China: Leap Motor receives 2 billion Yuan capital
The Chinese electric vehicle startup Leap Motor has generated a total of 2 billion yuan (250 million euros) in their most recent financing round. They may even reach 2.5 billion yuan 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. The Hangzhou based company further confirmed that 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 26,000 euros, before subventions. As Leap Motor has not updated the details, we will assume that they still apply.
In Jinhua in the province Zhejiang, Leap Motor is currently building a factory with a planned production capacity of 250,000 EVs per year. It is planned to be completed in the first quarter of 2019.