The smart electric carmaker, which has raised a reported $2.5bn from investors including Alibaba, Foxconn, UCar and Xiaomi, has set a placeholder target of $100m.
Xpeng, the China-based electric vehicle (EV) producer also known as Xpeng, filed for an initial public offering in the United States on Friday, with corporates Alibaba, Foxconn, UCar and Xiaomi set to exit.
The company has set a $100m placeholder amount as a target for the offering, which is slated to take place on the New York Stock Exchange. Credit Suisse Securities (USA), JP Morgan Securities and BofA Securities are joint bookrunning managers for the IPO.
Founded in 2014,…
