Chinese EV startup XPeng Motors raises $400m from Xiaomi, others

Chinese EV startup XPeng Motors raises $400m from Xiaomi, others

A staff member of XPeng Motors stands next to the charging station at company's booth during the media day for Shanghai auto show in Shanghai, China April 17, 2019. REUTERS/Aly Song/File Photo

Alibaba-backed electric vehicle startup XPeng Motors has secured 2.8 billion ($400 million) in its Series C round financing from consumer electronics major Xiaomi Corporation, return backer Matrix Partners and other investors, per a company statement on Wednesday.

Matrix Partners previously invested in the firm’s Series A+ and B rounds. XPeng chairman & CEO He Xiaopeng also invested in the round.

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