Industry Newsroom

Lixiang Automotive Raises USD530 Million in Series C Round Led by Xing Wang

China-based electric vehicle producer Lixiang Automotive has secured USD530 million in a Series C funding round led by Meituan-Dianping founder and CEO Xing Wang. Other participants in the round include existing investors Plum Ventures, Matrix Partners, Bluerun Ventures, and Future Capital, as well as Lixiang founder Xiang Li and China-based internet technology company ByteDance. The deal reportedly values Lixiang at USD2.9 billion.