The electric vehicle producer is adding $300m to an initial $500m in series C-plus funding as the Alibaba, Foxconn, UCar and Xiaomi-backed company gears up for a US listing.
China-based electric vehicle (EV) producer Xiaopeng Motors is raising at least $300m from investors including e-commerce firm Alibaba to increase its series C-plus round to $800m, CNBC reported on Friday.
Alibaba confirmed its involvement to CNBC, and sources also identified Qatar’s sovereign wealth fund, Qatar Investment Authority, as an investor. Xiaopeng may raise an amount greater than $300m in the extension, as a number of investors are reportedly still in discussions about joining the round.
Aspex Management, Coatue Management, Hillhouse…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
