On June 30, it was learned from Foton Motor that its holding subsidiary Beijing CarvinNew energy vehiclesCo., Ltd. (hereinafter referred to as “Cavan New Energy”) successfully completed the Pre-A round of financing.
Image source: Screenshot of the announcement
It is reported that the total amount of funds raised in this financing exceeded 1.2 billion yuan, and new shareholders such as Beijing Green Energy Fund, Beiqi Foton and BAIC Industrial Investment andBoschExisting shareholders such as venture capital and Boyuan Capital have oversupported, and Guotai Junan Innovation Investment, CICC Capital, Jinyuan Group, etc. also participated in this round of financing.
According to the announcement, the financing adopts two methods: non-public agreement capital increase and public listing of the Beijing Equity Exchange, with a capital increase price of 1.50 yuan/registered capital, a total capital increase of 1.209 billion yuan, and a new registered capital of 805,848,668 yuan.
It is understood that after the completion of this capital increase, Foton Motor is still the controlling shareholder of Cavan Automobile, with a shareholding ratio of 63.59%. According to Foton Motor, Carvin Automobile’s capital increase and share expansion aim to share the resource advantages of all parties, solve problems such as funds in the process of Carvin Automobile’s business development, and concentrate superior resources to focus on cultivationNew energybusiness, which is conducive to the development of the company’s new energy commercial vehicle business and is in line with the company’s long-term interests.
Founded in 2022, Cavan New Energy is committed to building a new generation of new energy commercial vehicles with pure electric and hydrogen energy drives as the core. Since its establishment, Cavin New Energy has made significant progress in product research and development.
At the end of 2024, Cavin New Energy released its new energy technology strategy and the next-generation new platform concept car Beacon. In April this year, the Cavan New Energy European Ecological Partner Conference was held in Shanghai, completing the signing of the first batch of overseas strategic customers, marking the official entry of Cavan New Energy into overseas markets. In addition, its first product, Foton Caven Lef, has also been officially launched this year; New small trucks and light truck products will also be officially launched this year.
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