Recently, we learned from the National Enterprise Information Publicity System that the registered capital of Guangdong Xpeng Motors Technology Co., Ltd. changed on August 13, 2020. The information shows that the company’s registered capital increased from 6 billion yuan to 15 billion yuan, an increase of 150%.
Guangdong Xpeng Motor Technology Co., Ltd. was established on June 21, 2019. The legal representative is Xia Heng. The company’s business scope includes technical research and development of vehicle engineering; retail of electrical equipment; manufacturing of electronic components and components; retail of electronic components; Software retail; software services; software testing services; information technology consulting services; information electronic technology services; software product development, production, etc. It is worth mentioning that the company is a wholly-owned subsidiary of XPeng (Hong Kong) Limited.
In fact, Xpeng Motors announced on July 20 that it has completed nearly US$500 million (about 3.5 billion yuan) in C+ round financing with investors such as Aspex, Coatue, Hillhouse Capital, and Sequoia China. Xpeng Motors’ last C round of financing was in November 2019, with an amount of US$400 million. Xpeng Motors’ Chairman and CEO He Xiaopeng once again supported the A and B rounds. Xiaomi Group as a new strategic investment partner introduced by Xpeng Motors, it has also attracted a lot of attention. After a lapse of 8 months, Xpeng completed the financing again, reflecting the investment market’s optimistic view of Xiaopeng’s prospects.
In the early morning of August 8th, Beijing time, Xpeng Motors formally submitted IPO documents to the SEC, intending to be listed on the New York Stock Exchange under the stock code “XPEV”. The underwriters include Bank of America Securities, Credit Suisse, JPMorgan Chase, etc. After being listed on the market, Xpeng Motors will become the third Chiense EV startup to be listed in the United States.