China's Latest Tesla Challenger, XPeng Motors, Is Preparing an IPO
Check your rear-view mirrors, Tesla (NASDAQ: TSLA) and NIO (NYSE: NIO) investors: There's another electric vehicle manufacturer getting ready to join the public markets. Last week, XPeng Motors filed paperwork with the SEC in preparation for an IPO on the New York Stock Exchange, where it will trade under the symbol "XPEV."
The company has stated that its goal is to "target the mid- to high-end segment in China's passenger vehicle market," making it a direct competitor to Tesla and NIO. News XPeng Motors' IPO plan comes just weeks after it announced that it had raised $500 million during a Series C+ financing round.
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Source Fool.com
