By on August 27, 2020

Chinese electric vehicle manufacturer Xpeng announced Thursday a decision to increase the size of its U.S initial public offering (IPO) by more than a third after realizing Wall Street can swallow anything so long as it promises a greener tomorrow.

Co-founded in 2014 by two former executives from China’s GAC Group, the EV startup has already managed to produce around 20,000 vehicles for the Asian market. It also became engaged in an intellectual property dispute with Tesla (which claimed Xpeng stole its Autopilot source code) in 2019 and ran afoul with California’s Department of Motor Vehicles after failing to submit disengagement reports on its self-driving test vehicles in 2018.

Such hurdles don’t seem to have slowed the company’s rise to prominence, however. Xpeng is adept at fundraising, amassing well over a billion dollars through strategic partnerships in just the last two years. Meanwhile, the adjusted IPO filed on the New York Stock Exchange this August now targets a cool $1.5 billion USD. (Read More…)

Recent Comments

  • stuki: “You get a lot for your money” It depends how you look at it. Compared to much of...
  • stuki: Nice! And now: On to longitudinal engines and a rear drive bias……. Not that it’s strictly...
  • SCE to AUX: For the Mazda fans: If Mazdas are better than Honda, Toyota, and H/K for the same price, why have they...
  • mcs: ” live in a hilly snowy place and yes awd makes a huge difference,” I’m in the same situation....
  • NormSV650: Still falls short of the Accord when they share the sane 2.0T and again with single turbo v6 in the...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Mark Baruth
  • Ronnie Schreiber