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maynerd

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maynerd

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Thursday, 08/27/2020 1:15:29 PM

Thursday, August 27, 2020 1:15:29 PM

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Xpeng's IPO marks the latest Chinese Tesla rival to raise capital in the US. Nio made its market debut in September 2018 at a lower-than-expected offering price but has more than doubled as investors bet heavily on the electric-vehicle revolution. Li Auto followed with an IPO on July 30 that raised $1.1 billion.

The latest Chinese-automaker IPO follows the opening of Tesla's factory in Shanghai. The facility aims to boost the company's presence in the country and cater to its growing interest in electric vehicles. Tesla began delivering Model 3 sedans in China in December and has since started producing its Model Y crossover in the new factory.
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