Alibaba hikes stake in Xpeng before EV maker's IPO

Xpeng Motors Technology's G3 electric crossover on display at the Guangzhou auto show in November 2018. (BLOOMBERG)

By:

Reuters

August 03, 2020 11:43 AM

Chinese electric-vehicle startup Xpeng Motors is raising more funds from Alibaba Group Holding and other investors ahead of its planned initial public offering in New York, according to people familiar with the matter.

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