Category: Voyah

Voyah secures $2.1 billion in credit lines from 6 local banks

China / Deals / Electric / eMobility / eV / Fund Raising / Industry News / Voyah
June 13, 2023

Voyah will raise a Series B round next and has plans for an initial public offering, its CFO said.

(A Voyah Zhuiguang on display at the Shanghai auto show. Image credit: CnEVPost)

Voyah, Dongfeng Motor's new energy vehicle (NEV) brand, has received RMB 15 billion yuan ($2.1 billion) in credit lines from six local banks, setting it up for future expansion.

Voyah held a signing ceremony for the partnerships with the Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, China CITIC Bank and China Merchants Bank.

Voyah will invest more in product development and marketing and launch more quality products, its CEO Lu Fang said, according to a press release.

The NEV maker has completed its Series A financing and will next raise Series B, Local media Shanghai Securities News quoted Voyah CFO Shen Jun as saying.

Voyah has plans for an initial public offering, and it will have more than 300 core employees holding shares, Shen said.

Voyah is the brand Dongfeng Motor announced in late 2020, when the first model, Voyah FREE, was also unveiled.

The Voyah FREE went on sale in China in June 2021 and is available in an extended-range electric vehicle (EREV) version as well as an all-electric version, with current starting prices of RMB 333,600 to 393,600 respectively.

On May 7, 2022, Voyah's second model, the Dreamer MPV, was launched with a starting price of RMB 369,900.

In November 2022, Voyah announced the completion of RMB nearly 5 billion Series A financing, valuing it at nearly RMB 30 billion.

On April 18 of this year, Voyah launched the Zhuiguang sedan on the first day of the Shanghai auto show, offering three versions with a starting price of RMB 322,900.

Voyah has had a lukewarm sales performance over the past two years, selling 3,003 vehicles in May, bringing combined January-May sales to 12,024 units.

For comparison, Li Auto (NASDAQ: LI), which currently only offers EREVs, delivered 28,277 vehicles in May for a combined January-May total of 106,542 vehicles.

($1 = RMB 7.1631)

Voyah deliveries in May: 3,003

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Voyah offers huge benefits for free for flagship sedan before delivery begins

China / Electric / eMobility / eV / Industry News / Voyah / Voyah Zhuiguang
May 18, 2023

Customers of the Voyah Zhuiguang sedan can now receive substantial benefits for free that previously cost RMB 72,000.

Voyah offers huge benefits for free for flagship sedan before delivery begins-CnEVPost

(Image credit: CnEVPost)

Voyah, Dongfeng Motor's new energy vehicle (NEV) subsidiary, launched its first electric sedan a month ago. Now it's starting to offer huge benefits for free before deliveries of the model have even begun, underscoring the fierce competition in the space.

In a post on its WeChat account today, Voyah announced that for customers who order its flagship sedan, the Zhuiguang, multiple options that previously required a fee to get are now available for free.

The options are worth a combined total of RMB 72,000 ($10,300) and include seat massage, air suspension, Dynaudio 14 speakers, steering wheel heating, and the so-called L2.9 assisted driving software package.

The package is effective from May 18 and is also available to customers who have already reserved the model.

Voyah said the free benefits are limited in time, but no expiration date was mentioned.

In addition to making those benefits free, Voyah has streamlined the Zhuiguang sedan lineup, reducing the number of available versions to two from the previous three.

Voyah made the Zhuiguang officially available on the first day of the Shanghai auto show on April 18, when it was offered in three versions starting at RMB 322,900, RMB 352,900 and RMB 432,900, respectively.

In today's announcement, Voyah retained the standard version with a starting price of RMB 322,900 and dropped the other two versions and instead launched a long-range version with a starting price of RMB 385,900.

Voyah previously referred to the two higher-priced versions of the Zhuiguang as the flagship and long range flagship editions, respectively.

Voyah offers huge benefits for free for flagship sedan before delivery begins-CnEVPost

(Image credit: CnEVPost)

Voyah is a brand announced by Dongfeng Motor in late 2020, with the first model, the Voyah FREE, launched in China in June 2021, offering a version with extended-range technology as well as an all-electric version.

