Chinese language electrical automobile producer Xpeng Motors has raised an extra $100 million forward of its US IPO itemizing after Abu Dhabi’s sovereign wealth fund, Mubadala, got here on board, bringing Xpeng’s complete funding to $400 million, CNBC reported, citing sources with information of the matter.
In line with CNBC, the present funds are extra funds of $500 million within the C+ spherical raised final month.
Sources who disclosed to CNBC added that this spherical of financing is nearly full. Pandaily sought affirmation from Xpeng however the firm was not instantly obtainable for remark.
Pandaily reported on Aug. 3 that Xpeng raised roughly $300 million in financing with traders Alibaba and Qatar’s sovereign wealth fund.
If the $400 million funding proceeds, Xpeng can have raised a complete of roughly $900 million after two rounds of C+ and C++ financing in lower than two weeks.