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Primavera Capital, Morningside Venture Capital Lead XPENG Motors Series B

Primavera Capital Group, Morningside Venture Capital, as well as He Xiaopeng, Chairman and CEO of XPENG Motors, have led a Series B+ round of RMB 4 billion in the autonomous car manufacturer. After the completion of this Series B+ round, XPENG Motors will have raised RMB 6.2 billion in total for the entire Series B round, with total financing to date exceeding RMB 10 billion. At present, the valuation of XPENG Motors is close to RMB 25 billion. Fred Hu, Chairman of Primavera Capital Group said: "XPENG Motors is an important investment for Primavera Capital Group in the new energy vehicle sector. The technological innovation of the Internet and AI is reshaping the ecology of the automobile industry...