Geely owned truck manufacturer Farizon has raised US$600m in a series-A funding round, Reuters reported.

The company makes hybrid and electric commercial vehicles. 

According to Reuters, this capital infusion would fund technology and product development and expand sales beyond China.

Farizon raised $300m in a Pre-A round in October 2022.

It plans to enter new markets in Asia-Pacific, the Middle East, South America and Europe. 

It sees Europe as a key market and plans to introduce its light electric cargo carrier, the Super Van, in 2024.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Most sales are in China where it delivered 37,800 light commercial vehicles in 2022. In January to May 2023, it sold 24,760.

Reuters added Farizon expected to sell 150,000 vehicles this year in domestic and export markets.

Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now