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Earlier, the president of Xiaopeng, a Chinese electric car start-up, said in an interview with foreign media that the company hoped to complete a new round of financing this year, which could be about $600 million.

Gu Hongdi, president of Xiaopeng, said he was seeking about $600 million in financing. He said he would not make a commitment, "but he is very confident in this goal."

Subsequently, Xiaopeng responded: "We are conducting a new round of financing, and the scale of this round of financing is similar to that of the previous round (B+ round). It is not convenient for us to disclose the completion time of the new round of financing."

At the Shanghai auto show in April, Xiaopeng unveiled its second electric car model, the P7, and said it would start production at its own factory in Zhaoqing, which has a capacity of 100000 vehicles and an estimated investment of 10 billion yuan.

Xiaopeng also defines this year as a "quality year, delivery year and operating year", including as many as 100 new delivery centers, 34 service centers and 200 supercharging stations-all of which mean a lot of money.

In order to successfully complete the plan in 2019, Xiaopeng Motor said it would complete a total financing of 30 billion yuan by the end of 2019 at Xiaopeng Automobile Brand Day in August last year.

According to public information, Xiaopeng Motor was founded in early 2015 and has received at least seven rounds of financing since its inception, with a cumulative amount of not less than 10 billion yuan.

Since 2018, Xiaopeng has completed two rounds of financing in round B and round B +, as well as two rounds of strategic investment. In January 2018, the company received 2.2 billion yuan in round B financing led by Ali, Foxconn and IDG, while in August, Xiaopeng announced the completion of 4 billion yuan in B + round financing jointly led by Chunhua Capital, Morningside Capital and he Xiaopeng.

According to statistics, Xiaopeng Motor has received 14 billion yuan in financing since April 2015.

In fact, even with the financing of US $600m, Xiaopeng is still 12 billion yuan short of its "financing desire of 30 billion".

Xiaopeng has been facing financial pressure, but even if this financing is true, US $600 million is small money for car building, which may not necessarily make up for Xiaopeng's huge capital needs.

An auto analyst said that Tesla completed the construction of the Shanghai super factory in less than a year and started production soon, which is "tantamount to closing the window ahead of time" for the new car-building forces. It is also believed that the financing time window of the new forces of car building will not exceed one year. "A large number of enterprises will be eliminated, and 90% of the investors will suffer heavy losses."

In the face of window pressure, Xiaopeng Motor is still speeding up "looking for money." when the Brand Day event announced that it would raise 30 billion yuan last August, he Xiaopeng said: "personally, I don't think the first half of 2019 is a good year, and we have to prepare a lot of money for the winter."

Listed electric car companies are not doing very well this year. Tesla's shares have fallen more than 37 per cent so far this year, while Xilai's shares have fallen nearly 60 per cent.

In the first quarter, NIO's total revenue was 1.631 billion yuan, down 52.5% from the fourth quarter of 2018, with a net loss of 2.624 billion yuan. Tesla's total revenue in the first quarter was $4.551 billion and a net loss of $702 million.

Gu Hongdi also said, "I think that in the overall macro environment, including trade and the general situation of the electric vehicle industry, the trading performance of listed companies is not excellent. I think this has a certain restraining effect on investor sentiment."

At present, the financing environment of new energy vehicles is getting tighter and tighter, and it is almost impossible for Xiaopeng to get another ten billion yuan of financing in the second half of the year.

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