<article>Leap Motor, a Hangzhou-based Chinese electric vehicle startup, has raised an undisclosed sum in its pre-Series A round led by <a class="tinymce-colortext" style="color: #333399;" href="https://www.dealstreetasia.com/?s=Sequoia+China" target="_blank" rel="noopener">Sequoia Capital China</a>.</article>

Leap Motor, a Hangzhou-based Chinese electric vehicle startup, has raised an undisclosed sum in its pre-Series A round led by <a class="tinymce-colortext" style="color: #333399;" href="https://www.dealstreetasia.com/?s=Sequoia+China" target="_blank" rel="noopener">Sequoia Capital China</a>.
Sequoia China becomes two-year-old Leap Motor&#8217;s first institutional investor, according to a press statement by the Chinese firm.
Leap Motor was founded in 2015 and has been backed by Shenzhen-listed Dahua Technology Co Ltd, a provider of video surveillance products and services. It aims to produce fashionable smart electric cars for Chinese consumers.
The startup company has invested $395 million (RMB2.6 billion) in a 551-acres production land base with a 230,000-square-meter factory that began its operation last April. The factory is expected to produce 50,000 cars in the first year and will expand to a capacity of 250,000 cars a year in the future, a China Money Network report said.
Leap Motor last month launched its S01 model, a pure electric car with a maximum output power of 125 kilowatt and a 360-kilometer maximum range.
Sequoia&#8217;s previous investments in China&#8217;s growing automobile market include a $500-million funding in Shanghai-based Chinese electric vehicle maker <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=NextEV" target="_blank" rel="noopener">NextEV</a> along with <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Joy+Capital" target="_blank" rel="noopener">Joy Capital</a> and an unnamed investor last September. Last July, the VC firm also teamed up with <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=NIO+Capital" target="_blank" rel="noopener">NIO Capital</a> and <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Hillhouse+Capital" target="_blank" rel="noopener">Hillhouse Capital</a> to lead a $46-million Series B round in Beijing-based autonomous driving tech startup <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Momenta" target="_blank" rel="noopener">Momenta</a>.
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Leapmotor, a Hangzhou-based Chinese electric vehicle startup, has raised an undisclosed sum in its pre-A round led by Sequoia Capital China.

Sequoia China leads pre-Series A round in electric vehicle startup Leap Motor

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Sequoia China leads pre-Series A round in electric vehicle startup Leap Motor

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