- Dongfeng strengthened control over Voyah after increasing its ownership stake above 70%.
- Voyah achieved profitability in 2025 with strong revenue and vehicle delivery growth.
Dongfeng Motor has further consolidated its ownership in Voyah after one of its subsidiaries acquired additional H shares of the premium electric vehicle manufacturer through the secondary market. The latest transaction reflects Dongfeng’s continued commitment toward strengthening control over its EV business as competition intensifies in the premium electric mobility segment. Following the latest acquisition, the combined holdings of Dongfeng and its affiliated entities now exceed 70% of Voyah’s total issued share capital, reinforcing the automaker’s long-term strategic positioning in the fast-growing Chinese EV market.
Voyah confirmed that Dongfeng Motor (Hong Kong) International purchased 20.19 million H shares, representing nearly 0.55% of the company’s total issued share capital. After completion of the transaction, Dongfeng’s controlling shareholders collectively hold more than 2.438 billion domestic shares alongside approximately 138 million H shares. The move further strengthens Dongfeng’s influence over operational and strategic decisions at Voyah, which has emerged as one of the company’s key premium EV brands focused on higher-end consumers in China.
Voyah Expands Presence in Premium EV Market
Voyah was unveiled by Dongfeng in late 2020 and officially established in 2021 to target the premium electric vehicle segment. The company mainly focuses on vehicles priced between 200,000 yuan and 500,000 yuan, positioning itself against established premium EV manufacturers in the domestic market. Over the past few years, the brand has accelerated product development and market expansion efforts, contributing to significant increases in both sales volume and revenue performance as consumer demand for premium electric mobility solutions continues to rise.
Voyah Hong Kong Listing and Dongfeng Privatization Strategy
In August 2025, Dongfeng announced plans for Voyah to debut on the Hong Kong stock market through a listing by introduction while Dongfeng itself would proceed with privatization and delisting. A listing by introduction allows already issued securities to begin trading without issuing new shares or raising additional capital. The structure enabled existing shareholders to trade securities on the exchange while avoiding immediate fundraising activity. Dongfeng noted that valuation limitations had restricted its ability to conduct equity refinancing through its H-share platform since its own listing.
Voyah officially commenced trading on the Hong Kong Stock Exchange on March 19 this year under stock code 07489. The listing marked a significant milestone for the EV manufacturer as it continued expanding its operational scale and financial performance. Dongfeng’s strategy highlights a broader restructuring effort aimed at improving capital efficiency while giving Voyah greater visibility among global investors monitoring the premium EV sector.
Voyah Financial and Sales Performance Overview
The premium EV manufacturer reported strong financial momentum during 2025, achieving profitability for the first time with a net income of 1.02 billion yuan. Revenue climbed sharply to 34.86 billion yuan in 2025 compared with 12.75 billion yuan in 2023. Vehicle deliveries also experienced rapid growth during the same period, supported by rising demand and broader product adoption across the domestic EV market.
Voyah Revenue and Vehicle Sales Growth
The table below highlights Voyah’s recent financial and vehicle delivery performance.
| Metric | 2023 | 2025 |
|---|---|---|
| Revenue | 12.75 Billion Yuan | 34.86 Billion Yuan |
| Vehicle Sales | 50,285 Units | 150,169 Units |
Voyah maintained growth momentum during the opening months of this year as well. The company delivered 49,038 vehicles during the first four months, representing a year-on-year increase of 36.02%. The continued rise in deliveries indicates sustained market demand for Voyah’s premium EV portfolio and supports Dongfeng’s broader electrification ambitions within the competitive automotive industry.
Frequently Asked Questions
Why did Dongfeng increase its stake in Voyah?
Dongfeng increased its ownership in Voyah to strengthen control over its premium EV operations and reinforce its long-term electrification strategy. The additional H-share purchase lifted the combined holdings of Dongfeng and affiliated entities above 70% of Voyah’s total issued share capital. This move also supports Dongfeng’s broader restructuring and market positioning efforts following Voyah’s Hong Kong listing. Strengthening ownership may help improve strategic coordination, accelerate expansion plans, and enhance investor confidence in the premium EV business.
How has Voyah performed financially in recent years?
Voyah recorded significant financial growth and achieved profitability in 2025 with a net income of 1.02 billion yuan. The company’s revenue increased from 12.75 billion yuan in 2023 to 34.86 billion yuan in 2025, while vehicle sales rose from 50,285 units to 150,169 units during the same period. In the first four months of this year, Voyah delivered 49,038 vehicles, reflecting a 36.02% year-on-year increase. These results demonstrate strong market demand and improving operational performance for the premium EV manufacturer.
Click above to visit the official source.