Home / China News / News detail

Roborock founder's automaking project said to decline investment from NIO Capital, Meituan

Gabriella From Gasgoo| January 25 , 2022 11:53 BJT

Beijing (Gasgoo)- The CEO of China’s Roborock intelligent cleaning robot company, Chang Jing, has reportedly raised $100 million from Tencent and others at the end of 2021 for his automaking project, Luoke Auto.

Roborock founder's automaking project said to decline investment from NIO Capital, Meituan

Photo credit: Roborock

As the leading investor, the tech giant, Tencent is said to put in over $50 million in this financing round. Currently, Luoke Auto is kicking off a new investment round, with a $2 billion valuation, sources close to the matter told a local media outlet.

The media asked Luoke Auto but was not replied. On the other hand, Tencent responded to the media outlet with “no comment”.

Luoke Auto is Chang Jing’s car-making project founded at the end of 2020. With the founder being an off-roader maniac, Luoke Auto’s first production model is set to rival the Mercedes-Benz G Series. The company intended to endow over 1,000 km of range to its first model with the help of range extension technology.

2020 might seem like five years late to enter the auto industry, compared to other popular Chinese auto startups, like NIO and Li Auto. However, Chang Jing still holds an upper hand with his higher start. The entrepreneur’s automated floor cleaning robot company, Roborock, is a star within the Xiaomi ecosystem, with a hundred-billion-yuan market value on the Science and Technology Innovation Board once.

Notably, with the tech giant and head financial organization participating, Luoke Auto’s investment round has tipped off the industry. After Tencent’s investment, NIO Capital and Li Auto’s investor Meituan also came in contact with the new star but were declined by Chang Jing.

Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:buyer-support@gasgoo.comSeller Service:seller-support@gasgoo.com

All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us: autonews@gasgoo.com