Entering text into the input field will update the search result below

Chinese luxury EV maker Xpeng files for an IPO, boosting prospects for Tesla competition

Aug. 10, 2020 1:36 AM ETXPeng Inc. (XPEV) StockTSLA, NKLA, NIO, XPEVBy: Gaurav Batavia, SA News Editor22 Comments
  • Chinese electric vehicle manufacturer Xpeng (XPEV), backed by Alibaba Group Holding, has filed for an IPO on NYSE for 429.84M class B ordinary shares. However, the company did not clarify on the number of class A ordinary shares.
  • Xpeng raised $900M in the two tranche with $500M in July and $400M just ahead of IPO from Alibaba, one of its biggest shareholders, the Qatar Investment Authority and Abu Dhabi sovereign wealth fund Mubadala.
  • The company has two cars in the market the G3 SUV and the P7 sedan. The top of the line G3 for 2020 is priced below $30,000 in China after subsidies -- allowing it to compete with the likes of Tesla (NASDAQ:TSLA) and Nio (NYSE:NIO).
  • G3 delivered till 18,741 units and P7 delivered 1,966 units as on July 31. The company plans to launch third Smart EV, a sedan, in 2021.
  • The company reported 1H revenue of $141.9M (-18% Y/Y) and EPS of -$0.81.
  • Other players in the market: Li Auto, Nio, Tesla, WM Motor.

Recommended For You

About XPEV Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
XPEV--
XPeng Inc.