Changan KAICHENG Secures Over 2 Billion Yuan in Series A Funding
Changan Automobile’s commercial vehicle brand KAICHENG has recently announced the successful completion of its Series A funding round, raising over 2 billion yuan. This achievement marks a significant milestone in the company’s journey in the capital market.
The funding round was jointly led by Changan Automobile, government industrial funds, military equipment funds, CCB Investment, and other investors. With this new capital injection, Changan KAICHENG is set to accelerate its strategies in electrification, intelligence, pickup truck development, and global market expansion.
In the realm of electrification, the company plans to exclusively launch new energy vehicle (NEV) products starting in 2025. Over the next three years, they aim to introduce more than six NEV models to increase their share in the light-duty commercial NEV market.
On the pickup truck front, Changan KAICHENG aims to roll out four NEV models across three product series within the next three years, further solidifying their lineup. Looking ahead to global expansion, the company has set a target of achieving total sales of 600,000 units by 2030, with overseas sales accounting for 50% of the total.
The success of the Series A funding round reflects the confidence in Changan KAICHENG’s ambitious plans. The company sees this as a solid foundation for future equity financing and potentially an initial public offering (IPO) in the future.
Overall, the future looks promising for Changan KAICHENG as they continue to push boundaries in the commercial vehicle market with their innovative strategies and strong financial backing. Stay tuned for more updates on their journey towards growth and success.
