VOYAH nabs 15-billion-yuan credit line from six banks

Beijing (Gasgoo)- VOYAH, the premium new energy vehicle brand of Dongfeng Motor, announced today it has secured a 15-billion-yuan credit line from six banks and formed a strategic partnership with the Wuhan Economic and Technological Development Zone Investment Group.

Zhuiguang sedan; photo credit: VOYAH

Shen Jun, CFO of VOYAH, stated in an interview that following the Series A financing last year, the company has plans for the next round of financing, Series B, as well as an IPO in the future. Additionally, VOYAH has implemented an employee stock ownership plan to incentivize and retain key employees.

In November 2022, VOYAH successfully completed the signing and delivery of its Series A funding agreement, raising nearly 5 billion yuan. Following the financing, VOYAH's market valuation reached approximately 30 billion yuan. 

Regarding the timeline for reaching the break-even point, Shen Jun emphasized that the market is constantly evolving, and the achievement of the break-even point depends on factors such as the effectiveness of promotional efforts and cost reduction initiatives. VOYAH aims to achieve the break-even point as soon as possible.