Mar 22, 2018 - based automobile startup Chehejia Information Technology (CHJ Automotive) has announced the recent completion of RMB 3 bn in Series B funding from Matrix Partners China and a new energy fund in Shougang Fund's portfolio. Also participating in the new financing were prior-round investors Source Code Capital, department store chain Intime Retail Group (1833.HK), BlueRun Ventures, Minshi Hexun Capital, and Fancheng Capital. China Taihecap served as the exclusive financial advisor of the financing. Including Series A and angel funding, CHJ Automotive has raised a total of RMB 5.755 bln.

CHJ Automotive also announced the formation of a strategic partnership with Chinese taxi booking and car hire service app Didi Chuxing. The two companies will create a joint venture to customize production of electric cars for use in the shared transportation industry. Didi Chuxing and CHJ Automotive will also partner on intelligent networks, autonomous driving, and smart car fleet operations.

CHJ Automotive's other product line, a 7-seat luxury SUV, will produce its first engineering prototype in April for immediate testing. The project began in early 2016 and is targeted at the RMB 250,000-400,000 mid-high-end family market. The SUV uses a "fusion power" solution. CHJ Automotive plans to formally announce its launch in H2 2018 with mass production for delivery in 2019.

Source: https://www.marbridgeconsulting.com/marbridgedaily/2018-03-22/article/109145/electric_car_maker_chj_automotive_wins_rmb_3_bln_series_b