VOYAH Automobile Owned by Dongfeng Motor to Operate Independently

voyah
(Source: VOYAH)

VOYAH Automobile, a luxury electric vehicle brand owned by Dongfeng Motor, started to operate independently on June 26th, which is partly showed by its registered name VOYAH Automobile Technology Co., Ltd.

VOYAH Automobile Technology Co., Ltd. was jointly funded by Dongfeng Motor Group Co., Ltd. and the Core Employee Stock Ownership Platform of VOYAH Automotive. Core employees own more than 10% of VOVAH’s equity. Its business scope includes automobile production, research and development of auto parts, as well as sales of new energy vehicles, electrical accessories related to new energy vehicles, and production and testing facilities of new energy vehicles.

 “VOYAH Automobile is a user-oriented technology enterprise. We have launched an equity incentive plan for core talents, in order to improve the flexibility of our structure and attract high-end talent. We will also introduce strategic investors to explore more possibilities in the capital market,” Lu Fang, CEO of the new company said.

VOYAH Automobile was officially established on June 16, 2020. At present, there are more than 2,000 employees in VOYAH, half of whom engage in R&D. The company has opened 14 direct sales stores nationwide, and plans formore than 50 direct sales stores by the end of this year.

VOYAH Automobile will unveil at least one new car every year from 2021 onwards. It will branch into sedans, SUVs, MPVs, and other market segments in the next five years, expanding its product lineup in high-end electric vehicles. Its sales volume will reach 150,000 by 2025, according to the “14th Five-Year Plan” of Dongfeng Group.

VOYAH FREE, the first model of VOYAH Automobile, was officially launched on June 19th. The car is being touted as a “Performance-level Intelligent Electric SUV”. It provides two versions, namely, extended-range electric vehicles and pure electric vehicles. The former is priced at 313,600 yuan above, while the latter is set at 333,600 yuan above. It is expected to be delivered in the third quarter of this year.

“VOYAH Automobile operates as an independent firm, which reflects Dongfeng Group’s determination in developing high-end new energy vehicles and reform and innovation,” You Zheng, deputy general manager of Dongfeng Motor, said.

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At present, high-end intelligent electric vehicles are on the cusp of dramatic changes.  In addition to Tesla, Nio, Ideal and other car giants, traditional car companies such as SAIC and Changan have also jumped on the bandwagon. “VOYAH Automobile will continue to offer unique products and technologies to create an excellent user experience and service system,” Lu Fang said.