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Xpeng Makes 10,000th Car Amid Plans for New Fundraising Round

By Bloomberg / Jun 19, 2019 03:11 AM / Business & Tech

Photo: Bloomberg

Photo: Bloomberg

Xpeng Motors, the Chinese electric carmaker planning another fundraising round, said it has produced 10,000 sport utility vehicles.

The company, which is backed by e-commerce giant Alibaba Group Holding Ltd., said in a statement it built its 10,000th G3 SUV in the city of Zhengzhou.

Among the hundreds of EV startups in China, only a few including NIO Inc. and WM Motor Technology Co. have also hit that production mark.

Total vehicle sales in the first five months of the year stood at 7,359, Xpeng said.

Related: China Moves to Head Off Dot-Com Style Crash in $18 Billion Electric-Car Industry

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