
With a new electric sedan, Nio seems to take on Tesla that has just started selling its Model Y vehicles from its Shanghai factory. However, Nio itself says their main rivals are BMW’s X3 and Audi’s Q5 sports utility vehicles.
Xiaopeng Motors is an electric vehicle and technology company that designs and manufactures smart cars.
Headquartered in Guangzhou, Xpeng Motors is a leading Chinese electric vehicle and technology company that designs and manufactures automobiles that are seamlessly integrated with advanced Internet, AI and autonomous driving technologies. Xpeng is committed to in-house R&D and intelligent manufacturing to create a better mobility experience for the customers.
With a new electric sedan, Nio seems to take on Tesla that has just started selling its Model Y vehicles from its Shanghai factory. However, Nio itself says their main rivals are BMW’s X3 and Audi’s Q5 sports utility vehicles.
Xpeng Motors, a Chinese electric car manufacturer reportedly raised $400 million ahead of an initial public offering (IPO) in the United States adding onto $500 million that it raised in July.
Xpeng Motors is said to be going to raise over $300 million in new funding, ahead of its U.S. IPO listing.