Xpeng's is raising capital ahead of an IPO in the U.S. The Chinese automaker Xpeng aims to raise $1.5 billion in an initial public offering on the New York Stock Exchange, the company said on Thursday. Competition in the sector is fierce with local players like NIO and BYD Co. vying for attention with international brands. Earlier, the Guangzhou-based company sold 99.7 million American depositary shares at 15 a share, raising nearly $1.5 billion. A third model is expected in 2021. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Find Aparna Narayanan on Twitter at @IBDANarayanan. Xpeng's shares are expected to begin trading on Thursday, and the offering is set to close on Monday. The electric-car company was founded in 2014, and Xpeng stock went public last month in a $1.5 billion IPO. It has confidentially filed for a listing on Wall Street, but has not decided what exchange to list on, sources previously said. Shares of Tesla Inc. and NIO Inc. have surged while Chinese EV manufacturers Li Auto Inc. and XPeng Inc. have had successful U.S. stock market debuts. Stock quotes by finanzen.net. It didn’t provide more details. China has spawned lots of electric car makers, thanks to favorable policies such as state subsidies. Nio last week reported more than doubling August sales year over year, while Li Auto increased August sales vs. July after kicking off production in November 2019. Hear David Barse share his thoughts on a unique investment strategy—identify the losers first. The company's IPO would follow other Chinese electric carmakers — Nio and Li Auto — which have already listed in the U.S. and whose share prices have risen sharply recently. Meanwhile, Tesla is over 237% higher year-to-date. While some have collapsed, a handful including Xpeng, Nio and Li Auto, are pushing forward to get a slice of the world's largest electric car market. Along with rivals Qingdao TGood Electric Co. and State Grid Corp. of China, StarCharge provides a range of charging solutions for EVs, from large petrol station-like centers to smaller ones meant for residential use. Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content. Now read more markets coverage from Markets Insider and Business Insider: Tesla will surge another 19% from current levels on Battery Day hopes, says new biggest Wall Street bull, Virus resurgence in the fall could prompt double-dip recession, Kansas City Fed president says, Hundreds of flips and dozens of rentals: Here are the 4 real-estate investing strategies HGTV veteran Chris Naugle is leveraging to make sure every deal is a winner, Registration on or use of this site constitutes acceptance of our, Visit the Business Insider homepage for more stories, MORGAN STANLEY: Buy these 12 stocks underappreciated stocks that offer strong profit growth and are due for a surge, Chris Mayer wrote the book on how to make 100 times your money with a single stock. Got a confidential news tip? Xpeng is the third Chinese electric vehicle startup to go public in New York after Nio's $1 billion IPO two years ago and Li Auto's recent $1.1 billion IPO. 11:55 AM ET Which financial companies are the most trusted according to investors? Commerce Policy | Xpeng is the third Chinese electric vehicle startup to go public in New York after Nio's (NIO) $1 billion IPO two years ago and Li Auto's (LI) recent $1.1 billion IPO. Futures: As the market rally awaits a stimulus deal, Tesla... Today's Biden vs. Trump poll finds support for President Donald Trump hitting a new high since the Oct. 12 poll launch, just below his 2016 vote share. Electric-vehicle makers have been enjoying a surge in investor interest after strong share price gains this year in Tesla Inc. and NIO Inc. Li Auto, which increased the size of its IPO, has since climbed 61%, more than tripling its valuation prior to the listing. Shares fell 6.75% to close at 17.75 on the stock market today. The Qatar Investment Authority put in $100 million while Abu Dhabi’s Mubadala invested another $100 million, the company said in the prospectus. Chinese electric-vehicle charging equipment provider StarCharge plans to start the process for an initial public offering, just weeks after completing a Series A fundraising round. Chinese electric-car startup Xpeng Motors has filed for a U.S. initial public offering, right behind rival Li Auto Inc. which raised $1.1 billion last month. Our big webinar sale is here: Get 2 months of IBD Digital for $12 or get 2 weeks of IBD Live free! Click here to find out! Read about potential market outcomes post-cure. The electric-car company was founded in 2014, and Xpeng stock went public last month in a $1.5 billion IPO. P7, which launched at the end of June, is a rival to the Tesla Model 3 in China. It started deliveries of its second model, the P7 sedan, in May, shipping 1,966 units by July 31, according to its filing. After years of developing cars and trying to boost