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Chinese electric vehicle start-up Xpeng Motors has raised US$400m from investors for New Product Development (NPD) and is planning to bring to market a number of new models in its pipeline. Among Xpeng’s investors are smartphone maker Xiaomi, Alibaba and Foxconn Technology Group.
Wang Tong has joined Xpeng Motors as Vice President, responsible for enhancing the company’s Beijing and Shanghai operations. He joins from Alibaba’s Culture and Entertainment Business Group, where he was VP responsible for public affairs and information security development. Before Alibaba, he was Senior VP for UC Web, responsible for its human resource management, branding, government affairs and corporate culture development. Wang has 20 years of experience in public affairs, government relations and organisational management.
Lv Xueqing has joined Xpeng Motors as Financial Vice President. Based in Xpeng’s Guangzhou office, he will be in charge of the construction, operation and auditing of the company’s financial system. Lv brings nearly 30 years of auto industry experience, having worked as CFO in Yutong Bus, Ford China Region, and JMC. This experience has nurtured his expertise in building financial management frameworks, operational strategy analysis, investment analysis, and credit and risk analysis and control.
XPENG Motors announces US$400 million Series C capital funding
Xpeng Motors today announced the signing of its Series C capital funding of US$400 million from a group of strategic and institutional investors, bringing together an unparalleled combination of corporate and individual investors, as well as renowned private equity firms. The company announced that Xiaomi Corporation, a global leader in the technology and consumer electronics sector, will join as a strategy investor.
Xpeng Motors achieved numerous milestones this year. The company premiered its 2nd production model, the P7 sedan in April, rolled out the 10,000th unit of its first production model the G3 2019 smart SUV in June, and in July it released the enhanced version, the G3 2020 with a 520km NEDC driving range. Also in July, the G3 obtained the highest total score of 92.2% among electric vehicles in the latest China New Car Assessment Program (C-NCAP) safety test.
The company plans to launch the P7 sedan in the spring 2020 and will start delivery in 2Q 2020.
Chinese electric vehicle start-up Xpeng Motors has raised US$400m from investors for New Product Development (NPD) and is planning to bring to market a number of new models in its pipeline. Among Xpeng’s investors are smartphone maker Xiaomi, Alibaba and Foxconn Technology Group.
Wang Tong has joined Xpeng Motors as Vice President, responsible for enhancing the company’s Beijing and Shanghai operations. He joins from Alibaba’s Culture and Entertainment Business Group, where he was VP responsible for public affairs and information security development. Before Alibaba, he was Senior VP for UC Web, responsible for its human resource management, branding, government affairs and corporate culture development. Wang has 20 years of experience in public affairs, government relations and organisational management.
Lv Xueqing has joined Xpeng Motors as Financial Vice President. Based in Xpeng’s Guangzhou office, he will be in charge of the construction, operation and auditing of the company’s financial system. Lv brings nearly 30 years of auto industry experience, having worked as CFO in Yutong Bus, Ford China Region, and JMC. This experience has nurtured his expertise in building financial management frameworks, operational strategy analysis, investment analysis, and credit and risk analysis and control.
November 13 , 2019
XPENG Motors announces US$400 million Series C capital funding
Xpeng Motors today announced the signing of its Series C capital funding of US$400 million from a group of strategic and institutional investors, bringing together an unparalleled combination of corporate and individual investors, as well as renowned private equity firms. The company announced that Xiaomi Corporation, a global leader in the technology and consumer electronics sector, will join as a strategy investor.
Xpeng Motors achieved numerous milestones this year. The company premiered its 2nd production model, the P7 sedan in April, rolled out the 10,000th unit of its first production model the G3 2019 smart SUV in June, and in July it released the enhanced version, the G3 2020 with a 520km NEDC driving range. Also in July, the G3 obtained the highest total score of 92.2% among electric vehicles in the latest China New Car Assessment Program (C-NCAP) safety test.
The company plans to launch the P7 sedan in the spring 2020 and will start delivery in 2Q 2020.
Xiaomi