Voyah, the posh division of Chinese state-owned automaker Dongfeng Motor, has added ten shareholders together with lithium miner Ganfeng Lithium and battery maker Sunwoda. Its registered capital has elevated by 18.21%, from 2.61 billion yuan ($386 million) to about 3.085 billion yuan ($456 million).
Voyah introduced in November final 12 months that it had accomplished the A spherical of financing price 4.55 billion yuan and achieved a post-investment valuation of practically 30 billion yuan. After the financing is accomplished, Dongfeng will maintain 78.89% shares of Voyah, whereas staff will maintain 8.75% and exterior traders will maintain 12.37%.
Voyah has solely been within the new power automobile subject for simply over a 12 months. In June 2021, FREE, Voyah’s first mannequin, was formally launched, whereas its comply with up, Dreamer, was launched in May final 12 months. However, gross sales volumes have been low. In 2022, the corporate solely delivered 19,000 new vehicles, which was lower than half of its goal of 46,000 autos at first of final 12 months. Due to the poor gross sales quantity within the first half of the 12 months, Voyah has lowered its gross sales goal to 31,000 autos in the course of the 12 months, however its remaining gross sales efficiency continues to be far from that.
To this finish, Voyah has broadened its scope of product choices. On January 13, it introduced that the primary batch of mass-production fashions of “Chasing Light” formally rolled offline, with orders exceeding 10,000 items. In addition, the extended-range model of FREE was launched at first of the 12 months, and its CLTC cruising vary reached 960km. At current, there are three fashions on sale, together with SUV FREE, MPV Dreamer and sedan Chasing Light. Lu Fang, CEO of Voyah, stated in an inner letter at first of the 12 months that 800V fast-charging and hydrogen-powered merchandise will probably be launched sooner or later.
The firm’s world enlargement went effectively. On January 23, it held a press convention in Tel Aviv, Israel, the place FREE will begin supply in March. Prior to this, it began automobile supply in Norway final December. According to the plan, the model will enter Sweden, the Netherlands, Denmark and different nations in 2023.
In the previous two years, the value of lithium has soared and batteries have turn out to be brief in provide. In order to acquire steady provides and decrease prices, many car firms have sought put extra suppliers, some have even begun creating batteries on their very own. Voyah’s new shareholders – Ganfeng Lithium and Sunwoda – are each main firms of their respective fields.
SEE ALSO: First EV Model of Dongfeng Motor’s Voyah Delivers 136 Units in Norway
CATL, a battery chief, has already taken motion. At the top of final 12 months, a wholly-owned subsidiary of CATL gained the bid to spend money on automaker Chery Holdings, with a shareholding ratio of three.7252%, turning into its seventh largest shareholder. In Avatr, CATL holds 23.99% of shares, making it the second largest shareholder.
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