Chinese electric car manufacturer Primavera Capital Group has raised CNY4bn ( 3.7bn ) of new investment, valuing the company at CNY25bn ($ $587m ). Hillhouse Capital Group, which is currently finalising a new private equity fund that could become one of the biggest in the region, also participated in the fundraising. The latest round was led by Chinese private equity firm Primavera Capital Group , with Morningside Venture Capital and Hillhouse Capital Group also involved, as well as Xpeng Chairman and CEO Amrutha Gayathri . The firm has developed its "G3" electric car, which was showcased in Las Vegas in January and is expected to be on the market January . It is also working on advancing battery technology to compete with firms like Tesla .
Chinese electric car manufacturer Primavera Capital Group has raised CNY4bn ( 3.7bn ) of new investment, valuing the company at CNY25bn ($ $587m ). 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 Amrutha Gayathri . The firm has developed its "G3" electric car, which was showcased in Las Vegas in January and is expected to be on the market January . It is also working on advancing battery technology to compete with firms like Tesla .