Leapmotor

Hangzhou government fund invested RMB 3 billion and other investors included CICC Capital, according to the announcement.

Leapmotor received 6,540 orders in July, up 59 percent from June. To date, Leapmotor has accumulated orders for 28,055 units for 2021, the company said.

Leapmotor, the Chinese electric car startup that just announced it has received a license to manufacture cars as well as financing, has big ambitions in the self-driving space.

Leapmotor founder Zhu Jiangming said the company is confident in its self-driving technology and expects to achieve full-scene autonomous driving by 2024 and surpass Tesla within three years.

Leapmotor said Wednesday that its plant in Jinhua, Zhejiang province, has been qualified to produce new energy vehicles. That means the company's products can be produced under the name Leapmotor, rather than its OEM.

Leapmotor will likely file for an IPO in the second half of this year and is expected to list on China's Nasdaq-style sci-tech innovation board, also known as the STAR market, in late 2021 or early 2022.

Leapmotor delivered 3,941 units in June, up 893 percent year-on-year and up 23 percent from May.

Leapmotor delivered 3,195 units in May, up 1,226 percent from a year ago and 15 percent from April.

Chinese power and energy company Gotion Hi-tech has entered into a partnership with electric vehicle brand Leapmotor to supply the latter with electric cells.

Leapmotor said it received 5,588 orders for the month, including 3,388 for the Leap C11, which has been available for pre-order since January 1.