KEY POINTS
  • Chinese electric car start-up Xpeng Motors has filed for an initial public offering (IPO) on the New York Stock Exchange.
  • The listing filing comes after CNBC reported that it raised a further $400 million from Alibaba, one of its biggest shareholders, the Qatar Investment Authority (QIA) and Abu Dhabi sovereign wealth fund Mubadala.
  • Xpeng currently has two cars on the market — the G3 SUV and the P7 sedan. The latter competes with Tesla's Model 3. 
Xpeng Motors latest electric car is called the P7.

Chinese electric car start-up Xpeng Motors has filed for an initial public offering (IPO) on the New York Stock Exchange, according to an official filing. 

While the company did not disclose how many Class A ordinary shares it would sell, Xpeng Motors said it would sell 429,846,136 class B ordinary shares, according to the Securities and Exchange Commission (SEC) filing published Friday. It also said it plans to raise a placeholder amount of $100 million, a figure that will likely change.