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Chinese Tesla rival Xpeng Motors files for New York IPO

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Chinese Tesla rival Xpeng Motors files for New York IPO.

XPeng, headquartered in the southern Chinese city of Guangzhou, is 31% controlled by CEO He Xiaopeng, and 14% owned by Alibaba. Among its well-known investors, XPeng is 6% owned by funds associated with IDG, 4% by Morningside-related funds, and 3.8% by GGV funds. Smartphone maker Xiaomi holds a stake, and in July, XPeng raised $900 million from a group of investors including Aspex, Coatue, Hillhouse Capital, Sequoia Capital China, the Qatar Investment Authority, and Mubadala, an Abu Dhabi sovereign wealth fund.

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