In automotive circles, China has become synonymous with two things in particular: electric vehicles (EVs) and start-ups.
One of the contenders vying for a position in this heavily congested market is Xiaopeng Motors, a Guangzhou-based company that touts investors such as Alibaba and Xiaomi, a leading Chinese electronics company and one of the country’s largest smartphone manufacturers. In November, it closed a US$400m investment round and garnered an estimated valuation of around US$4bn. It will compete directly with other start-ups such as Aiways, CHJ Automotive, Nio and WM Motor.
