Electric vehicle maker XPeng launches $1.1bn US IPO

Car park_575px_adobe_21Jul20
By Jonathan Breen
24 Aug 2020

Chinese electric vehicle manufacturer XPeng has hit the road with its $1.1bn New York Stock Exchange IPO. It is the latest in a building pipeline of US listings by Mainland-based companies that are undeterred by rising tensions between the two countries.

XPeng, also known as Xiaopeng Motors, is backed by heavyweight investors including Alibaba Group Holding and Xiaomi Corp. 

The firm has set off with its deal less than a month after competitor Li Auto Holdings raised $1.1bn on the Nasdaq. The Meituan Dianping-backed company floated in late July ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial