Xpeng Motors announces US$500mn Series C+ financing with Aspex, Coatue, Hillhouse, Sequoia Capital China as investors
Xpeng Motors (the “Company”), a leading smart electric vehicle (“Smart EV”) company in China, today announced the signing of its Series C+ financing of around US$500 million with a group of investors including Aspex, Coatue, Hillhouse and Sequoia Capital China.
(Xpeng P7, photo source: Xpeng Motors)
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 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.
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