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“Luoke Automobile”, the automobile project of Chang Jing, the founder and CEO of Roborock, has completed a round D of financing worth $200 million, bringing the project’s valuation to $2 billion, 36Kr reported on Friday, citing people familiar with the matter.
The leading investor is Coatue, an American hedge fund. Well-known institutions such as Sequoia Capital and IDG Capital also invested. Luoke Automobile declined to comment on the report.
Although Luoke Automobile has never made official announcement, Chang’s successful entrepreneurial experience has brought much attention to the new auto business. Tencent
The positioning of Luoke Automobile’s first car is an off-road model benchmarked against the Mercedes-Benz G Series with the aim to exceed 1,000 kilometers on a single battery charge.
The first car of the Luoke Automobile is expected to be launched in 2023 with a price range of 300,000-500,000 yuan. At present, Luoke Automobile is headquartered in Shanghai with Chang Jing as the chairman of the company. Yan Feng, former CTO of WM Motor, has also joined the company as CEO.
Not long ago, information disclosed by the Tianyancha app showed that Anhui Luoke Automobile Manufacturing Co., Ltd. was established in Wuhu Economic Development Zone, Anhui Province, which gave rise to discussion about its plant base.
Compared with William Li and Li Xiang, the founder of NIO