Pinwan, September 27, according to Sina Technology, people familiar with the matter said today that Geely Group’s electric truck brand “Yuanqi” is seeking financing of about 300 million US dollars. This is also the first round of financing for Long-distance Auto.
Singapore-based logistics and real estate giant GLP Pte will be the lead investor in this round of funding, according to people familiar with the matter. In addition, CPE backed by CITIC Investment, Mirae Asset of South Korea and GLy Capital Management (a Hong Kong investment company backed by Geely and SK) are also considering follow-up. Discussions are still ongoing, and specific details may change in the future.
In response, a Geely Group representative said the company does not comment on internal business. A spokesman for GLP Pte declined to comment, while Mirae Asset, CPE and GLy Capital Management have yet to comment.
According to information on the official website of Geely Group, Yuanyuan Automobile is a brand of Geely’s new energy commercial vehicles. It was officially released in October 2016, specializing in the production and sales of new energy and clean energy commercial vehicles. Last year, Fan Xianjun, CEO of Geely New Energy Commercial Vehicle Group, said that the group is considering an IPO within 3 to 5 years.
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- 2022-09-27It is reported that Geely’s electric commercial vehicle brand “Yuanqi” is seeking $300 million in financing
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