Leshi Super Electric Car Completes USD 1.08 Bln Series A
Sina Tech, 9/20/16
Beijing-based Leshi Super Electric Car, the electric car subsidiary of Leshi Holdings, has completed USD 1.08 bln in Series A funding, revealed Leshi Holdings CEO Jia Yueting. Investors that participated in this round include Yingda Capital Management, a subsidiary of the China's State Grid, Shenzhen Capital Group, Legend Holdings, China Minsheng Trust, Macrolink Group and Hongzhao Fund Management.
Editor's Note: Leshi Super Electric Car was set up by Leshi Holdings, an affiliate of Chinese online video content and smart device firm Leshi Internet Information and Technology (300104.SZ), to develop a smart transportation business ecosystem. It currently operates production facilities in the United States and China and its first electric vehicle is scheduled to enter mass production in late 2017. Chinese media site IT Juzi is reporting that this round is Leshi Super Electric Car's Series A. IT Juzi also notes that the USD 50 mln funding Leshi Super Electric Car received from Macrolink Group last month is separate from the Series A round. For more information Macrolink's investment, please see "Leshi Super Electric Car Lands USD 50 Mln Funding from Macrolink Group," MD 8/17/16 issue.
Keywords: Yingda Hongzhao Fund VC M&A hardware funding State Grid Series A Legend Holdings Shenzhen Capital Group Jia Yueting 300104.SZ Leshi Internet Minsheng Trust Leshi Super Electric Car Leshi Holdings
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