Chehejia, a Chinese-based electric car manufacturer, recently fund raised $530 million during a Series C round led by Wang Xing, CEO and Founder of Meituan. The company plans to use these funds to move into more mass production and begin shipping out their electric SUV this year.
Also known as CHJ and Leading Ideal, Chehejia has emerged as another potential homegrown rival to Tesla in China and poses a serious threat to Nio’s position in the crowded Chinese EV market.
Details: Wang Xing invested $300 million this round.
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