8/5, 11:30 AM (Source: TeleTrader)
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Chinese EV maker Xpeng raises another $400M ahead of IPO

Chinese electric carmaker Xpeng Motors has raised another $400 million ahead of its initial public offering (IPO) in the United States, CNBC reported on Wednesday citing sources familiar with the matter.

Investors who took part in the $400 million tranche include Alibaba, sovereign wealth fund Qatar Investment Authority, Abu Dhabi’s sovereign wealth fund Mubadala.

Last month, Xpeng raised $500 million after reportedly confidentially filing for a US IPO. According to reports, the carmaker is yet to decide which exchange it will list on.

Breaking the News / NP