Xpeng Motors Announces US$900mn Series C+ Financing

fromXpeng Motors2020/08/03

Xpeng Motors Announces US$900mn Series C+ Financing

 Investors include Aspex, Coatue, Hillhouse Capital and Sequoia Capital China

(August 3rd, 2020, Guangzhou) – We completed our Series C+ round financing which received US$900.0 million of proceeds from Alibaba, Aspex, Coatue, Hillhouse, Sequoia China, QIA and Mubadala.

The signing of the Series C+ financing demonstrates investors’ confidence in the Company’s strategy, market positioning and its long-term vision as a leading Smart EV player in China.

The Series C+ financing further enhances the Company’s commitment to serving the large and growing base of technology-savvy middle-class consumers in China by providing Smart EV experiences empowered by advanced technology. 

Xpeng P7 smart EV sports sedan

Xpeng Motors has reached several milestones in 2020 to date, despite the impacts of Covid-19, including launching its second Smart EV model, the P7 sports sedan - in April 2020, and securing the production license for its self-built fully-owned factory in Zhaoqing, Guangdong Province in May 2020.

The Company announced its Series C funding round of US$400 million in November 2019.