Tencent Invests in Automotive Producer Based by means of Roborock CEO

36Kr reported on Monday that many insiders printed that “Luoke Automotive”, the car undertaking of Chang Jing, founder and CEO of Roborock, had finished a financing spherical of $ 100 million on the finish of 2021. This spherical used to be led by means of Tencent and adopted by means of Sequoia Capital.

After Tencent invested in Luoke Automotive, a number of other people from NIO Capital and Meituan attempted to touch the brand new automotive maker to talk about funding issues, however they had been all rejected.

In keeping with the supply, “Tencent‘s funding on this spherical of financing exceeds $50 million”. At the present, Luoke Automotive is looking for a brand new spherical of financing value $2 billion.

Luoke Automotive is an automotive production undertaking began by means of Chang Jing, founding father of Roborock, on the finish of 2020. The location of Luoke Automotive’s first automotive is an off-road style benchmarked towards the Mercedes-Benz G Sequence, and with an intention to exceed 1,000 kilometers on a unmarried battery price. At the present, Luoke Automotive is headquartered in Shanghai, and Chang Jing is the Chairman of the corporate. Yan Feng, former CTO of WM Motor, has joined the corporate as CEO.

Roborock, a room sweeping robotic corporate based by means of Chang Jing, is a celeb undertaking in Xiaomi‘s ecological chain. The corporate as soon as hit a marketplace worth of just about 100 billion yuan at the Shanghai Sci-Tech Innovation Board (STAR Marketplace). Traders who had supposed to put money into Luoke Automotive mentioned that Chang Jing used to be not concerned within the day by day operations of Roborock, and that he spent maximum of his time on automotive merchandise.

SEE ALSO: In a foreign country Subsidiary of Chinese language EV Company NIO Would possibly Get started Promoting EVs in U.S.

At the present, NIO, Li Auto, XPeng and different new car producers are creating impulsively, however are dealing with power from new contenders, corresponding to smartphone large Xiaomi, who has simply entered the sphere. Lei Jun, founding father of Xiaomi, is recently re-adjusting his industry construction and is turning in the smartphone industry to Lu Weibing, President of Xiaomi, and focusing extra at the corporate’s automotive initiatives.