Voyah Posts H1 Loss as Rising Costs Eat Into Revenue Gains

Voyah posted a net loss of 389 million yuan in the first half of the year, a sharp reversal from the profit it recorded in the same period last year. The loss came even as revenue grew, underscoring how rising raw-material costs are squeezing margins for the upstart brand.

The Dongfeng-backed maker, known for its premium electric vehicles including the Free, Dream and Zero models, has been pushing hard to scale up production and sales across China. But higher prices for key inputs have made it difficult to convert that revenue growth into bottom-line profit.

Raw-material cost pressures have been a recurring theme across the new-energy-vehicle industry this year. Lithium carbonate and other battery materials, while down from their 2022 peaks, have seen price volatility that complicates cost planning for automakers trying to offer competitive pricing in an increasingly brutal price war.

Voyah has not yet broken down the specific cost drivers behind the H1 swing to loss or provided guidance for the second half.