Alibaba, Foxconn lead $350mn funding in electric car startup
China's Alibaba and Foxconn Technology have led a $347.74 million funding round in Chinese electric car maker Xiaopeng Motors. Other investors in the round include IDG Capital and previous investors GGV Capital, Morningside Venture Capital and Matrix Partners. The latest investment brings the startup's total funding to $790 million, it said in a statement.