Xpeng secures backing from Guangdong government fund
Xpeng secured investment from a 100 billion yuan Guangdong government fund. The EV maker did not disclose the sum but noted the value of long term patient capital.
XPENG INC - ADR announced on May 27 that it was selected among the first batch to sign on to a local government investment fund in China. The Guangzhou-based electric vehicle maker did not disclose the specific investment amount received from the Guangdong provincial fund, which has a total planned size of 100 billion yuan ($15 billion). Access to state-backed "patient capital" supports Xpeng's expansion into capital-intensive robotaxis, humanoid robots, and flying cars.
This vehicle operates with a perpetual structure designed to support strategic emerging industries through long-term economic cycles.
