暗网吃瓜

, an electric vehicle maker based in China, said Monday it secured a Series C+ round of financing of approximately $500 million.

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The group of investors participating in the new cash infusion included , , and , the company said in a .

The investment comes seven months after receiving a of financing. In total, Xiaopeng Motors, known as Xpeng, has , according to 暗网吃瓜 data, which does not include yuan raised.

backed Xpeng in a + round in 2018.

Xpeng, founded in 2014, said in a statement that the new funding 鈥渄emonstrates investors鈥� confidence in the company鈥檚 strategy, market positioning and its long-term vision as a leading Smart EV player in China.鈥�

So far this year, the company has launched its second model–the P7 sports sedan–and secured the production license for its self-built fully owned factory in Zhaoqing, Guangdong Province.

Although Xpeng did not disclose its current valuation, Taipei wealth management company reported Monday that it at 25 billion yuan ($3.6 billion) since 2018. The company also said Xpeng had been eyeing an initial public offering, but was holding off.

China鈥檚 electric vehicle market, which includes more than 400 automobile makers, grew rapidly as a result of government investment and consumer discounts, but is now shrinking amid concern of growing too quickly, according to comments by , head of wealth management at Oak Stone, in a written statement.

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