Xugong Automobile Manufacturing raised 6.4 billion yuan in its latest funding round, Yicai Global reported Tuesday, citing a report from the National Business Daily.
Aluminum of China (HKG:2600, SHA:601600), China Baowu Steel and China Logistics Group were among the investors in the fundraiser, the report said.
The funds will be used to supplement the Chinese new energy truck manufacturer's technological and product development to accelerate the development of the new energy truck sector, the report said, citing Yang Dongsheng, the chair of the company's parent, Xuzhou Construction Machinery Group.
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