# Zhejiang Lingpao Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zhejiang-lingpao-technology-co

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Hangzhou, China
- Website: www.leapmotor.com
- Total disclosed funding: $952M
- Latest round: Series B (Jan 8, 2021)
- Investors on record: 6

## About

Established in 2015 and based in Hangzhou, China. Zhejiang Lingpao Technology Co., Ltd. is an intelligent electric vehicle company providing EIC systems, electric automobile R&D, sales, and telematics solutions. The founder, chairman of the board, and CEO, Jiangming Zhu has nearly 30 years of experience in electronics and AI technologies. In 2021, it delivered a total of 43,748 vehicles. As of July 31, 2022, it has built a nationwide direct-to-customer sales network consisting of 443 outlets covering 151 cities in China. In September 2022, it was listed on the Hong Kong Stock Exchange with stock code 09863. In October 2023, Stellantis Ventures invested in Zhejiang Lingpao Technology Co., Ltd. for EUR 1.5 billion. Following the transaction, Stellantis Ventures will hold a 20% stake in the company.

The company is engaged in intelligent electric vehicle design, R&D and manufacturing, intelligent driving, electric motor control, battery system development, and cloud-based vehicle networking solutions. It provides 15 customizable in-car functions based on user preferences, as well as car networking services, including remote vehicle control and cell phone voice control. Its flagship model C11 is a mid-sized smart electric SUV.

In 2022, the company's operating income was CNY 12.38 billion, and the net profit was CNY -5.11 billion.

## Funding rounds

- Series B, Jan 8, 2021, $664M — Yonghua Capital, Zhejiang University Venture Capital, SDIC Chuangyi
- Series A, Nov 20, 2018, $288M — Hong Shan, Industrial Securities, Shanghai Electric Power

## Investors

- Hong Shan — Series A
- Industrial Securities — Series A
- Shanghai Electric Power — Series A
- Yonghua Capital (https://capitalatlas.ai/funds/yonghua-capital) — Series B
- Zhejiang University Venture Capital — Series B
- SDIC Chuangyi (https://capitalatlas.ai/funds/sdic-chuangyi) — Series B