Fund Raising

Leapmotor's overall sales target for 2025 is 800,000 units, the company said previously.

DeepRoute.ai said it closed a $300 million Series B funding round led by Alibaba, making it the first such company in China that the e-commerce giant has invested in.

The company plans to use the net proceeds from the offering to further strengthen its balance sheet, as well as for general corporate purposes, Nio said.

This is the first local equity financing in China's ride-hailing industry in 2021, and is an ice-breaker after the crackdown on Didi Chuxing.

Alpark was founded in 2015 and closed a hundreds-of-millions-of-RMB Series B round of funding led by Nio Capital, Nio's venture capital arm, in 2018.

Svolt Energy added several new shareholders on August 18, including Hubei Xiaomi Changjiang Industry Fund, backed by smartphone giant Xiaomi.

Nio Capital, the venture capital business of Nio, first invested in NewLink in 2019 and has participated in a total of three of its financings.

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

The capital will be used primarily to support the mass production and delivery of LiDARs for the Nio ET7, as well as Innovusion's innovation programs.

Chinese power battery maker Svolt Energy recently announced the completion of a Series B financing round totaling RMB 10.28 billion ($1.59 billion).