Stellantis-Backed Leapmotor Secures $530 Million Funding From Chinese State-Owned Automaker — Targets 4 Million Annual Sales In Next Decade - Stellantis (NYSE:STLA)

Stellantis NV-backed (NYSE:STLA) Chinese automaker Zhejiang Leapmotor has raised over $530 million in funding from the State-owned automaker FAW.Leapmotor Secures Funds Via Stock SaleThe company sold over 74,832,245 Domestic Shares to FAW, with each share priced at HK$55.29 ($7.11), as recently showcased in a filing with the authorities in Hong Kong on Sunday.  The total trade comes up to approximately $532 million.Leapmotor CEO and founder Zhu Jiangming outlined the company's target of 4 million annual sal ...