On October 25, 2021, Zhejiang Hozon New Energy Automobile Co., Ltd. closed the transaction. The company announced that it has received CNY 4,000,000,000 in the transaction. The transaction also included participation from CITIC Securities Investment Limited, Shenzhen Jifu Venture Investment Company Ltd., CCB International (Holdings) Limited and new energy industry investment fund, a fund managed by Shenwan Hongyuan (H.K.) Limited.

The round is raised at a pre-money valuation of CNY 21,567,200,0000 and post-money valuation of $4,000,000,000 (CNY 25,567,200,000).