China startup may be valued at $4 bn without single car sale
China-based electric carmaking startup Xpeng Motors is reportedly raising over $600 million which will value the startup close to $4 billion without selling a single car. The electric cars are expected to have voice controls, streaming music, live video, driver-tracking maps and other software. The startup is backed by Alibaba Group, Foxconn Technology, and Xiaomi Founder Lei Jun. 