XPeng Inc. from Qatar Investment Authority andAlibabaReceive an investment of US $300 million
Tesla和NIO Inc.After the rise in car share prices, investors' interest in electric vehicle manufacturers increased.
XPeng Inc., a Chinese electric car start-up, is raising more money from BABA and other investors before planning an IPO in New York, according to people familiar with the matter.
People familiar with the matter said that XPeng Inc. received a total of 300 million US dollars in investment, and the Qatar Investment Authority is also one of the investors. People familiar with the matter spoke on condition of anonymity because the news was not made public. XPeng Inc. announced a round of pre-IPO financing last month, which brings its pre-IPO fundraising to $800m. 'The increase in financing reflects the demand of investors, 'said a person familiar with the matter.
Guangzhou-based XPeng Inc. is likely to raise more money before its IPO, as investor interest in electric vehicles has increased with the rise in electric-vehicle stocks such as Tesla, Inc. and U.S.-listed NIO Inc. Motor this year, people familiar with the matter said. XPeng Inc. competes with the two companies and a range of other Chinese start-ups. China is currently the largest market for electric vehicles in the world.
The company has secretly submitted an application to go public as early as this quarter with the Securities and Exchange Commission, according to people familiar with the matter.
A representative of XPeng Inc. declined to comment. A spokesman for BABA, an early investor in XPeng Inc., confirmed that the company was involved in the latest round of financing, but did not provide details. The Qatar Investment Authority, a new investor, did not respond to a request for comment. The South China Morning Post earlier reported an increase in financing.
Chinese electric carmakers have been developing cars for years and trying to raise their profile around the world. At a time when the market is affected by the epidemic and the economic slowdown, Chinese electric carmakers are taking steps to go public to improve their competitiveness.Li Auto Inc.Last week, it raised $1.1 billion through a listing on Nasdaq; Naxi said it would list in Shanghai as early as next year. Weimar is also considering an IPO in China as early as this year, according to people familiar with the matter.
XPeng Inc. delivered 5185 of his first car, the G3 SUV, in the first half of this year. The company began delivering its second car, the P7, in July, with 1641 cars delivered that month.
At the same time, the market competition is becoming more and more fierce. Tesla, Inc. registered a record number of cars in China in June; BMW and Mercedes-Benz are also launching electric cars.
Responsible editor: Guo Mingyu