News Summary

• The company said Thursday that it already produced that number of commercial vehicles.In addition to expansion, Farizon said it will use its Series A funds to further its technology and product development.The funding round comes nine months after Farizon raised a pre-Series A round of $300 million.
• The Hangzhou-based company plans to use the funds to expand its operations outside of China.A key focus for Farizon’s expansion will be Europe, where the automaker plans to start selling a light electric cargo van called the Super Van as early as 2024.
• Farizon, a maker of hybrid and electric trucks owned by China’s Geely, has closed a $600 million Series A raise, the company said in a statement.
• The company sold about 37,800 light commercial vehicles in China in 2022, according to consultant group LMC Automotive.
• Farizon hopes the Super Van will become one of Europe’s top three e-cargo vans.Recently, California-based Rivian began to deliver its first e-cargo vans for Amazon in Europe.
• By the end of the year, Farizon has said it hopes to reach 150,000 units sold.