Xpeng Motors continues its strategic growth this week with the signing of a Series C capital funding round of $400 million from a group of strategic and institutional investors. At the same time, Xpeng announced that Xiaomi Corporation is joining as a strategic investor.
While the Xpeng G3 electric vehicle (EV) continues its stellar sales climb, the stunning P7 EV has finished a round of tests equal to traveling 10 times around the globe. The company also secured a charging network and ecosystem partnership with TELD, China’s largest charging infrastructure. Additionally, the P7 is the first Smart Car with its own Alibaba In-Car Mini app, and pioneers an IFAA-standard Virtual Car Key. Not bad for a three-year young startup working on a Chinese schedule.
Xpeng is continuing its steady progression in China while it handles its first crisis of sorts. While the press and Xpeng’s clientele have been positive with the newly upgraded G3, some of the previous G3 buyers have expressed concerns. Xpeng listened and quickly worked out a sweet deal for those who bought an Xpeng G3 beforehand.
