Roborock’s founder bags $200 million for Luoke Auto

Beijing (Gasgoo)- The founder and CEO of China’s Roborock intelligent cleaning robot company, Chang Jing, has reportedly completed his D financing round with roughly $200 million raised for his automaking project, Luoke Auto.

Photo credit: Roborock

The round was led by Coatue and participated by Sequoia Capital and IDG Capital. The project is valued at $2 billion. 

At the end of 2021, Luoke Auto raised over $50 million in its C investment round, led by China’s well-known tech giant Tencent. Chang Jing has reportedly turned down NIO Capital, and Meituan regarding the auto-making project. 

Luoke Auto’s first production model is expected to be a range extended off-roader in the RMB300,000-500,000 ($45,521-75,869) market. According to Chang Jing’s previous statement, the off-roader is likely to feature a range of over 1,000km. The vehicle is estimated to be ready for the public eye in 2023. 

Luoke Auto is currently headquartered in Shanghai with Chang Jing as president. The former CTO of WM Motor, Yan Feng, has joined the company, assuming the position of CEO. 

In addition, Luoke Auto has established a subsidiary in Anhui province, namely Anhui Luoke Auto Manufacturing Co., Ltd., according to the corporate database Qichacha.