their profiles globally, Chinese EV makers are now taking steps to go public as the virus pandemic and economic slowdown squeeze the market, boosting competition. Data is a real-time snapshot *Data is delayed at least 15 minutes. XPeng delivered 5,185 units of its first vehicle, the G3 SUV, in the first half of 2020. Ownership data provided by Refinitiv and Estimates data provided by FactSet. The facility aims to boost the company's presence in the country and cater to its growing interest in electric vehicles. Ownership data provided by Refinitiv and Estimates data provided by FactSet. Geely itself has a fully electric car as well as plug-in electric hybrid vehicles in its lineup. The automaker will trade under the ticker XPEV. Before it's here, it's on the Bloomberg Terminal. Alibaba (BABA) more than quintupled its stake in Chinese electric-vehicle maker Xpeng (XPEV) as the recovery in China car sales accelerated in August. The information and content are subject to change without notice. Chinese electric car maker Xpeng Motors has raised $400 million, two sources familiar with the matter told CNBC. Futures Rise Modestly; Tesla, Align Among Key Earnings Movers, Nio last week reported more than doubling August sales, Tesla Beats With 5th Straight Quarter Of Profits; Musk Sees Production Improvements, Dow Drops 100 Points As Stocks Sell Off Late; Tesla Cruises After Hours, Nikola Stock Jumps As GM Backs Electric Truck Deal While Talks Continue, GM Reveals The Hummer EV, Its Answer To Tesla's Cybertruck, Dow Jones Rises As Trump Seeks Stimulus Deal; Tesla Stock Revs Up For Earnings, Dow Jones Sheds Early Gains; PayPal Breaks Out, Tesla Awaits Earnings, Snap Soars, Dow Jones Erases 142 Point Gain Amid Coronavirus Stimulus Talks; Tesla Earnings Due, As Snap Soars 36% On Earnings, Stock Market Today: Track Market Trends And The Best Stocks To Watch. China is the world’s biggest EV market and sales are recovering after taking a hit due to the coronavirus pandemic. A Tesla offensive to make cars locally has heaped more pressure on local players. The company, registered as Wanbang Digital Energy Co., aims to list on a mainland bourse and has hired Guotai Junan Securities Co. to assist, according to a statement dated Oct. 9 on its website. Have a confidential tip for our reporters? Nio led the charge after receiving roughly $1 billion in funding from state-owned firms. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. © 2020 CNBC LLC. ', Nikola surges 13% after GM president reiterates confidence in partnership plans », Unprecedented new video shows NASA's Osiris-Rex spacecraft landing on an asteroid and sucking up dust », Tesla is a chain of startups, Elon Musk explains, Tesla delivers its fifth straight quarterly profit, Tesla (TSLA) Tops Q3 Earnings and Revenue Estimates, Tesla (TSLA) Posts 5th Straight Quarter of Profit; Plus CMG, CSX, WHR Beat, Tesla shrugs off pandemic as sales hit new record, NewsWatch: Tesla stock jumps after company’s Q3 profit, sales beat expectations. Chinese automakers have enjoyed a second wind after posting weak sales in 2019. It targets the mid- to high-end China electric car market, as do Chinese rivals Li Auto and Nio. BREAKING: Futures Rise Modestly; Tesla, Align Among Key Earnings Movers. Authors may own the stocks they discuss. Chinese electric-car startup Xpeng Motors has filed for a U.S. initial public offering, right behind rival Li Auto Inc. which raised $1.1 billion last month. While Tesla Soars, Electric Cars Face A Huge Test, Automotive Industry News, Self-Driving Cars And Stocks To Watch, Stocks To Watch: Top-Rated IPOs, Big Caps And Growth Stocks, Find The Latest Stocks Hitting Buy Zones With MarketSmith, Join IBD Live And Learn Top Chart-Reading And Trading Techniques From The Pros, Hot Market Rally Flashes More Warning Signs. It was the first electric car company to be founded by Danish American car designer Henrik Fisker. StarCharge has been profitable for three consecutive years, the company’s chairwoman Shao Danwei, is quoted as saying on the group’s website. Futures: As the market rally awaits a stimulus deal, Tesla rose on results, one of several leaders near buy points... 11:55 AM ET All Rights Reserved. Chinese electric-car startup Xpeng Motors has filed for a U.S. initial public offering, right behind rival Li Auto Inc. which raised $1.1 billion last month. Get instant access to exclusive stock lists, expert market analysis and powerful tools with 5 weeks of IBD Digital for only $5! EV makers and related companies have captured investors’ attention this year as consumer demand for more environmentally friendly and high-tech cars increases. The level is higher than its previous range of $11 to $13 per share because of strong demand for the offering.

Charlie Rose 2020, Barry J Felstead, What Causes Self-doubt, Dennis Mortimer Wife, Renault Concept Car 2020, History Of Egbaland, Mazda Furai Engine,