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Xiaopeng Motor, a new car-building force that was just established five years ago, announced that it had raised $400 million in the latest round of financing, which brought in a new investor, Xiaomi Group, while existing shareholders, including he Xiaopeng, were blessed. With the latest financing, Xiaopeng is valued at nearly 25 billion yuan.

Xiaopeng also said that in addition to US $400 million in equity financing, it has also received billions of yuan in unsecured credit loans from a number of Chinese and foreign banks, such as China Merchants Bank, Citic and HSBC.

For this financing, Xiaomi Group CEO Lei Jun said: Xiaomi Group and Xiaopeng Motor have carried out in-depth cooperation in the interoperability of smartphones and smart cars.

Xiaopeng is currently in production of only one pure electric model-the Xiaopeng G3 G3, the 2020 G3, went on sale in July this year, with a subsidized price of 143800 yuan to 196800 yuan. The second model, Xiaopeng P7, will be delivered in the first half of next year.

The Xiaopeng G3 delivered 1487 vehicles in September, with cumulative sales of 12829 vehicles from January to September.

In July this year, Xiaopeng Motor was collectively complained by users about the return of the car due to the upgrading of vehicle service life, which is also the largest user rights incident since Xiaopeng Motor was founded. Since then, many users have posted rights protection slogans at the rear of the vehicle, "Xiaopeng car, fraudulent car owners, serious power outage, a lot of problems", and some users responded that the brakes did not work well.

He Xiaopeng commented in "Li Bin, the worst person in 2019,"if you go on firmly, you will see the dawn." It is expected that everyone will give the explorer more room in the process, and do not conclude because of the gains and losses of a certain node. Over time, we will all be stronger in the global competition. "

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