(Yicai Global) Jan. 24 -- Rox Motor, a car-making project set up by Chang Jing, founder and chief executive of robot vacuum maker Beijing Roborock Technology, closed a USD100 million financing round late last year, according to tech website 36Kr.

The round was led by Tencent Group Holding, which put in more than USD50 million, the report said, adding that Shanghai-based Rox Motor will pursue a new round of fundraising and is aiming for a market valuation of USD2 billion.

Tencent’s investment in Rox Motor may be a sign that the internet giant’s investment focus is shifting to hard technology and new energy sectors, analysts said.

Both Nio Capital, an investment firm set up by electric carmaker Nio, and shopping platform Meituan showed interest in investing in Rox Motor but were rejected, 36Kr cited a source as saying. “Maybe in Chang Jing’s eyes, Nio Capital means Nio and Meituan means Li Auto,” the person said.

Tencent Auto held a 10 percent stake in Nio with 17.9 percent of the voting rights as of last February, making it the second-largest shareholder in the automaker after William Li, Nio’s founder. Meituan owned 13.2 percent of Li Auto before its Hong Kong listing last July, and Meituan founder Wang Xing had a 6.8 percent stake.

Rox Motor was established on Jan. 8 last year. Its first model is a hardcore off-road vehicle with an extended range, similar to the Mercedes-Benz G series.

Editor: Tom Litting