Chinese electric vehicle manufacturer Xpeng Motors has raised an additional $100 million ahead of its US IPO listing after Abu Dhabi’s sovereign wealth fund, Mubadala, came on board, bringing Xpeng’s total funding to $400 million, CNBC reported, citing sources with knowledge of the matter.
According to CNBC, the current funds are additional funds of $500 million in the C+ round raised last month.
Sources who disclosed to CNBC added that this round of financing is almost complete. Pandaily sought confirmation from Xpeng but the company was not immediately available for comment.
Pandaily reported on Aug. 3 that Xpeng raised approximately $300 million in financing with investors Alibaba and Qatar’s sovereign wealth fund.
If the $400 million investment proceeds, Xpeng will have raised a total of approximately $900 million after two rounds of C+ and C++ financing in less than two weeks.