A consortium of investors led a $167.5m Series Pre-A round in Cavan Auto.

A consortium of investors including Beijing Green Energy and Low-Carbon Industry Investment Fund, FOTON, BAIC Capital, Bosch Ventures, Boyuan Capital, Guotai Junan, CICC and Jinyuan, led a $167.5m Series Pre-A round in Cavan Auto, a company developing commercial vehicles powered by battery-electric and hydrogen fuel technologies.