On May 7, 2022, Voyah's second model, the Dreamer MPV, went on sale, with deliveries starting on July 16.

The Voyah Zhuiguang is 5,088 mm long, 1,970 mm wide and has a wheelbase of 3,000 mm. Its height includes two specifications of 1,515 mm and 1,505 mm.

The model comes standard with a dual-motor four-wheel drive system with a maximum power of 160 kW for the front motor and 215 kW for the rear motor.

Its powertrain has a total power of 375 kW and a maximum torque of 730 Nm, enabling the vehicle to accelerate from 0 to 100 km/h in 3.8 seconds.

The delivery date for the model has not yet been confirmed.

As Dongfeng Motor's flagship brand into the NEV market, Voyah has had a weak performance over the past year.

It delivered 3,339 vehicles in April and a total of 9,021 so far this year.

Voyah offers huge benefits for free for flagship sedan before delivery begins-CnEVPost

Yu Fei, Voyah's general manager of sales, has left, and people in the marketing business have seen many other changes, marking the collapse of the company's second-generation marketing management structure, which was put in place last July, local media outlet Yicai said in a May 13 report.

($1 = 6.9986 yuan)

Voyah's first electric sedan launched with starting price of $46,980

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Voyah’s first electric sedan launched with starting price of $46,980

China / Electric / eMobility / eV / Industry News / Product Launch / Voyah / Voyah Zhuiguang
April 21, 2023

Voyah Zhuiguang's starting price of RMB 322,900 is higher than the Rising F7's RMB 209,900 and lower than the NIO ET7's RMB 458,000.

Voyah's first electric sedan launched with starting price of $46,980-CnEVPost

(Image credit: CnEVPost)

Voyah, Dongfeng Motor's new energy vehicle (NEV) brand, made its first sedan model available to tap into the increasingly crowded mid-to-large-size electric sedan market.

Voyah officially launched the Zhuiguang (literally, chasing the light) on the first day of the Shanghai auto show on April 18, offering three versions with starting prices of RMB 322,900 ($46,980), RMB 352,900 and RMB 432,900, respectively.

That is higher than the starting price of RMB 209,900 for Rising Auto's F7 sedan, which went on sale late last month, and lower than RMB 458,000 for the NIO ET7.

The Voyah Zhuiguang is 5,088 mm long, 1,970 mm wide, with a height of 1,515 mm and 1,505 mm in two specifications, and a wheelbase of 3,000 mm.

Voyah's first electric sedan launched with starting price of $46,980-CnEVPost

The Rising F7 measures 5,000 mm in length, 19,53 mm in width and 1,494 mm in height, with a wheelbase of 3,000 mm. The NIO ET7 measures 5,101 mm in length, 1,987 mm in width and 1,509 mm in height, with a wheelbase of 3,060 mm.

The Voyah Zhuiguang is equipped with a dual-motor four-wheel drive system with a maximum power of 160 kW for the front motor and 215 kW for the rear motor.

Its powertrain has a total power of 375 kW and a maximum torque of 730 Nm, enabling the vehicle to accelerate from 0 to 100 km/h in 3.8 seconds.

The two less expensive versions of the car are equipped with a semi-solid-state battery with a capacity of 82 kWh, while the long-range version is equipped with a ternary lithium battery with a capacity of 109 kWh.

It is worth noting that the semi-solid-state battery does not give the model a significantly longer range: the 82 kWh version has a CLTC range of 580 km, while the 109 kWh version has a range of 730 km.

Voyah's first electric sedan launched with starting price of $46,980-CnEVPost

On fast charge, the Voyah Zhuiguang can achieve a range of 230 km in 10 minutes.

Voyah is the brand launched by Dongfeng Motor in late 2020, with the first model, the Voyah FREE, going on sale in China in June 2021, available in extended-range technology and in all-electric versions.

On May 7, 2022, Voyah's second model, the Dreamer MPV, was launched and deliveries began on July 16.

Voyah delivered 3,027 vehicles in March, up 116.21 percent year-on-year and up 173.44 percent from February, according to figures it announced earlier this month.

The brand delivered 5,682 vehicles in the first quarter, up 53.86 percent year-on-year.

Voyah's first electric sedan launched with starting price of $46,980-CnEVPost