Xiaomi invests in EV startup, XPeng — raises $400 million in funding for growth

XPeng is now valued at $4 billion.


Syamil Faisal

14 Nov, 2019

Xiaomi invests in EV startup, XPeng — raises $400 million in funding for growth | BEAMSTART News

- From our Sponsors -

The Chinese electric vehicle manufacturer, XPeng bagged a $400 million investment from its latest funding round — among the investors is Xiaomi.

The 42-year-old entrepreneur, He Xiaopeng led the fund round — catapulting XPeng valuation from $3.57 billion from the previous round to $4 billion.

XPeng will use the fund for research and development of autonomous driving-related software, mass production of its G3 sport-utility vehicle model and P7 sedan, branding and expanding its retail network.

For only the first nine months of this year, it has sold 13,000 vehicles — putting it in the same global competitive space with Tesla speeding up battery-powered technology development.

"The signing of the new fundraising, which not only attracted new strategic investors such as Xiaomi Corporation but also received strong support from many of our current shareholders, is a renewed endorsement of our long-term strategy.”, mentioned XPeng's CEO, He.

- From our Sponsors -

Latest Jobs

Chief Executive Officer

Healthuno Healthcare India

Chennai, India (इंडिया)

Full Time

Salary Undisclosed

React Native Developer

SegWitz Sdn. Bhd.

Bandar Puteri Puchong, Malaysia

Full Time

MYR 4000 monthly

Affiliate Marketing Manager

Binance

Singapore

Full Time

SGD 2000 — SGD 2500 monthly

Senior Analyst, Product

Carsome

Petaling Jaya, Singapore

Full Time

Salary Undisclosed

Strategy and Growth Lead

Pluang

Jakarta, Indonesia

Full Time

Salary Undisclosed

3D Creative Designer

Nervape

Singapore , Singapore

Full Time

USD 4000 — USD 7000 monthly

Business Development Manager

Tourplus

Kuala Lumpur, Malaysia

Full Time

MYR 10000 — MYR 30000 monthly

Business Development Intern

BEAMSTART

Damansara Uptown, Malaysia

Internship

MYR 400 — MYR 500 monthly

HR Consultant/Recruiter

Fortune Cookie Wisdom Pte Ltd

Remote, Singapore

Contract / Freelance

Salary Undisclosed

Business Development Manager

Lumirous

Kuala Lumpur, Malaysia

Full Time

Salary Undisclosed

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest news, events, and opportunities.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).