Chinese ‘EV startup Xpeng Motors’ raises $400 million, takes on Xiaomi as key investor
Xpeng Motors, the Chinese electric vehicle startup sponsored by Alibaba and Foxconn, has raised a new infusion of $400 million in capital and has taken on Xiaomi as a strategic investor, the company declared.
The Series C incorporates a unidentified group of key and institutional financial specialists. XPeng Motors Chairman and CEO He Xiaopeng, who likewise partook in the Series C, said the got solid help from a considerable lot of its present investors. Xiaomi author and CEO Lei Jun recently put resources into the company.
"Xiaomi Corporation and Xpeng Motors have achieved significant progress through in-depth collaboration in developing technologies connecting smart phones and smart cars," Xiaomi's Jun said in an announcement. "We believe that this strategic investment will further dee...