Chinese Tesla rival Xpeng Motors gets $76 million investment from government

  • 📰 CNBC
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Since its $1.5 billion U.S. initial public offering last year, Xpeng Motors has raised money to fuel growth and battle against domestic rivals as well as Tesla.

Xpeng Motors has received 500 million yuan funding from Guangdong Yuecai Investment Holdings Co., the Chinese province's investment arm.

Since its $1.5 billion U.S. initial public offering in August, Xpeng has continued to raise money to fuel its growth, ramp up production and battle against domestic rivals as well as Tesla The 500 million yuan funding from Guangdong Yuecai Investment Holdings Co., the province's investment arm, will be used to "accelerate the company's business expansion," Xpeng said in a statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

looks just like a tesla. where was it made?

What's wrong government to invest in green technologies? China promised in Paris to reduce the carbon emissions.

Probably stole tech from Tesla.

Or in other words the Chinese government vs the US green tech sector

Thummala rajesham PayPal please poor healp

THATS THE ONLYWAY

Not Tesla rival. All EV makers are taking market share from the classic car market. 👍

Of course they do hello - it’s China 🇨🇳

The Chinese gov. Love the stonk 😅

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines