Sign up to receive 5 free days of our daily summary for tech news.

Announcing The Information Courses: Sign up for our Micromobility 101 course, a 15-day guided primer on dockless e-scooters, bikes, and more.

Read this article for free.

Already a subscriber? Log in here

Autonomous Vehicles Asia Startups

China’s Hot Electric Car Market Gets Jolt of Alibaba Money

While Tesla struggles to meet investors’ expectations, its young Chinese counterparts are raising money at soaring valuations on hopes that China’s electric vehicle market will zoom ahead in the coming years.

Xiaopeng Motors, backed by e-commerce giant Alibaba, is in talks to raise $600 million to $700 million from Alibaba and other investors at a valuation close to $4 billion, people familiar with the discussions said. The previously unreported fundraising will be a combination of U.S. dollars and Chinese yuan. It comes months after the four-year-old startup, which uses Xpeng as its brand name, raised about $350 million in January in a round led by Alibaba and Foxconn, the world’s largest electronics contract manufacturer. Xpeng’s spokeswoman declined to comment on fundraising plans.

What Is The Information?

Notes bb3aa5069205d702dda37fc71dc6f1c59df2310c4379304e9f1199f052af4884

Exclusive Articles

We broke it first. Receive original reporting you won't read anywhere else from the largest newsroom in tech.

Notebook b5103017ee163370a1667c9ce59ab0ef023875a17888105d26c185cadf31bb69

Daily news analysis

Every weeknight, we'll send you our reporters’ views on the day’s top tech news—distilled into one email.

Conference calls c9e664e8b96ee347d3e92b8309938f268422b9db98cfabca5c826fbb75054b23

Conference calls

Get access to our reporters and other top executives with monthly deep-dive calls into topics like startups and autonomous vehicles.

Events 499acedd16cffc41445edd76bfd302b2836c2a27419890f17130a6b10e2aa3df

Special Events

For no extra fee, get access to more than a dozen events yearly, from intimate dinners to larger gatherings with marquee speakers.

Access the best reporting on the tech industry read by tens of thousands of global executives.

Become a contributor

Share your views and find other subscribers by completing your profile. You’ll be listed in our contributor directory.

Org Charts

Access the only collection of tech company org charts. Our expanding database includes companies like Amazon, Snap, and Uber.

Slack community

Discuss topics and current events with our subscriber-only Slack group and share news about your company with other subscribers.

Share with your team

Subscribers can unlock any article and share it with friends and co-workers through a special share link.

Stay up to date on Silicon Valley

Sign up for Jessica Lessin’s (The Information’s CEO & Founder) free Saturday newsletter and also receive a complimentary week of our daily afternoon tech commentary email.

Already a subscriber? Log in here

Recent Articles

Asia Startups E-commerce

Go-Jek to Buy Stake in JD.com’s Indonesian E-Commerce Business

By Juro Osawa

Asia E-commerce

Online Shopping Offers a Bright Spot as China’s Economy Slows

By Wayne Ma

Enterprise Cloud Policy

Microsoft’s Nadella Talks Tech Backlash, Competitors

By Nick Wingfield

Asia Venture Capital

The Incredible Rise and Fall of China’s Bike Firm Ofo

By Juro Osawa and Yunan Zhang