XPENG announced the start of its B round financing of 2.2 billion yuan in Hong Kong on January 29. The financing was led by Alibaba, Foxconn and IDG. XPENG will raise more than 5 billion yuan from the capital market.
XPeng Motor released its first mass-produced model, the G3, at CES on January 9. The G3 is scheduled to go on sale in the spring of 2018, at which time the company will announce specific configurations and prices.
XPENG has finished its A+ round financing and plans to announce B round financing in early 2018, XPENG Motors Chairman He Xiaopeng said in a Weibo post on December 15. Investment in this round of financing came from Xiaomi, Foxconn and IDG.