 | |
| Product type | Automotive |
|---|---|
| Owner | Geely |
| Country | China |
| Introduced | 2016 |
| Markets | China |
| Website | https://www.geelycv.com/ |
Yuancheng Auto (Chinese: 远程汽车; pinyin: Yuǎnchéng Qìchē) or Farizon Auto is a commercial brand of Geely that was formed in 2016 to focus on the development and sales of commercial vehicles in China and has launched several long-range capable truck and bus solutions. The company raised over $300 million in a Pre-A Round in October 2022 led by GLP's investment arm Hidden Hill Capital,[1] and $600 million in a Series A funding round in July 2023, led by Boyu Capital and Yuexiu Industrial Fund.[2] The factory was later acquired by the Chinese electric commercial vehicle company Yuancheng Auto, which in conjunction with Myoung Shin. The company plans to manufacture CKD-made electric trucks for the China market.[3] On May 29, it was announced that it would give up production of finished vehicles and switch to the automobile parts and automation equipment business.[4]
- ^ "Chinese automaker Geely's new energy brand Farizon raises over $300 mln". Reuters. 2022-10-27. Retrieved 2023-07-20.
- ^ "Geely truck unit, Farizon, raises $600 million in funding round". Reuters. 2023-07-20. Retrieved 2023-07-20.
- ^ "군산공장 인수한 명신, 4년 동안 생산은 전무". Hankyong (in Korean). 2023-06-01. Retrieved 2023-06-01.
- ^ "명신 군산공장, 자동차부품·자동화설비 사업으로 전환". Newsis (in Korean). 2024-05-29. Retrieved 2024-05-29.