Xpeng Secures Undisclosed Funding From Guangdong Government Investment Fund

Deal Summary

Chinese EV maker Xpeng announced it has received backing from a new Guangdong provincial government investment fund, becoming one of the first companies to sign on. The fund, with a planned size of about $14 billion, did not disclose the amount invested in Xpeng. The capital supports Xpeng’s shift toward robotaxis, humanoid robots, and flying cars.