The Shanghai Electric and CRRC-backed electric vehicle spinoff has now raised more than $1.06bn since being spun off by Dahua Technologies.
Leapmotor, the China-based electric carmaker backed by video surveillance technology producer Dahua Technology, energy utility Shanghai Electric and rolling stock manufacturer CRRC, has raised RMB4.3bn ($665m), Tech in Asia reported today.
The funding was secured through a series B round featuring a fund run by the city of Hefei, in addition to SDIC Chuangyi Industrial Fund Management, Hangzhou Jiuzhi Investment Management and Shanghai Yonghua Capital Management.
Founded in 2015, Leapmotor has launched an all-electric compact car, city car and sports…
