Hefei led a $663m Series B funding round in Leapmotor.

Synopsis

Hefei municipal government led a $663m Series B funding round in Leapmotor, an automobile manufacturer. The round was joined by SDIC Chuangyi, ZJU Jiuzhi Investment Management and Yonghua Capital. The funds raised will mainly go towards research and development, sales channel expansion and brand promotion.

Principals

target

Zhejiang Leapmotor Technology Co (leapmotor)

bidder

Yonghua Capital

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Market Context