Chinese electric car startup Xiaopeng is now valued at $580 million
The latest example is Xiaopeng Motors, an Alibaba-backed EV startup that completed a four billion yuan ($580 million) funding round last week.
The latest investment has given the 4-year-old EV carmaker a market valuation of more than 25 billion yuan ($3.6 billion).
But the company hasn’t yet delivered a single vehicle to its customers, who have pre-ordered more than 6,000 of its G3 electric sports utility vehicle since pre-sales began earlier this year.
Quartz
https://qz.com/1348985/chinese-electric-car-startup-xiaopeng-is-now-valued-at-3-6-billion/