- Xpeng is the third Chinese electric vehicle startup to go public in New York after Nio's (NIO) $1 billion IPO two years ago and Li Auto's (LI) recent $1.1 billion IPO.
- Electric car stocks have benefited both from Tesla's surge this year and as governments and automakers promote emissionless technology.
- Major investors: Alibaba Group (BABA), Coatue, and Qatar Investment Authority.
Xpeng displays its mass-market Mona M03 coupe inside a headquarters’ showroom in Guangzhou, China, on Aug. 26, 2024.
G3 SUV
P7 sedan
An IPO filing describes the company as producing two premium electric vehicles, the G3 SUV and the four-door P7 sports sedan. P7, which launched at the end of June, is a rival to the Tesla Model 3 in China. A third model is expected in 2021.
Xpeng also offers an optional autonomous driving system. It targets the mid- to high-end China electric car market, as do Chinese rivals Li Auto and Nio.
Founded in 2015, Xpeng is unprofitable and revenue dived 19% in the first half of 2020 as the coronavirus pandemic hit sales.
Xpeng also offers an optional autonomous driving system. It targets the mid- to high-end China electric car market, as do Chinese rivals Li Auto and Nio.
Founded in 2015, Xpeng is unprofitable and revenue dived 19% in the first half of 2020 as the coronavirus pandemic hit sales.
He Xiaopeng, born in 1977, the founder of Xpeng Motors.
Previously, he developed the Chinese web browser UC Browser and sold it to Alibaba in 2014.
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