Cavan Auto, a new energy commercial vehicles manufacturer based in Beijing and majority-owned by Chinese auto company Foton, has successfully concluded its Series Pre-A funding round, raising over 1.2 billion yuan (approximately $167.5 million). The company specializes in producing pure electric vehicles (EVs) and hydrogen fuel cell-powered new energy vehicles (NEVs) for commercial applications in the logistics sector, with a focus on urban and inter-city transportation as well as truck line logistics. The funding round attracted new investors, including the Beijing Green Energy and Low Carbon Industry Investment Fund, indicating strong support for the company's green technology initiatives. Cavan Auto's global expansion plans are backed by its commitment to leveraging China's expertise in green vehicles and manufacturing capabilities. The company aims to introduce its eco-friendly logistics vehicles to international markets, particularly focusing on the Middle East, Western Europe, and Asian markets. Despite challenges in tariff negotiations with the US and the EU, China's NEV exports have demonstrated robust growth, with NEVs accounting for a significant portion of total vehicle exports. The recent funding will empower Cavan Auto to invest in research and development, forge strategic partnerships, and enhance its digital infrastructure to drive innovation in the green commercial vehicle sector. The company's shareholders, including Foton and other key stakeholders, are aligned in their support for Cavan Auto's mission of sustainable transportation solutions. Founded in late 2022, Cavan Auto has received substantial backing from prominent entities such as Foton, Boyuan Capital, Robert Bosch Venture Capital, SinoHytec, and BAIC Group's investment arm, positioning it as a key player in the green vehicle industry.