Nov 26, 2021 06:45 AM

BUSINESS

Leo Group’s $50 Million SpaceX Investment Hits a Wall

By Huang Rong and Han Wei

Founded by Musk in 2002, California-based SpaceX designs, manufactures and operates advanced rockets and spacecraft

Founded by Musk in 2002, California-based SpaceX designs, manufactures and operates advanced rockets and spacecraft

A Chinese internet services and manufacturing company’s high-profile plan to invest in billionaire Elon Musk’s aerospace company SpaceX hit a wall as a partnership formed for the investment fell apart.

Shanghai-based Leo Group (002131.SZ) said Thursday that it received a $50 million refund from Tomales Bay Capital Anduril III L.P. (TBCA), its partner for the planned investment in SpaceX, without elaborating.

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