XPeng Motors Valued at Over $8.4 Billion Files for U.S. IPO, the Company is Backed by Alibaba and XiaomiAug 26, 2020 8:30 PM WST
As existing shareholders continue to increase investments in EVs and related technologies, new participants are optimistic about China's growing electric vehicle market. As a result, electric vehicle startup XPeng Motors has strong financial backing and stamina for future development. The company has cash reserves of 8.2 billion yuan (US$1.19 billion), and is ramping up its investment in R&D.
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