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Xpeng Motors Announces ~US$500mn Series C+ Financing

Xpeng Motors Announces ~US$500mn Series C+ Financing

07/20/20, 4:51 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/CN.svgguangzhou
Money raised
$500 million
Round Type
series c
Xpeng Motors (the “Company”), a leading smart electric vehicle (“Smart EV”) company in China, today announced the signing of its Series C+ financing of around US$500 million with a group of investors including Aspex, Coatue, Hillhouse Capital and Sequoia Capital China.

Company Info

Company
Xpeng Motors
Location
guangzhou, guangdong province, china
Additional Info
Xpeng Motors is a leading Chinese Smart EV company that designs, develops, manufactures and markets Smart EVs. The Company's initial backers include its Chairman and Chief Executive Officer, Xiaopeng HE, who also served as the co-founder of UCWeb Inc. and a former executive of Alibaba Group. Established in 2015, Xpeng Motors has a senior management team with diverse backgrounds, including its Co-founders, Heng XIA and Tao HE, both former senior executives of Guangzhou Automobile Group Co., Ltd. with expertise in innovative automotive technology and R&D, and its Vice Chairman and President, Brian GU, former Chairman of J.P. Morgan Chase Asia Pacific Investment Bank. It has received funding from Alibaba Group, Xiaomi Corporation and other prominent institutional investors including IDG Capital, Morningside Venture Capital, GGV Capital and Primavera Capital. The Company launched its first Smart EV model, the G3 SUV, in December 2018, and its second Smart EV model, the P7 sports sedan, in April 2020. Xpeng Motors is headquartered in Guangzhou, China with offices in Beijing, Shanghai, Silicon Valley and San Diego in the U.S. and manufacturing plants in Zhaoqing and Zhengzhou. For more information, please visit the official website: https://en.xiaopeng.com/