Hozon New Energy Automobile has raised more than RMB 2 billion ($316 million) in a recent round as part of its Series D, which could value the electric vehicle startup at around RMB 25 billion, Chinese media outlet LatePost reported Monday.
This latest round marks the close of Hozon’s Series D at RMB 8 billion. Investors include Chinese rail company CRRC Corp’s investment fund and the state-run Shenzhen Capital Group
In October, Hozon announced it had closed an RMB 4 billion Series D1 led by China’s biggest cybersecurity firm, Qihoo 360.
This was followed by another RMB 2 billion in new funding from companies, including battery giant CATL and automaker BAIC as part of its Series D in December
The automaker currently offers three entry-level EV models for sale and delivered 69,674 vehicles in 2021, a more than threefold yearly increase and the most in terms of delivery, after US-listed trio Xpeng, Li Auto, and Nio.
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