Xpeng Motors is priming for a public listing in New York where it could raise up to $1.1 billion from high-profile backers including Alibaba and Xiaomi.
Last month, reports began circulating on Chinese media that Xpeng had secretly filed to float shares on a US stock market.
Six-year-old Xpeng Motors now has a market capitalization of nearly $15 billion, nearing the size of a number of giant Chinese automakers.
Starting at $38,400, the sedan is designed to compete with Tesla’s Model 3.
Xpeng manufacturing partner Haima Auto is ready to follow Chinese biggest carmaker SAIC into the Indian market
Tesla requested access to Xpeng’s entire repository of autonomous-driving source code and clones of its executives’ hard drives.
Many players in China’s once-thriving EV battlefield face a struggle to convince new investors to come on board.
There could be more consequences to come as Nio is in advanced plans to enter the competitive mass auto market.
Electric vehicle maker Xpeng Motors is working to secure a production license to deliver its first sedan in July with the recent acquisition of a domestic automaker. Why it matters: Owning a factory allows Xpeng to retain control over quality and minimizes risks from outsourcing production such as delivery delays and price increases. Beijing has […]
Sales personnel reportedly kept silent when asked about new model releases.