Chinese electric vehicle maker Leap Motor raises $290m in funding

Photo: Reuters

Hangzhou-based electric vehicle maker Leap Motor has raised RMB2 billion ($290 million) for its ongoing Series A round led by Shanghai Electric Group, it said in an announcement on November 21.

The startup aims to raise RMB2.5 billion ($360 million) by the end of the year. Other investors that joined the round are existing investors Sequoia Capital China and Industrial Securities.

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