On March 21, Chinese electric car startup Xiaopeng Motors, also known as XPENG, successfully passed its first batch of production model vehicle (1.0) reviews conducted by the Fangcun branch of Guangzhou Traffic Police Detachment’s vehicle management department, obtaining the first specialized license plate for new energy vehicles.
XPENG announced the start of its B round financing of 2.2 billion yuan in Hong Kong on January 29. The financing was led by Alibaba, Foxconn and IDG. XPENG will raise more than 5 billion yuan from the capital market.
XPeng Motor released its first mass-produced model, the G3, at CES on January 9. The G3 is scheduled to go on sale in the spring of 2018, at which time the company will announce specific configurations and prices.