Newrizon (also known as QianChen Automobile) is a Shanghai-based developer of new energy commercial vehicles. Its core product focus is the electric-powered logistics vehicle iC1. The company said the latest financing will be used mainly for development and production of the evolving pure-electric iC1, which it expected to launch by the end of 2022. It also plans to develop large-capacity batteries to meet power needs for cold chain and intercity transportation. Newrizon intends to expand its autonomous driving and market development teams to help commercialize its full product line. The $50M Series B is intended to enable further R&D and market commercialization efforts for the company.

Total raised

$50M

Funding rounds

1

Latest round

Series B

Latest activity

Nov 2021