Chinese electric car manufacturer Xpeng Motors has raised USD ( $ 587 m ) of new investment , valuing the company at USD ( $ 3.7bn ) . The latest round was led by Chinese private equity firm Primavera Capital Group , with Morningside Venture Capital and Phoenix Capital Group also involved , as well as Xpeng Chairman and CEO Wang He . The firm has developed its " G3 " electric car , which was showcased in Las Vegas in January and is expected to be on the market this year . It is also working on advancing its technology to compete with manufacturers like Tesla .
Chinese electric car manufacturer Xpeng Motors has raised CNY4bn ($587m) of new investment, valuing the company at CNY25bn ($3.7bn). The latest round was led by Chinese private equity firm Primavera Capital Group, with Morningside Venture Capital and Hillhouse Capital Group also involved, as well as Xpeng Chairman and CEO Xiaopeng He. The firm has developed its "G3" electric car, which was showcased in Las Vegas in January and is expected to be on the market this year. It is also working on advancing battery technology to compete with firms like Tesla.