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Leap Motor Receives $290 Million Capital

Brian W in Technology

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Brian W    + 78

BW

The Chinese electric vehicle startup Leap Motor has generated a total of  $290 million in their most recent financing round. They may even reach more than $300 million by the end of the year, with the Shanghai Electric Group leading the way.

The capital will be invested in research and development, batteries, electric motors and support of marketing activities. Their electric Coupé LP-S01 will be available in January 2019.

Their vehicle features a 125 kW electric motor and can reach a range of about 360 km with a single battery charge. A year ago, it was announced that the vehicle would be available in March 2019 with a price of about $29,000, before subventions. 

https://electrek.co/2018/11/23/leap-motor-chinese-ev-startup-raises-fund/

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