Sequoia China invests in Leapmotor

Shanghai (Gasgoo)- Leapmotor, a Chinese new energy vehicle startup, revealed that its pre-A round of financing was led by Sequoia China, which has consequently become the only investor after the initial shareholders.

On the sidelines of the fourth World Internet Conference, starting from December 3 in Wuzhen, Zhejiang province, Sequoia China and Leapmotor held their investment framework agreement signing ceremony. The two companies will join hands to embrace the electrification, intelligence, connectivity and sharing trend of future travelling.

Neil Shen, the founding and managing partner of Sequoia Capital China, said at the ceremony that Sequoia has expansive layout in auto industry, covering new energy power system, ADAS, ride sharing, aftermarket and auto financing.

Besides, Neil spoke highly of the carmaker’s achievements in the past two years, which focuses on electric vehicle technology, intelligent connected technology, intelligent driving and the body lightweight from the very beginning of its foundation.

Founded in 2015, Leapmotor unveiled its first mass-production model Leapmotor S01 last month. S01 targets young customers, featuring many advanced functions such as on-board voice recognition, face recognition system.