WorldTesla's Chinese rival is expected to raise $1.8 billion when it goes...

Tesla’s Chinese rival is expected to raise $1.8 billion when it goes public in Hong Kong


Electric car maker Xpeng will sell its 5% stake. Xpeng also reserves the right to sell more shares if demand is high enough. On June 29, Xpeng’s US-traded shares fell nearly 1%. The company’s stock has doubled since its launch in August 2020, but is down from its peak in November 2020. A dual listing in Hong Kong will make it easier for Chinese investors to pour money into the company.

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