(Bloomberg) — Electric-vehicle maker Xpeng Motors Technology Ltd. raised about $500 million from a group of venture investors, showing Chinese startups with promising car models can attract funding even as the industry’s sales slump.Investors in the Series C+ financing round include Sequoia Capital China, Hillhouse Capital, Coatue Management and Aspex, Xpeng said Monday in a statement. The fundraising follows a $400 million round in November.Xpeng is increasing its chances of staying as a viable contender in the world’s largest electric-car market, where it competes with sales leader Tesla Inc., local peers such as NIO Inc. and such global rivals as …read more
Source:: Yahoo Finance
