China's EV startup Voyah raises funds at $4.21 billion valuation
FILE PHOTO: A Voyah Free electric vehicle (EV) by Dongfeng Motor is seen displayed during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song
SHANGHAI : China's electric vehicle (EV) startup Voyah said on Friday it had raised nearly 5 billion yuan ($701.50 million) in the latest A-series fundraising round, which valued the firm at nearly 30 billion yuan.
Ten investors, including Mixed Reform Fund, the investment units of China's major commercial banks, battery maker Sunwoda Electronic Co and Ganfeng Lithium participated in the fundraising round, said Voyah, controlled by state-owned automaker Dongfeng Motor Group Co, on its official social media account.
The premium EV maker launched its first model 'Voyah Free' in December 2020. It sold 16,172 units in the first 10 months of this year, increasing by more than five times from a year ago, according to data from China Merchants Bank International.
Earlier this year, Voyah said it would start delivery in Norway, its first overseas market, in the fourth quarter of this year.
(This story has been refiled to fix typographical error in first paragraph)
($1 = 7.1276 Chinese yuan renminbi)
