Mexican Media Brands
EV Startup Xpeng Motors Raises Another $350 Million
Chinese electric car startup Guangzhou Xiaopeng Motors Technology Co. (Xpeng Motors) has raised 2.2 billion yuan ($350 million) in its Series B funding round, nearly doubling its total funding to 5 billion yuan ($800 million).
#hybrid
Share
Chinese electric car startup Guangzhou Xiaopeng Motors Technology Co. (Xpeng Motors) has raised 2.2 billion yuan ($350 million) in its Series B funding round, nearly doubling its total funding to 5 billion yuan ($800 million).
The 4-year-old company delivered a special-edition 1.0 model to its chairman, He Xiaopeng, in December. Full production of the G3 midsize crossover/SUV, which was unveiled at last month’s CES electronics show in Las Vegas, is due to start by year-end.
The G3 features a large panoramic windshield similar to that of the Tesla Model X, and 25 sensors—including a roof-mounted 360° camera—to enable unspecified autonomous driving features. The interior is highlighted by a 15.6-inch infotainment screen and a 12.3-inch instrument cluster display.
Xpeng says the crossover will generate 190 hp and have a 300-km (186-mile) driving range. Media reports estimate the vehicle will start at $40,000, which would be about one-third the price of a Model X in China.
Production initially will be outsourced to FAW Group subsidiary Haima Automobile. Xpeng plans to quadruple its workforce from 700 people to 3,000 by the end of next year.
RELATED CONTENT
-
Engineering the 2019 Jeep Cherokee
The Jeep Cherokee, which was launched in its current manifestation as a model year 2014 vehicle, and which has just undergone a major refresh for MY 2019, is nothing if not a solid success.
-
48-volt Hits Production
“In 2025, approximately one in five new vehicles across the world will be equipped with a 48-volt drive,” Juergen Wiesenberger, head of Hybrid Electric Vehicles at Continental North America said last week.
-
Hyundai Shops for a Partner to Make Electric Scooters
Hyundai Motor Co. is looking for a domestic partner to mass-produce the fold-up Ioniq electric scooter it unveiled at last year’s CES show in Las Vegas, a source tells The Korea Herald.