Dahua, Shanghai Electric and CRRC are set to exit the smart EV manufacturer, which is reportedly set to raise at least $1bn in the flotation.

Leapmotor, the China-headquartered electric vehicle (EV) producer that counts corporates Dahua Technology, Shanghai Electric and CRRC among its investors, has filed for an initial public offering on the Hong Kong Stock Exchange.

The company did not disclose the number of shares it plans to offer or the size of the offering, but sources privy to the development told Bloomberg in November 2021 it was aiming to raise in excess of $1bn through the IPO.

Founded in 2015, Leapmotor manufactures smart…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.