The EV manufacturer, backed by Alibaba, Duowan, Foxconn, UCar and Xiaomi, has filed to float in Hong Kong, and will potentially raise almost $2bn.

Xpeng, the China-based electric vehicle (EV) producer backed by corporate investors Alibaba, Duowan, Foxconn, UCar and Xiaomi, filed for an initial public offering on the Stock Exchange of Hong Kong on Wednesday.

The offering will involve the company issuing 85 million class A ordinary shares priced at lower than HK$180 ($23.20) apiece, which would raise up to $1.97bn. The final price will be determined after June 30.

Xpeng had already floated on the New York Stock Exchange in a…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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