Deals
EV Maker XPeng Has Solid Debut as Clean Cars Grab Investor Fancy
- XPeng topped IPO goals with upsized, above-range share sale
- Vice Chairman sees accelerating, global smart EV market
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Chinese electric-car startup XPeng Inc. nailed its trading debut in the U.S. as cleaner types of vehicles increasingly grab the attention of consumers and investors.
XPeng’s American depositary shares jumped as much as 67% before closing 41% higher after the Guangzhou-based firm raised $1.5 billion in an initial public offering. The company, with a market value of about $15 billion, expanded the size of its offering and priced the securities above a marketed range.