Electric-Car Maker Xpeng Raises $400 Million From Xiaomi, Others
- Chinese startup emerging as a serious contender in EV market
- Company says it also secured billions of yuan in credit lines
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Chinese electric-car maker Xpeng Motors Technology Ltd. has raised $400 million from investors including technology company Xiaomi Corp., as it seeks a spot among China’s more serious contenders in the market.
Private-equity firms and individual investors including founder He Xiaopeng also took part in the funding round, the company said Wednesday in a statement.