Boyu Capital and Yuexiu Industrial Fund led a $600m Series A round in Geely-backed Farizon Auto.

Boyu Capital, an investment firm that invests in consumer, financial, health care, media and technology, and other retail sectors, and Yuexiu Industrial Fund, a corporate investment arm of Yue Xiu, led a $600m Series A round in Geely-backed Farizon Auto, a commercial vehicle manufacturer, with participation from United Clean Energy, Linjiang Industry Group, Hidden Hill and Industry Foundation of Xiangtan. "Farizon will utilize its new funds for further R&D, ecosystem development and global expansion, as the company continues solidifying its market-leading position in the new energy commercial vehicle market. Farizon is moving to establish itself in key markets outside of China, including the Asia Pacific, Middle East, South American and European markets," Geely.