Xpeng Motors Xpeng Inc. (NYSE: XPEV) was founded in 2014 and is headquartered in Guangzhou, Guangdong Province, China. It has 3,676 full-time employees. It is China’s leading smart electric vehicle design and manufacturer, and it is also a leading Internet and artificial intelligence innovation. Technology companies whose models are characterized by supporting Level 3 autonomous driving technology and Internet applications (such as in-car software can be updated via OTA).
Xiaopeng Automobile Xpeng Inc. (XPEV):
In 2015, Xia Heng, who graduated from the Department of Automotive Engineering of Tsinghua University, co-founded Xiaopeng Motors with He Tao and others. Before founding Xiaopeng Motors, the two were the head of GAC’s new energy control system development and the head of GAC’s smart cars and autonomous driving.
He Xiaopeng, co-founder of UC Youshi and former president of Alibaba’s mobile business group, officially joined Xiaopeng Motors in August 2017. In March 2018, Dr. Gu Hongdi, chairman of J.P. Morgan’s Asia Pacific investment bank, joined Xiaopeng Motors. The differentiated management team from the Internet, automobile manufacturing and strategic financing has shaped the unique DNA of Xiaopeng Motors.
In June 2019, declared the official car Xiaopeng: the company added three new executives – are former vice president of Alibaba Group, culture and entertainment, Wang Tong, senior vice president of UC excellent, as science and technology, the former chief financial officer Zhengzhou Yutong Bus, Ford large Lv Xueqing, CFO of China Region and CFO of Jiangling Motors, and Benny Katibian , former Vice President of Engineering of Qualcomm .
Since its establishment five years ago, Xiaopeng Motors has completed its global layout. The company’s R&D headquarters is located in Guangzhou, and it has established design, R&D, manufacturing and marketing institutions in Beijing, Shanghai, Guangzhou, Silicon Valley, San Diego, Guangdong Zhaoqing and Zhengzhou. A large-scale, diversified and self-researched cross-border team has been formed. As of June 30, 2020, the company has 3676 employees, and R&D related personnel account for 43%. The core team of Xiaopeng Motors comes from benchmark companies in different industries such as Mercedes-Benz , GAC, Alibaba, Tencent , JPMorgan Chase, Huawei , and Xiaomi.
Xiaopeng Motors is committed to driving the transformation of smart electric vehicles through data and leading the way in the future. Xiaopeng Automobile believes that new energy vehicles are not equal to the next automobile era. Smart cars (AI + Internet + cars) are the new track in the next automobile era. The Internet gene intelligent electric vehicle driven by the “dual engine” composed of digitization and electrification is the biggest differentiated feature of Xiaopeng’s products.
The Chinese electric vehicle company jointly invested by Alibaba and Xiaomi, also known as China’s Tesla , is also a competitor to NIO and Ideal Auto .
Xiaopeng Automobile Xpeng Inc. (XPEV):
- On October 12, 2017, the Identity X, which Haima Automobile OEM for Xiaopeng Automobile, rolled off the production line at Haima Automobile’s Henan Zhengzhou plant.
- In December 2017, Xiaopeng Motors received investment from companies such as Alibaba Group, Hon Hai Technology Group (Foxconn), IDG Capital and other companies. Among them, Alibaba’s companies invested about 10% in Xiaopeng Motors. Alibaba Group Vice Chairman Cai Chongxin also Joined the board of directors of Xiaopeng Motors.
- In January 2018, Xiaopeng Motors exhibited the G3 sports utility vehicle based on Identity X at the Consumer Electronics Show in the United States, and it was launched in December of the same year.
- In June 2018, Xiaopeng Motors officially started construction of its factory in Zhaoqing High-tech Zone, Guangdong, and is expected to start trial production in 2019.
- On April 15, 2019, Xiaopeng Motors released the P7 coupe at the Shanghai Auto Show, which is expected to be launched in mid-2020.
- In May 2019, Xiaopeng Motors opened an online car-hailing service under the name of Guangzhou Yidian Smart Mobility Technology Co., Ltd.-Youpeng Travel, which first provided services in some areas of the urban area of Guangzhou, and expanded its operation scope to Guangzhou in July of the same year Citywide. Xiaopeng Motors said that it will introduce about 2,000 online car-hailing vehicles to the Guangzhou market in 2019.
- In June 2019, the 10,000th G3 went offline.
- On November 13, 2019, Xiaopeng Motors completed the Series C financing. Xiaomi became a strategic investment partner of Xiaopeng Motors. The founder of Xiaomi, Lei Jun, was also one of the angel investors of Xiaopeng Motors.
- In March 2020, Xiaopeng Automobile acquired Guangdong Fudi Automobile Co., Ltd.
Xiaopeng Automobile Xpeng Inc. (XPEV) financing:
- On March 1, 2016, in Series A financing, Xiaopeng Motors received an exclusive investment of US$40 million from GWC Innovator Fund.
- On June 12, 2017, Xiaopeng Motors received an exclusive investment of RMB 2.2 billion from UCAR.
- On December 15, 2017, Xiaopeng Motors received investment from Alibaba Group, GGV Capital, Matrix Partners China, IDG Capital, Shunwei Capital (Shunwei Capital), Lightspeed Venture Partners and other 6 institutions with investment.
- On January 18, 2018, in Series B financing, Xiaopeng Motors received RMB 2.2 billion in funding from Alibaba Group, Foxconn Technology Group, IDG Capital, and 6 institutions including GGV Capital, Matrix Partners China and Morningside Venture Capital.
- On August 2, 2018, in the B+ round of financing, Xiaopeng Motors received a lead investment from Primavera Capital Group, and 5 institutions including Hillhouse Capital Group, Morningside Venture Capital, Eastern Bell Capital, and K11 Investment participated in a 4 billion yuan investment.
- On November 12, 2019, in the C round of financing, Xiaopeng Motors received a lead investment from Xiaomi, followed by GGV Capital, Morningside Venture Capital and individual investor Xiaopeng He.
- On July 20, 2020, in the C+ round of financing, Xiaopeng Motors received a joint investment of US$500 million from Sequoia Capital China, Hillhouse Capital Group, Coatue Management and Aspex Management.
- On August 3, 2020, in the C++ round of financing, Xiaopeng Motors won the lead investment of Alibaba Group and Qatar Investment Authority (Qatar Investment Authority), and Mubadala Investment Company (Abu Dhabi Venture Capital) followed up with a US$400 million investment.
Before the listing, Xiaopeng Motors had received a total of US$2.6 billion in investment.
Xpeng Automobile Xpeng Inc. (XPEV) investment:
Xpeng Motors Xpeng Inc. (NYSE: XPEV) was listed on NASDAQ on 8/27/2020 IPO. The planned issue price is $11.00-$13.00, the actual issue price is US$15, 85 million shares are issued, and 1.275 billion US dollars are raised, Credit Suisse/ JP Morgan/ BofA Securities underwriting, ABCI/ BOC International/ Futu / Haitong International/ Tiger Brokers joint.