The electric car developer plans to follow a $288m Shanghai Electric and CRRC-backed round in November with more than $370m in new funding.
Leap Motor, a China-based electric car developer backed by corporates Shanghai Electric and CRRC Corporation, is looking to raise RMB2.5bn ($372m) in funding, Reuters reported today, citing three people with knowledge of the matter.
The round is set to value the company at between $1.5bn and $1.65bn pre-money, according to two of the sources. The third claimed it will begin officially raising the money next month and plans to close the round by the end of September this year.
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