- This round of investment included Aspex, Coatue, Hillhouse Capital and Sequoia Capital China
- The company had secured the license for its self-built fully-owned factory in Zhaoqing, Guangdong Province in May 2020
EV maker Xpeng Motors based in China has announced the signing of its Series C+ financing of around $500 million. This round of investment included Aspex, Coatue, Hillhouse Capital, and Sequoia Capital China.
The company said, “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.”
Series C funding round of $400 million in November 2019
It added that this funding enhances the company’s commitment to serving the large and growing base of technology-savvy middle-class consumers in China. It aims to do so by providing smart EV experiences driven by advanced technology. The company had secured the license for its self-built fully-owned factory in Zhaoqing, Guangdong Province in May 2020. It had announced its Series C funding round of $400 million in November 2019.
Previously, the company has received funding from Alibaba Group, Xiaomi Corporation, and other prominent institutional investors including IDG Capital, Morningside Venture Capital, GGV Capital, and Primavera Capital. The Company’s initial backers include its chairman and chief executive officer, Xiaopeng HE. He also served as the co-founder of UCWeb Inc. and is a former executive of Alibaba Group.
