Xpeng Raises $400 Million In Series C Capital Funding Round

Electric Cars

Xpeng Motors draws in new traders and seems into the long term with optimism

Xpeng Motors, one particular of the handful of most properly-acknowledged all-electrical Chinese start out-ups this thirty day period secured $400 million Collection C cash funding, which is fairly an accomplishment looking at the tough cases in the automotive market place (also in New Vitality Automobile section) at the instant.

The team of strategic and institutional traders was joined by Xiaomi Company, greatest-acknowledged for smartphones/buyer electronics, which delivers assurance in long term expansion.

“In addition to the newest fairness elevating, Xpeng Motors has also effectively diversified its funding resources by securing various billions of RMB-denominated credit history strains from primary Chinese and worldwide financial institutions which include China Retailers Financial institution, China CITIC Financial institution and HSBC, a highly effective testomony to the corporation&#x2019s sound small business product and its extended-phrase expansion prospective buyers.”

Xpeng Motors now features a solitary product, the Xpeng G3 all-electrical SUV, even though the new Xpeng P7 coupe is coming in Spring 2020.

Mr. He Xiaopeng, Chairman and CEO of Xpeng Motors, who also participated in the Collection C spherical mentioned:

&#x201CThe signing of the new fundraising, which not only captivated new strategic traders these types of as Xiaomi Company but also obtained powerful assist from quite a few of our latest shareholders, is a renewed endorsement of our extended-phrase approach, execution ability and prudent small business product,&#x201D

Mr. Lei Jun, CEO of Xiaomi Company, commented on the strategic expense that:

&#x201CXiaomi Company and Xpeng Motors have accomplished considerable development by in-depth collaboration in creating systems connecting wise telephones and wise autos. We imagine that this strategic expense will more deepen our partnership with Xpeng in advancing innovation for smart components and the World wide web of Factors.&#x201D

Let us get a appear at how Xpeng assessments its future P7 product right before start:

Conceal push launchPresent push launch

XPENG Motors announces US$400 million Collection C cash funding

fromXPENG Motors2019/11/14

(Nov 13th, 2019, Guangzhou) – Xpeng Motors now declared the signing of its Collection C cash funding of US$400 million from&#xA0a&#xA0group of strategic and institutional traders, bringing alongside one another an unparalleled mixture of company and person traders, as properly as renowned personal fairness companies. The corporation declared that Xiaomi Company, a world chief in the technological know-how and buyer electronics sector, will be part of as a approach trader.

&#x201CThe signing of the new fundraising, which not only captivated new strategic traders these types of as Xiaomi Company but also obtained powerful assist from quite a few of our latest shareholders, is a renewed endorsement of our extended-phrase approach, execution ability and prudent small business product,&#x201D mentioned Mr. He Xiaopeng, Chairman and CEO of Xpeng Motors, who&#xA0also participated in the Collection C spherical.&#xA0

Mr. Lei Jun, CEO of Xiaomi Company, commented on the strategic expense that: &#x201CXiaomi Company and Xpeng Motors have accomplished considerable development by in-depth collaboration in creating systems connecting wise telephones and wise autos. We imagine that this strategic expense will more deepen our partnership with Xpeng in advancing innovation for smart components and the World wide web of Factors.&#x201D

&#x201CWe are a powerful believer that wise mobility and autonomous driving are likely to renovate our each day life, and&#xA0we share the exact same eyesight with Xiaomi that technological know-how innovation is the vital driver in reshaping our long term transportation. Xiaomi&#x2019s expertise and perception in buyer conduct, technological know-how knowhow and market place traits can include great price to what Xpeng Motors is established to attain,&#x201D mentioned Mr. He Xiaopeng.&#xA0&#xA0

&#x201C2019 has been an eventful 12 months dominated by financial headwinds, uncertainties in the world marketplaces and authorities coverage adjustments that have experienced immediate influence on all round vehicle profits in China. Nevertheless, we had been equipped to achieve most of our small business and funding targets, irrespective of the challenging conditions. We have shown to our shareholders our means to maintain our small business in the experience of these tough circumstances,&#x201D extra Mr. Brian Gu, Vice Chairman and President of Xpeng&#xA0Motors.

In addition to the newest fairness elevating, Xpeng Motors has also effectively diversified its funding resources by securing various billions of RMB-denominated credit history strains from primary Chinese and worldwide financial institutions which include China Retailers Financial institution, China CITIC Financial institution and HSBC, a highly effective testomony to the corporation&#x2019s sound small business product and its extended-phrase expansion prospective buyers.

Xpeng Motors accomplished various milestones this 12 months. The corporation premiered its 2nd generation product, the P7 sedan in April, rolled out the 10,000th device of its very first generation product the G3 2019 wise SUV in June, and in July it launched the improved edition, the G3 2020 with a 520km NEDC driving selection. Also in July, the G3 attained the best whole rating of 92.two% between electrical automobiles in the newest China New Motor vehicle Evaluation Application (C-NCAP) basic safety take a look at.

The corporation options to start the P7 sedan in the spring 2020 and will start out shipping in 2Q 2020.&#xA0&#xA0

&#x201CWe are dedicated to investing in the progress of main in-household systems,&#xA0smart production, and profits and company abilities. With the powerful assist from our shareholders, shoppers and small business associates, we are quite assured that we can surmount the tough ecosystem and attain our extended-phrase aims,&#x201D Mr. He concluded.&#xA0

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