VOYAH Auto Drops 13.2% on Hong Kong Debut as NEV Competition Intensifies

On March 19, Voyah Auto, the new energy vehicle (NEV) brand under Dongfeng Motor Group, officially listed on the Hong Kong Stock Exchange (stock code: 07489.HK), becoming the first NEV company backed by a central state-owned enterprise to go public. On its debut day, Voyah opened at HK$7.50 per share and closed at HK$6.51, down 13.2%. The company attributed the decline to the overall weak performance of the Hong Kong stock market that day—the Hang Seng Index fell 2.6%, and the Hang Seng Tech Index dropped 2.19%. Founded in 2021, Voyah has launched five models priced between RMB 200,000 and RMB 500,000. Its MPV, the "Dreamer," launched in May 2022, has delivered strong sales performance and is expected to account for over 50% of total deliveries from 2023 to 2025. The company targets annual deliveries of 50,000, 80,000, and 150,000 vehicles in 2023, 2024, and 2025, respectively.