Chinese language Tesla rival Xpeng seems to be for contemporary funding and should attempt a US IPO
Though the subsequent spherical of funding is prone to come from the personal markets, He mentioned an preliminary public providing (IPO) is probably not far off.
“Sure, we do have IPO plans. We’re open to a list both abroad or at residence in China. We need to focus constructing our enterprise first earlier than contemplating the IPO,” He advised CNBC.
“The auto trade is capital intensive, and on the similar time, has strict requirement for operation and effectivity. We need to give attention to getting extra orders and delivering the automobiles this yr and subsequent, earlier than we start thinking about going public.”
He added that whereas a closing location for the general public itemizing has not been determined, and a U.S itemizing will doubtless occur earlier than one on the mainland.
“We’re on the fence for the U.S. and tech board itemizing. For Xpeng, we hope to do each. Tech board is an effective possibility. We are going to preserve monitoring it. It’s doable that our U.S. itemizing will occur sooner,” Xiaopeng mentioned.
“Tech board” refers to a Nasdaq-style itemizing location in Shanghai that’s geared toward attracting high-tech firms.
If Xpeng Motors lists within the U.S., it will be following within the footsteps of rival electrical car maker NIO, which went public on the New York Inventory Change final yr.