4x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $15B | $1.6B | 0.6x | 0.5x | 5.2x | 5.3x | |||
| $4.2B | ($501M) | 1.0x | 0.7x | (8.6x) | (21.7x) | |||
| $300K | ($651M) | 9154.8x | 251.0x | (4.2x) | (4.1x) | |||
| $3.2B | $335M | 0.8x | 0.7x | 7.6x | 7.0x | |||
| $32B | $1.1B | 0.1x | 0.1x | 2.0x | 1.5x | |||
| $36M | ($730M) | 106.8x | 87.1x | (5.2x) | (9.7x) | |||
| $9.6B | $616M | 0.4x | 0.4x | 6.6x | 7.4x | |||
| $19B | $883M | 0.2x | 0.2x | 4.7x | 4.0x | |||
This data is available for Pro users. Sign up to see all Zhiji Auto competitors and their valuation data. Start Free Trial | ||||||||
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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