On July 20, IIA learned from Xpeng that the Chinese EV maker announced the completion of the signing of a C+ round of financing involving well-known investment institutions such as Aspex, Coatue, Hillhouse Capital, and Sequoia Capital, with a financing amount of nearly USD 500 million.

The signing of this C+ round of financing fully reflects investors' confidence in Xpeng's strategy, market positioning, and long-term vision as a leader in China's smart electric vehicles. Since its inception, Xpeng has always been committed to manufacturing smart electric vehicles through advanced self-developed technologies, and providing smart electric vehicle experiences for China's fast-growing and technologically large mid-end consumers. The signing of the C+ round of financing further strengthened Xpeng's long-term positioning.

Xpeng launched its second smart coupe Xpeng P7 in April this year, and Xpeng Zhaoqing Smart Factory, which has its own production capacity, and obtained the production qualification in May this year. Prior to this, Xpeng also received USD 400 million in Series C financing in November 2019.