6.444 Billion RMB: China's Largest Commercial Vehicle Financing Deal in Five Years

In a significant development for China's commercial vehicle industry, xcmg AUTO, a subsidiary of XCMG Machinery, has secured a record-breaking investment of 6.444 billion RMB in its latest financing round. This deal, announced on March 1, 2025, marks the largest commercial vehicle financing deal in China over the past five years.

XCMG AUTO's strategic investments came from 30 investors, including industry stakeholders, national-level funds, and companies. These investors brought valuable capital perspectives, fostering strategic synergies and strengthening the interaction between upstream and downstream supply chains. The investment showcases the capital market's unwavering confidence in XCMG's reform and development trajectory.

The mixed-ownership reform represents not only an infusion of capital but also an integration of resources and the release of new momentum. This reform will enhance collaboration across the industrial chain, drive technological cooperation, and expand market reach. It will play a critical role in building a closed-loop ecosystem for the new energy industry chain, injecting fresh energy into the growth of China's new energy sector. XCMG is committed to driving the green and intelligent transformation of the commercial vehicle industry.

In recent years, XCMG has proactively aligned with its dual-carbon strategy. The company's new energy product lineup covers pure electric, hybrid, and hydrogen fuel cell-powered vehicles, serving a broad range of applications including road logistics, construction, municipal sanitation, and mining operations. XCMG's diverse product portfolio is industry-leading in terms of coverage. Through its unwavering glocal strategy, XCMG's international influence continues to grow. The company has already launched KD factory production in the Middle East and Africa, advancing from simple trade export to deep localization and integration within these regions.

In 2024 alone, XCMG's new energy heavy truck sales reached 14,400 units, maintaining the highest total sales and market share in the industry for the second consecutive year. This milestone highlights XCMG's significant leap forward in the new energy sector, setting the stage for further breakthroughs and innovations in the years to come.

XCMG's record-breaking financing deal demonstrates the growing confidence and potential of China's commercial vehicle industry, particularly in the new energy sector. As the market continues to evolve and expand, companies like XCMG are well-positioned to capitalize on the opportunities presented by the green and intelligent transformation of the commercial vehicle industry.