HOZON Successfully Secures Over CNY 5 Bn in Financing

Automotive Author: Notrice Apr 19, 2024 05:04 PM (GMT+8)

EqualOcean has learned that HOZON(合众汽车) recently announced the successful acquisition of over CNY 5 billion in financing, with major investors including Tongxiang State-owned Capital Investment Operation Co., Ltd.(桐乡市国有资本投资运营有限公司), Yichun Jinhe Equity Investment Co., Ltd.(宜春市金合股权投资有限公司), and Nanning Minsheng New Energy Industry Investment Partnership Enterprise(南宁民生新能源产业投资合伙企业).


Established in October 2014 and headquartered in Tongxiang, Zhejiang, HOZON is a robust automobile manufacturing enterprise. Since its inception, HOZON has undergone multiple rounds of financing, with previous investors including Hongli Zhihui(鸿利智汇), Yihuatong(亿华通), Xinchanghong(和新昶虹), Zhihe Travel(知合出行), and Zhehua Investment(浙华投资).Currently, HOZON has stated that it is coordinating relevant resources to strive for an initial public offering (IPO) at the earliest opportunity.

According to EqualOcean, since 2023, HOZON' renowned electric vehicle brand, Neta(哪吒), has accelerated its overseas expansion, continuously launching new models in international markets, performing notably well in markets such as Thailand, and introducing new models in countries like Malaysia. In 2024, Neta further expanded its international presence by announcing its entry into the Brazilian market. Previously, Neta announced the completion of a Series C financing round totaling CNY 7 billion.

Currently, financing, delivery, and revenue generation capabilities remain the three major challenges facing emerging automobile companies such as HOZON. From sales data, it is evident that BYD (比亚迪)holds a firm market advantage. In the high-end new energy vehicle sector, Tesla and emerging player Xiaomi(小米) are rapidly rising. Brands such as NIO(比亚迪), Xiaopeng(小鹏), and LEADING IDEAL(理想汽车) are also attracting considerable attention.

The year 2024 sees intense competition in the automotive market, with over a dozen leading new energy vehicle companies such as BYD, Li Auto, and Leapmotor(零跑) engaging in price wars in domestic and international markets, while new players emerge and established players seek transformation. Consequently, how HOZON and its subsidiary Neta respond to this challenge will be a significant test.