Chinese electric vehicle company Chehejia has raised a combined 780 million RMB (US$120 million) in series A funding at a valuation of 2.98 billion RMB from seven investors, according to company founder Li Xiang.

Founded in July last year, Chehejia is backed by a group of seasoned entrepreneurs. Li Xiang has launched two successful startups, Pcpop.com and US-listed automobile site Autohome.com. He is also a co-founder of NextEV, the electric car maker looking to take on Tesla. Li Xiang and Li Bin, another co-founder of Autohome.com launched NextEV last year to go after the top-tier electric vehicle market.

Unlike NextEV which is currently developing high-end concepts and supercars, Chehejia provides smart transportation solutions for mass market users. The ten-month-old startup is developing two smart car models: an SEV for short-distance urban transportation and a more powerful SUV for long-distance journeys.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.