Thursday, August 27, 2020 5:08:52 PM
Xpeng Motors – or Xiaopeng Motors – ($XPEV) is a Chinese car manufacturer founded in 2014 that is committed to the development and production of electric cars. What has given the company a lot of attention is the cooperation with Chinese business-2-business giant Alibaba. In a new round of funding in 2018, Alibaba’s Vice President Joseph Tsai joined Xpeng’s corporate board. Since 2018, the company has two production models in the form of a sedan and an SUV, where in 2020 it is doing research for new models.
After the realization of multiple experience & sales centers and delivery & service centers, Xpeng has also established itself in Mountain View, California. Here is the subsidiary XMotors.ai where it received a license to test self-driving cars by the California Department of Motor Vehicles in 2018. The license was revoked in February 2020 because Xpeng had not submitted a withdrawal report. In the meantime, in May 2019, Xpeng launched a car rental company that serves Guangzhou with its own vehicles.
Despite this withdrawal, the company collected two major contributions from investors for nearly $1 billion dollars. In July 2020, Xpeng raised $500 million dollars from Aspex, Coatue, Hillhouse Capital and Sequoia Capital China. Most recently, in August 2020, it received an additional $400 million dollars from the multinational companies Alibaba, Qatar Investment Authority and Mubadala of Abu Dhabi. As a result, Xpeng filed an IPO on the New York Stock Exchange this month following Li Auto.
Canadian company Blackberry – once a smartphone giant before the dominance of Apple and Samsung – has detected the development of Xpeng. As a result, both companies have announced that a collaboration is in the air. Blackberry is busy transitioning to deliver software for connected devices in the car of tomorrow. To do so, it has brought a large part of its activity to China. In August 2020, BlackBerry announced that it will power Xpeng’s Level 3 domain controller. The operating system is called QNX and has to compete with Android and Linux for the services to Chinese electric car manufacturers. The kernel of Xpeng’s domain controller is Nvidia’s Xavier cockpit chip for automated cars, making the majority of the software and hardware based on foreign innovative technology.
Recent XPEV News
- XPENG to Report First Quarter 2024 Financial Results on Tuesday, May 21, 2024 • GlobeNewswire Inc. • 05/07/2024 09:00:25 AM
- XPENG Announces Vehicle Delivery Results for April 2024 • GlobeNewswire Inc. • 05/01/2024 09:00:27 AM
- BHP Bids $38.8 Billion for Anglo American; Biden Unveils Historic Micron Technology Deal, and More News • IH Market News • 04/25/2024 11:48:40 AM
- XPENG to Showcase AI-powered Smart EV innovations at Beijing Auto Show 2024 • GlobeNewswire Inc. • 04/22/2024 04:30:02 AM
- XPENG Publishes 2023 Environmental, Social and Governance Report • GlobeNewswire Inc. • 04/17/2024 10:35:00 AM
- XPENG Files 2023 Annual Report on Form 20-F • GlobeNewswire Inc. • 04/17/2024 10:30:00 AM
- XPENG and the Volkswagen Group Announce Entry into the Framework Agreement on E/E Architecture Technical Collaboration • GlobeNewswire Inc. • 04/17/2024 08:19:01 AM
- XPENG Expands Footprint with Entry Into Hong Kong and Macau • GlobeNewswire Inc. • 04/10/2024 07:11:37 AM
- XPENG Announces Vehicle Delivery Results for March and First Quarter 2024 • GlobeNewswire Inc. • 04/01/2024 09:00:00 AM
- Unilever Initiates Ice Cream Division Spin-Off and Announces Job Cuts; Berkshire Ramps Up Share Buyback Efforts, and More • IH Market News • 03/19/2024 11:33:10 AM
- US Index Futures Decline Ahead of Federal Reserve Meeting, Oil Prices Retreat • IH Market News • 03/19/2024 11:27:29 AM
- XPENG Reports Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results • GlobeNewswire Inc. • 03/19/2024 10:00:00 AM
- Apple & Google in Talks for Gemini AI on iPhone, Nvidia’s GTC Conference Today, and Latest News • IH Market News • 03/18/2024 11:10:46 AM
- XPENG Announces Vehicle Delivery Results for February 2024 • GlobeNewswire Inc. • 03/01/2024 09:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/29/2024 11:04:59 AM
- XPENG and the Volkswagen Group Announce Entry into Master Agreement on Strategic Technical Collaboration and Joint Sourcing Program • GlobeNewswire Inc. • 02/29/2024 12:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/26/2024 09:11:37 PM
- XPENG to Report Fourth Quarter and Fiscal Year 2023 Financial Results on Tuesday, March 19, 2024 • GlobeNewswire Inc. • 02/26/2024 09:00:00 AM
- Barclays Surges with Cost Reductions and Billion-Dollar Shareholder Returns, Capital One Eyes Discover Acquisition, and More • IH Market News • 02/20/2024 10:35:39 AM
- XPENG Announces Vehicle Delivery Results for January 2024 • GlobeNewswire Inc. • 02/01/2024 09:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/31/2024 05:06:51 PM
- Wall Street Highlights: Intel’s Disappointing Quarterly Forecast, PayPal’s New AI Solutions for Merchants, and More • IH Market News • 01/26/2024 01:45:22 PM
- Tesla Price Cuts Send European, Chinese Auto Stocks Lower • Dow Jones News • 01/17/2024 12:51:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/02/2024 09:12:28 PM
- XPENG Launches X9 Ultra Smart Large Seven-seater in China • GlobeNewswire Inc. • 01/01/2024 02:01:49 PM
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